Generates maximum response from the entire marketplace. Sellers risk is reduced because selling price must be the minimum or above. Buyers aware that only at the minimum bid shall a sale occur. Interest in the auction may be limited only to those buyers willing to pay at or above the minimum which, therefore must be low enough to induce, and not hinder the auction process. The High Bid is an offer to purchase, but not a confirmed sale.
Seller predetermines an acceptable sales price prior to the auction.
The acceptable price is not published. Seller schedules the time and location as to when the asset will be sold. All contingencies are eliminated prior to bidding. Extensive negotiation periods are eliminated. All right reserved.