absolute auction
(redirected from Absolute Auctions)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.
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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.The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.