absolute auction

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Absolute Auction

An auction in which the highest bidder receives the item for sale. That is, an absolute auction does not have a specified price below which the current owner will refuse to sell. See also: Reserve price.

absolute auction

A sale will be to the highest bidder, regardless of the amount bid. Common wisdom among auctioneers is that a property advertised as being sold at absolute auction will attract more bidders and higher bidding prices than one advertised with even a low minimum acceptable bid,or reserve price.
References in periodicals archive ?
Alliance found that absolute auctions brought out the most enthusiastic and unreserved bidders, producing the best overall dollar results, as properties were sold with no further negotiations to the highest bidder.
But as a practical matter, I can't hold onto it forever," said Doyle, president of Absolute Auctions & Realty.
Farms are being subdivided into tracts on a large scale in Tennessee, and the majority of this land is sold at absolute auctions.
7 million worth of premier properties sold during five absolute auctions in June.
Among the auctions selling this month, absolute auctions on AuctionTime.
We are excited to present the second in our series of live, televised absolute auctions on the heels of our first successful event on June 20th," said Auction Network General Manager Fontana Fitzwilson.
Absolute auctions usually generate the most interest and are very exciting, especially in a seller's market.
Absolute auctions differ greatly from online auctions that incorporate reserves and starting bids.
There are 160 absolute auctions with opening bids at $100-$1000.
com has more than 100 absolute auctions ending December 1st, 2010.
com has 53 absolute auctions ending November 10th, 2010.