Absolute Auction Sample Clauses
An Absolute Auction clause defines a type of auction in which the property or item is sold to the highest bidder without any minimum reserve price or seller-imposed conditions. In practice, this means that once bidding begins, the seller is obligated to accept the highest bid, regardless of the amount, and cannot withdraw the item if the price is lower than expected. This clause ensures transparency and encourages competitive bidding by guaranteeing that the sale will occur, thereby eliminating uncertainty for bidders and preventing the seller from backing out due to unsatisfactory offers.
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Absolute Auction. The property will be sold to the highest bidder upon completion of the auction, regardless of price. There is no minimum bid or reserve price on the property.
Absolute Auction. The property is being sold to the highest bidder regardless of price.
Absolute Auction. The Sealed Bid Auction is an Absolute Auction with no minimum bid or reserve price. The property shall be sold the winning bidder, regardless of the high bid price received.
Absolute Auction. AUCTION COMPANY shall solicit bids for the Consigned Property (“Auction”). Furthermore, the Consigned Property (except appliances) will be sold only at an Auction to the highest bidder regardless of the amount of the final bid, with no limiting conditions, restrictions, or reservations (“Absolute Auction”). However, CRS may reserve the right assign ‘Starting Bids’ to appliances.
Absolute Auction. The undersigned agrees to pay a commission for the sale of the consigned chattel which will equal the following percentage of the gross sale price: 15 % for $0-$500; 10% for $501-$2500; 6% for $2501 and higher. The commission will be payable, without interest, within fifteen (15) days of the auction. The property must be unloaded one week prior to auction, and loaded within one week following the auction.
Absolute Auction. The Online Auction is an Absolute Auction with no minimum bid or reserve price. The property shall be sold the winning bidder, regardless of the high bid price received.