In the auction process, there are two types of auctions. That’s right, TWO. Simple isn’t it. ABSOLUTE and RESERVE (also
called UPON CONFIRMATION).
- ABSOLUTE AUCTION – If a specific property is advertised as an absolute auction, then the property
is going to sell…….PERIOD. It will sell to the highest and last bidder recognized by the auctioneer.
- RESERVE or UPON CONFIRMATION –
In a reserve auction, the seller reserves the right to accept, decline, or even counter-offer the final and highest bid acknowledged
by the auctioneer. A reserve auction has a little twist though in that it can be converted to an absolute auction. During
the auction, should the seller decide their selling price has been met, and it can be announced as such, it then turns into an absolute
As a seller, you make the determination as to the type of auction you wish to be conducted on your behalf. The professionals
at YOUNT AUCTION AND REALTY will use their 25+ years of experience to assist you in making the appropriate decisions. Our goal
is to gain you the maximum price for your property that the market will allow.
© Copyright 2016 Yount Auction and Realty, Inc.
P.O. Box 742 Claremont, NC 28610 828-459-7335 828-459-2070 (Fax)
Auction Terms; Page 1
Why Auction Your Property
Yount Auction and Realty, Inc.
P.O. Box 742
Claremont, NC 28610