Types of Auctions

Types of Auction Sales

Absolute Auction

In this auction the property is sold to the highest bidder, regardless of what the final bidding price ends up being.  The bidder’s excitement and participation are at their very highest in this scenario because a sale is guaranteed.

Reserve Auction

In this situation the highest ending bid is effectively treated as an offer, not a final sale. The seller then reserves the right to accept or reject the highest bid. This method puts more control into the hands of the seller but typically generates less of a bidding response.

Auction Types