CoStar Group names Steve Price as president of Ten-X

CoStar Group (NASDAQ: CSGP) has appointed Steve Price as president of Ten-X, its digital commercial real estate auction platform, according to a company statement.

Price joins CoStar Group after 12 years in senior leadership roles at Auction.com, where he most recently served as executive vice president of Foreclosure Auction Services. Before Auction.com, he spent a decade at Bank of America, most recently as SVP of Loss Mitigation.

During his tenure at Auction.com, Price developed a remote bidding capability that has facilitated more than $2.2 billion in total fundings since its launch and led a restructuring of the foreclosure division that reduced operating costs by more than 40%.

Ten-X, which Auction.com operated prior to CoStar Group's acquisition of the platform in 2020, will function as a standalone brand with its own dedicated leadership team. Auctions will remain available on both CoStar and LoopNet, and CoStar Group plans to relaunch the Ten-X website with bidding functionality available directly on the site.

"Steve has spent his career building and scaling disposition and auction businesses, and he knows this space as well as anyone in the industry," said Andy Florance, founder and chief executive officer of CoStar Group.

"Ten-X already has the ingredients of a great marketplace — rigorous underwriting, a broad and engaged buyer audience, and a proven digital auction process," Price said.

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