The property shall not be sold if the price bid by the last and highest bidder is less than two-thirds of the appraised value in the inventory. In that event, on the petition of the succession representative, the court shall order a readvertisement in the same manner as for an original sale, and the same delay must elapse. At the second offering the property shall be sold to the last and highest bidder regardless of the price.
Art. 3273.Minimum Price; Second Offering
Book VI. Probate Procedure · Title III. Administration of Successions · Chapter 6. Alienation of Succession Property · Amendment history unavailable · Last verified July 30, 2026
In one sentenceArticle 3273 blocks a public sale of succession property if the highest bid is less than two-thirds of the appraised inventory value, requiring readvertisement under the original sale's rules, and provides that at the second offering the property sells to the highest bidder regardless of price.
Full Text of Art. 3273
Plain-English Summary
A public auction carries a real risk: on a given day, with whoever happens to show up, the highest bid might come in far below what the property is worth. Article 3273 guards against that outcome with a price floor tied to the appraised value recorded in the succession's inventory, the formal valuation process described elsewhere in this Title.
If the last and highest bid falls below two-thirds of that appraised value, the sale does not go through. Instead, on the succession representative's petition, the court orders the property readvertised in the same manner as the original sale, with the same delay required before the new auction as applied to the first one. The safeguard gives the succession one real chance to avoid an inadequate price rather than letting a single weak turnout at auction lock in a loss for the estate.
That protection has a limit, though, so the process does not repeat indefinitely. At the second offering, Article 3273 requires the property to be sold to the last and highest bidder regardless of the price bid. The two-thirds floor applies only once; whatever the market produces at the second auction is final.
Frequently Asked Questions
What happens if the top bid at a Louisiana succession's public sale is too low?
If the highest bid is less than two-thirds of the appraised value in the inventory, Article 3273 blocks the sale and requires the representative to petition for readvertisement under the same rules as the original sale.
How is the appraised value used for the two-thirds threshold determined?
It comes from the succession's inventory, the formal valuation of estate property taken during administration.
Is there a minimum price at the second public sale?
No. Article 3273 provides that at the second offering, the property sells to the highest bidder regardless of the price bid.
Why does Louisiana let the second sale go through at any price?
To keep the process from repeating indefinitely. The two-thirds floor gives the estate one protected opportunity against an inadequate price, but the second auction is designed to be final.
Source & verification. Article text is reproduced verbatim from
the Louisiana Code of Civil Procedure (legis.la.gov). Enacted by the Louisiana Legislature.
Last verified July 30, 2026.
· Official source
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