The Commissioners of the Land Office holds both real estate and mineral auctions throughout the year.
The Real Estate Division conducts live auctions annually for the purpose of leasing agricultural lands managed by the CLO. The appraised rent is the minimum accepted bid for these parcels.
The Commercial Real Estate Division conducts periodic auctions of leases for commercial purposes such as residential, industrial, or retail development. In addition to commercial leases, land sale auctions are occasionally held at the discretion of the Commissioners of the Land Office. Land sale auctions will be advertised in a brochure that is available in electronic format and by direct mail. Title 64 of Oklahoma State Statutes requires that the CLO advertise auctions in a newspaper with county wide circulation in the county where the land is located. All land sales are auctioned at public bid.
Mineral auctions are held quarterly through an online platform. Mineral leases have a three-year lease term. If production is achieved, the term of the lease is extended as long as there is production in paying quantities.