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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.Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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