Well, presumably because you could buy it at a price that made the investment feasible. That price could be $1. Maybe the land truly is worthless. In which c

Well, presumably because you could buy it at a price that made the investment feasible. That price could be $1. Maybe the land truly is worthless. In which case the auction is for nought. Then the community might decide to form a small playground for the plot of land or a community garden. Maybe the land could be used for housing instead of for commercial purposes.