An Auction in which the property is sold to the highest bidder regardless of the amount of the winning bid.
| Business Dictionary: Absolute Auction |
An Auction in which the property is sold to the highest bidder regardless of the amount of the winning bid.
| 5min Related Video: Absolute Auction |
| Real Estate Dictionary: Absolute Auction |
An auction in which the subject property is sold to the highest bidder regardless of the amount of the winning bid. There is no Reserve Price.
Example: Although Amos was disappointed by the amount bid for his house, he had no choice but to sell since the property was sold in an absolute auction.
| Auction |
| What is a slave auction? Read answer... | |
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| Is there a starting bid at an absolute auction? | |
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| What are the advantages to the seller in an absolute auction? |
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