Real estate auctions are a common way to sell unique properties in other parts of the country or the world. But if two recent auctions are any indication, it's still a hit-or-miss proposition in Western Pennsylvania.

A nearly 4,000-square-foot apartment on the 20th floor of Gateway Towers is back on the market, priced at $795,000. An auction held Sept. 29 at the Downtown building drew only two qualified bidders, according to owner Larry Farley. The highest bid was $400,000, he said. The auction ended without a sale because the bids did not reach Mr. Farley's reserve price.

"The bids weren't even in the ballpark," he said in a phone interview from his new home in Virginia. "I put $1.1 million into it. But it's a lousy market right now. What are you gonna do? That's what happens at auctions sometimes."

Howard Hanna Real Estate Services handled the Gateway Towers auction and another one that had been scheduled for Sept. 15. That 7-acre property and 12,000-square-foot house filled with architectural antiques in Washington County sold before the auction, so it was canceled. The house, which had been priced at $4.65 million, sold for $3 million, Hanna reported.

In 2005, Howard Hanna also handled the auction of lumber baron Joe Hardy's 10-acre estate in Rostraver. The 18,000-square-foot mansion had been priced at $7 million but sold at auction for $3.5 million.

Mr. Farley, the former owner of Dargate Auction Galleries, suggested an auction after his Gateway Towers apartment was on the market for four months at $995,000.

In March 2003, Mr. Farley and his late wife, Carol, bought and combined three units on the 20th floor of this 27-floor 1960s apartment building-turned-condominiums. They began a six-month major renovation with general contractor J. Francis Co. of the North Side, who removed walls and created a series of open, contemporary spaces that showcased the couple's impressive collection of antiques, artwork and Oriental rugs.

The apartment now has four bedrooms, three full baths and two half baths. But its biggest selling points are its easy access to the Cultural District and Downtown and views of the Allegheny River, North Side and Golden Triangle.

It has a $190 monthly parking fee and a $1,900 monthly condo fee, which helps pay for amenities such as 24-hour security and manager, wireless Internet and a fitness center.

Hanna CEO Howard "Hoddy" Hanna believes that absolute auctions -- without a reserve price -- generate more bidders, greater interest and higher prices.

"But most sellers don't have the confidence to roll the dice," he said.

For more information or a tour of unit 20-K-L-M in Gateway Towers, 320 Fort Duquesne Blvd., Downtown, call Lisa Solomon of Howard Hanna at 412-361-4000, ext. 212, or go to www.howardhanna.com, MLS No. 671264.