minimum bid: Minimum Bid Auctions.
- 03/10/10 06:45 AM
A minimum bid auction also called minimum published bid, is an auction for which the lowest acceptable price is pre-determine by the seller and the auction comapny. The minimum price is stated in the auction literature and advertisesments. It is also announced during the auction. When bidding reaches the minimum amount the property can go about the posted minimum amount and will be sold to the highest bidder,. Unlike an absolute auction, however the minimum bid auction creates a safety net for the seller. Disadvantages of minimum bid auctions are that they may limit a seller's interest to buyers only willing … (0 comments)
A minimum bid auction also called minimum published bid, is an auction for which the lowest acceptable price is pre-determine by the seller and the auction comapny. The minimum price is stated in the auction literature and advertisesments. It is also announced during the auction. When bidding reaches the minimum amount the property can go about the posted minimum amount and will be sold to the highest bidder,. Unlike an absolute auction, however the minimum bid auction creates a safety net for the seller.
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