Arapahoe County limited attendance at its tax auction Wednesday to 250, with 50 more people waiting to grab empty seats as people left, said Jan Neilson, deputy treasurer.

At live auctions, investors can accept or reject smaller liens, a method that allows hundreds of liens to be sold in a matter of hours. That means higher premiums for counties, and premiums are pure gravy. For larger liens, investors bid in a traditional auction format, based on the premium they are willing to pay. Fee for administering an oath with certificate and seal, no charge.