Updating the reserve price in common value auctions


25-Jul-2017 18:51

It is predetermined auction based on the current high bid.Here, if any bidder places a bid, then current price will increase with an incremental price.The following is a glossary of general auction terms and real estate auction terms developed by the National Association of Realtors “ Real Estate Auction Committee”, and the National Auctioneers Association.AARE (Accredited Auctioneer, Real Estate): The professional designation awarded by the NAA Education Institute to qualified real estate auctioneers who meet the educational and experiential requirements of the Institute and who adhere to a strict code of ethics and standards of practice.Once the auction is closed, the winner(s) typically have 7-14 days in which to send payment for the item(s) to the seller.

updating the reserve price in common value auctions-16

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Auctions begin when a seller Posts a new auction to be bid on in the system.

It is common for an auctioneer to have an assistant to ensure that bidders in the audience are not missed.



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