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The property or item is almost guaranteed to sell, thus relieving the seller of the expenses and lack of income associated with the property. Additionally, because the property or item is going to sell at any price this attracts more bidders/buyers in an otherwise saturated market or depressed market.
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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 absolute auction and confirmation auction?
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.
The minimum amount for which a seller will entertain bids in an auction?
Upset PriceIn the UK it is called a reserve.
What is definition of absolute auction?
There is no reserve--whatever the high bid is--it sells for that amount.
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.
Can a seller back out of an absolute auction?
No its a crime for which you can go to jail.
Benefit of forward auction to seller?
increases selling
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.
Is there a starting bib at an absolute auction?
yes
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.
What is absolute monopoly?
monopoly refers to a single seller in the market structure
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 absolute auction and confirmation auction?
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.
What are the absolute advantages that Brazil has?
coffee
What is point of sale and advantages?
Well the point for sale and advantages is pretty obvious and simple both for the buyer and seller. If you are a buyer you don't have to pay much and for a seller they get more customers.
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.
