Non-distressed auction for house and land??

This is from an ad for a property near me, which is a nice piece of property in a desirable area with a house and some acreage.   Wondering why they would auction it instead of a traditional sale.  Anybody here had experience purchasing a property this way?  

Why is the property being sold at auction?
An auction is a streamlined, time-defined way to buy real estate that’s open, fair, and
exciting. It puts all qualified buyers on equal footing, with transparent bidding and a clear
closing date. This is not a distressed sale—just a competitive and efficient way for the
seller to find the market’s best offer. Buyers can set their own price, bid with confidence,
and know the process is fast and straightforward.
Is there a reserve?
Yes. The auction has an undisclosed reserve—the seller has a minimum price in mind, and
the winning bid must meet or exceed it for the sale to proceed.
Can I get financing?
Yes, but the sale is not contingent upon financing. Buyers should arrange any necessary
financing in advance, as the property is sold as-is, where-is, with no contingencies for
financing, appraisals, inspections, or surveys.
What’s a Buyer’s Premium?
A 10% Buyer’s Premium is added to the high bid to determine the total contract price.
Example: $1,000,000 high bid + 10% BP = $1,100,000 contract price.
How much is the deposit?
A 10% deposit of the total contract price is due within 48 hours of the auction close. This is
non-refundable and applied toward the purchase price.
Who pays closing costs?
The buyer is responsible for all standard closing costs, including title search, deed
preparation, recording fees, and attorney’s fees. Closing will take place within 45 days of
contract execution.
What inspections can I do?
Inspections are welcome! All inspections and due diligence must be completed before
bidding. The property is sold as-is, where-is.
Can my agent get paid?
Yes. Broker participation is encouraged.