Absolute vs. Reserve Auction? Which is it?
Many of you know, in addition to traditional listings, we conduct auctions with or without a reserve. You may be asking yourself, “What is the difference between an auction with a reserve and one without a reserve?” With an “auction with reserve,” the seller has set a minimum dollar amount he or she is willing to accept for the property. An auction that does not have a reserve, is traditionally called an “absolute” auction, meaning the property will sell to the highest bidder