A numerical listing of items available for sale at auction, often including detailed descriptions, quantity, unit, and the terms and conditions of the auction.
A numerical listing of items available for sale at auction, often including detailed descriptions, quantity, unit, and the terms and conditions of the auction.
An arrangement in which a real estate professional representing a potential bidder in a real estate transaction is able to earn a share of the auction company’s commission.
A real estate professional who represents the buyer in a real estate transaction.
The dollar amount by which the current bid is advanced.
A method of sale whereby the successful high bidder wins the right to choose a lot or lots from a grouping of similar or like-kind items. After the high bidder’s selection, the lot is deleted from the group, and the second round of bidding commences, with the high bidder in round two choosing a lot,… Continue reading BIDDER’S CHOICE (BUYER’S CHOICE)
The number issued to each person who registers at an auction.
A bidder’s kit is the package of information and instructions pertaining to the real estate property being offered for sale at auction.
Employees of the auction company who assist the auctioneer in recognizing bids from prospective buyers. They also provide information to prospective bidders to assist them in their buying decision. They are also known as ringmen or bid spotters.
An offer of a price that a bidder is willing to pay for property at auction. Bids are usually in standardized increments established by the auctioneer.
An auction conducted in a room in which the bidders are seated and the property offered for sale is displayed on projection screens.