absolute auction meaning

• [Business]
  noun [C] (AmE)

  (Commerce )

  an auction in which there is no fixed price that must be reached before the item can be sold, so that sth is simply sold to the person who offers the most money

• Some auctioneers also have absolute auctions with minimum starting bids.
• All are foreclosures by Bankers Trust of California being sold at absolute auction.
• It costs $ 50 to get in to tonight's absolute auction.
• Once an absolute auction begins, the property must be sold to the highest bidder.
• The absolute auction sales started in Texas, and they are catching on around the country.
• The first two parcels will be sold in an absolute auction, meaning they will be sold on auction day to the highest bidder.
• The Fatatos chose perhaps the riskiest method : an absolute auction, without reserve, where the final price is the final price, even if it is $ 1.
• It will be an absolute auction, meaning that the house, the 240 acres, the spacious sale barn and auction arena will all be sold regardless of the price.
• Torres, who came to the United States as a refugee from Castro's Cuba in the early 1960s, said he was ready for the gamble of an absolute auction.
• But while an absolute auction guarantees a house sells no matter what the price, Higgenbotham has organized this auction with seller reserves _ if the owners don't get their price, they don't have to sell.

• "absolute auction" meaning in Chinese: [网络] 绝对的拍卖；绝对拍卖形式；无条件拍卖时