“I sold my sea-view apartment for €60,000 more than the agency’s estimate thanks to this method — here it is.”

On paper, it was a plan that was supposed to go off without a hitch. Maître Anne-Sophie Arnal, a notary based in Paris, recalls this story as one of the most memorable of her career. In 2021, her 70-year-old client and her 90-year-old mother decided to sell their apartment in Cannes, where they used to spend weekends. They were already living in Paris and felt it was time to part with the 50-square-meter property, located right by the sea.

Upon hearing of their intent to sell, the building’s concierge in Cannes took matters into her own hands: without informing the owners, she used her duplicate key and invited a real estate agent to visit. Soon after, she informed the two women that the agency had already found a buyer at a price of €220,000.

“My client called me to get my opinion,” recalls Maître Arnal. “So I decided to call my colleague on site.” He reassured the sellers that the offered price was below market value and estimated the apartment himself at €270,000.

“At that point, I suggested my clients use an interactive sale through a bidding process, to let the market determine the real price,” Maître Arnal explains.

The principle is simple: a listing is published with an attractive starting price. After viewing the property, interested buyers register to participate in the online sale, which takes place over 24 hours on a designated day. On the day of the sale, participants gradually increase their bids until they reach their maximum. The seller sets a “reserve price” in advance — the minimum amount below which they are not obliged to sell.

“Unlike a traditional auction, the seller is not obligated to sell to the highest bidder,” the notary clarifies. The seller may refuse the top offer in favor of a buyer with a more solid financial background.

It’s a method that “lets the market speak for itself,” emphasizes the notary. According to her, it’s especially effective in divorce cases, where former spouses cannot agree on a sale price, or to bring a “greedy seller” back to reality by confronting them with actual market demand. However, Anne-Sophie Arnal warns: “Those 24 hours can be very intense. This method is not suitable for all sellers.”

Not every property is suited to this kind of sale either. “The property needs to be easy to sell, with a lot of interested parties to create a sense of competition,” which excludes niche properties or those located in low-demand areas. “In Paris, for example, this format works particularly well for studios and one-bedroom apartments.”

In the case of the elderly woman and her mother, the sea view made the apartment especially appealing. They set their reserve price at €220,000 — “hoping that in the worst case, they would sell at the agency’s offer.” In the end, starting at €180,000, the bids climbed to €280,000.

Thus, the interactive bidding process allowed the women to sell their apartment for €60,000 more than the price initially offered by the agency.

If you wish to sell your property using the same approach, please don’t hesitate to contact us — we’ll be happy to assist you.