An absolute auction is a type of auction in which the sale is awarded to the highest bidder. Absolute auctions do not have a reserve price, which sets a minimum required bid for the item to be sold.
Original Article Source Credits: Investopedia , https://www.investopedia.com/
Article Written By: WILL KENTON
Original Article Posted on: Aug 27, 2020
Link to Original Article: https://www.investopedia.com/terms/a/absolute-auction.asp