As in Absolute Auction. This means that whatever is put up for sale will be sold to the highest bidder. That s what the airplane sells for.
Buyers are solely responsible for examining and judging the property for their own protection.
The number issued to each person to registered at an auction. Candle Auction Sale-A candle sale is a type of auction that uses phone mail as the method of bidding. A minimum bid or asking price will be established for a property and prospective bidders will be required to place a deposit with the State in order to participate. The legal terms that govern the conduct of an auction, including acceptable methods of payment, terms, buyer's premiums, possession, reserves and any other limiting factors of an auction. Usually included in published advertisements or announced by the auctioneer prior to the start of the auction.