Entity that has legal possession and ownership of any interests, benefits or right inherent to the real or personal property, also referred to as a “Consignor.”
A process that extends bidding on an asset for a fixed time, five minutes for example, if a bid is received in the final minutes of an auction. The auction continues until there are.
Sellers that do not have enough goods for an industry specific auction add their items to sector sales with assets of multiple vendors. Each seller’s items are referred to as “Consignments.”
The terms and conditions are the rules that will govern the auction, including how the bidding is handled and how the final purchase will be completed. All potential bidders have to agree to the.
The terms “reserve” and “minimum bid” are interchangeable. The reserve price is the lowest price that the seller wishes to accept for the item. Auctions will often start with bids below the reserve price,.
The term “removal” can have two meanings when it comes to auctions. It can refer to a listing being removed from the auction before the auction begins. It can also mean the terms for.
Online auctions are sales sites in the virtual marketplace that allow bidding, where visitors can buy and sell their goods. They are often a popular choice for selling and purchasing because they have a.
Sellers may list their items with a minimum bid attached to them. This means that this will be the lowest offer that the seller will accept. Oftentimes, this amount will not be disclosed, and.
The lot title will appear above the lot description in the catalog or on the online auction page; it consists of a brief description of the item or group of items being sold. This.
In some auctions, a prospective buyer can inspect equipment before the auction. Typically, equipment is available for inspection days prior to auctions' end, or by appointment with the auctioneer in the days leading up.