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auction |
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auction A sales technique in which real or personal property is offered for sale and bidders make oral offers in varying amounts until one is accepted. Frequently used for involuntary transfers of real estate, such as foreclosures and tax sales. In some states, foreclosure auctioneers must be licensed.Where property is offered by the owner voluntarily for auction sale,the fine print in the auction terms usually contains a provision for a buyer's premium. The amount of the winning bid is automatically increased by the stated amount, and that percentage is used to pay the auctioneer's fees. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The forest decked out in grand style included about 100 artificial trees ready to be auctioned off Saturday night, some 9 feet tall, others tabletop-friendly. The 80-foot mural, painted on several removable panels and appraised by Christie's auction house al seven figures, will be auctioned off to fund the cost of relocating the center. The properties to be auctioned during the next month include two joined eight-unit apartment buildings in the Bronx ; a 19,650 s/f commercial building with office space in Queens; Three vacant properties in Brooklyn for auction; a nine-unit apartment building in Staten Island and; three investment properties in Camden, N. |
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