When does the castor sell? I see nothing on my lotting as to the selling taking place.

We usually see something about 7-10 days after the auction finishes. The castor may have been sold long before the auction as they have their regular buyers and private treaty the stuff.

Thanks Peeler.

How do they come up with an amount? Do they actually have buyers bidding? Or is it a closed bid process? Just curious on how they come up with a number.

I don't believe there is active bidding. I know nothing for sure, but have been under the impression that FHA has their fingers on the pulse of the market and puts a value on the castor and then PT's it. They say they have regular buyers.