This means that the price bid for the contract will (if the winning bid) be the actual price paid by the buyer and cannot change (even if it results in a loss to the seller).

ticket

lick it

sick with

fixed

hit it

wicked

admit it

In an absolute auction, the highest bid wins the item or real estate, there is no minimum bid requirement. In a confirmation auction the highest bid has to be confirmed/approved by the owner or bank, sometimes also referred to as a reserve price.

you bid