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Yes. The rule is that the bidder is making an offer to buy and the auctioneer accepts this in whatever manner is customary, usually the fall of the hammer. A bidder may withdraw his or her bid at any time before the fall of the hammer, but any bid in any event lapses as an offer on the making of a higher bid, so that if a higher bid is made, then withdrawn before the fall of the hammer, the auctioneer cannot then purport to accept the previous highest bid. If an auction is without reserve then whilst there is no contract of sale between the owner of the goods and the highest bidder (because the placing of goods in the auction is an invitation to treat) there is a collateral contract between the auctioneer and the highest bidder that the auction will be held without reserve (i.e., that the highest bid, however low, will be accepted).
What else can I help you with?
Do you have to be a certified auctioneer to bid on unclaimed storage units in Canada?
You don't have to be an licensed auctioneer to bid, but you have to be an auctioneer to call bids.
Who is the agent who sells goods to those who bid at the highest price?
Auctioneer, seller, trading assistant, consignor
What does an auctioneer use?
Traditionally an auctioneer would use a gavel, which is a small ceremonial mallet commonly made of hardwood, this would be struck against another piece of wood to indicate a winning bid for the item being sold.
Can an auctioneer advance the bid?
Yes, but only if they have the profits to.
Can the auctioneer bid at an auction?
Yes. The rule is that the bidder is making an offer to buy and the auctioneer accepts this in whatever manner is customary, usually the fall of the hammer. A bidder may withdraw his or her bid at any time before the fall of the hammer, but any bid in any event lapses as an offer on the making of a higher bid, so that if a higher bid is made, then withdrawn before the fall of the hammer, the auctioneer cannot then purport to accept the previous highest bid. If an auction is without reserve then whilst there is no contract of sale between the owner of the goods and the highest bidder (because the placing of goods in the auction is an invitation to treat) there is a collateral contract between the auctioneer and the highest bidder that the auction will be held without reserve (i.e., that the highest bid, however low, will be accepted).
Can the auctioneer bid at a storage locker auction?
I do not believe the auctioneer can bid on the unit being auctioned. Check specific state lien laws though. They vary quite a bit from state to state.
How does a bidder at a live auction indicate to an auctioneer that the bidder will not bid higher?
Usually the auctioneer points at you or says something that stands out about you and gives you a higher price, and usually the bidder shakes his head or shakes his finger to indicate that he won't be going higher
What is the highest bid for upgrade that has been placed on this item?
The highest bid for an upgrade on this item is 500.
What is the difference between bid and ask prices in trading?
The bid price is the highest price a buyer is willing to pay for a security, while the ask price is the lowest price a seller is willing to accept. The difference between the bid and ask prices is known as the spread.
What is the difference between the bid and ask price for bonds?
The bid price is the highest price a buyer is willing to pay for a bond, while the ask price is the lowest price a seller is willing to accept. The difference between the bid and ask price is known as the spread.
What is the difference between the bid and ask stock price?
The bid price is the highest price a buyer is willing to pay for a stock, while the ask price is the lowest price a seller is willing to accept. The difference between the bid and ask price is known as the spread.
What is the difference between a bond bid and ask price?
The bond bid price is the highest price a buyer is willing to pay for a bond, while the bond ask price is the lowest price a seller is willing to accept for the bond. The difference between the bid and ask price is known as the bid-ask spread.
