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The minimum amount for which a seller will entertain bids in an auction?
Wiki User
∙ 14y ago
Upset Price
In the UK it is called a reserve.
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∙ 14y ago
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What is a static auction?
A static auction is run online. The seller sets the reserve price and this allows the bidders to place bids around the clock, if desired. Ebay is one example of a static auction.
What is the difference between a reverse auction and a forward auction?
A forward auction is the "ordinary auction" we are all used to today. In a forward auction, the buyer bids on the sellers item, and the prices of the item increases during the auction. On the other hand, a reverse auction switches the roles of the buyer and the seller. In a reverse auction, the sellers are competing for the buyers business, and the prices of the items the sellers are selling decrease during the auction.
What is the definition of a seller's concession?
Seller's Concessions or seller contributions are the amount or percentage of closing costs that the seller agrees to pay from his or her proceeds. This amount should already be included in the contract. If you need any further help with this feel free to call my office (214)607-1445.
How are the prices determined on eBay?
Prices are set by the seller and then are open to auction, with users setting bids for how much they are willing to spend.
What happens when the price of building materials suddenly increased by a large amount?
Shift to a seller's market.
What does no reserve auction mean on jewelry?
If an item has a reserve price at an auction it means no matter the amount bid it will not sell unless it reaches the reserve price set by the seller. This price is not known by the bidder. In a no reserve auction the item will sell by the highest amount bid on the item this is known as a true auction.
Benefit of forward auction to seller?
increases selling
What does it mean in a car auction reserve off?
No reserve means the seller will accept what ever the highest bid is. If an owner started the bidding with a reserve price (meaning minimum amount to sell at auction) and the owner, at some point during the bidding, asks to have the reserve removed (will then take highest bid) the term Reserve Off is used to say that now the car will go to the highest bidder.
Can you purchase a home scheduled for auction before the auction?
You are not able to purchase a home prior to auction unless the auctioneer and/or auction company has provisions with the seller to permit such a sale.
Can a seller back out of an absolute auction?
No its a crime for which you can go to jail.
What does NO RESERVE mean on the eBay auction listings?
Normally a seller will know roughly what their item will sell for, or will at least know the minimum amount that they are willing to let it sell at, and they will set a reserve price near that particular amount for their item especially if it is a valuable piece. When you see "no reserve" it means that the seller has not set a miniumum amount that they will sell the item for and so if the final bid is 0.99 then the item will sell for 0.99, regardless of what it might actually be worth. Sellers sometimes use the words "no reserve" to encourage bidding but when the item sells for less than they wanted they refuse to sell it to the winning bidder. In this case the seller should be reported to eBay for seller non-performance.
Can you offer a lower price in Ebay?
You can place a bid for a lower price, but it will not be accepted. There is a minimum price set by the seller, and a reserve price sometimes set. If you bid below the minimum, it is not allowed. If you win an auction below the reserve price, the seller can refuse it. If you underbid the current high bid, it will be rejected. Rarely, the reserve price is below the opening sale price, so try it and see what happens.
Is a reverse auction different from a regular auction?
In reserve auction, there is a maximum price for the particular auctioned item, and the bid reaches here, then the seller can not increase but lower the reserve price. In a regular auction, the Reserve price is the maximum price for the auctioned item that the seller willing to accept. You can go and check out for live auctions that are running on banknilami website. You can participate there.
Private party seller with borrower not the holder of the title and driving the vehicle Can the vehicle be repossessed by the seller if 5 out of seven payments were late or short and the last not paid.?
Almost certainly the answer is yes. You'd need to check the law in your area, but you've pretty clearly defaulted on the terms of the loan and generally the lienholder doesn't have to be as nice about it as this seller has already been. Not only that, but the seller has every right to charge you the difference between the amount remaining on your loan and the fair market value for the vehicle (if they sell it at a used car auction, the FMV will normally be whatever they get for it at the auction).
What is a static auction?
A static auction is run online. The seller sets the reserve price and this allows the bidders to place bids around the clock, if desired. Ebay is one example of a static auction.
How can you get a copy of a bill of sale at a car auction?
You can get a copy of the purchase receipt from the auction if you are the buyer however car auctions don't work on a bill of sale. They have the title follow the car from seller to buyer. If the seller fails to provide the title prior to the start of the auction they are charged a fee which is typically around $50. They have 30 days to produce the title to the auction. If they fail to do so the buyer can return the car to the auction and get a full refund of purchase price.
Is Ebay a reliable car auction site?
Yes I find ebay a reliable car auction site however as a seller watch out for bad feedback bidders.
