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Types of Auctions

Absolute Auction
Absolute Auction

Welcome to Absolute Auction & Realty. Thank you for taking the time to visit us. In 1946, we began serving the auction and appraisal needs of the Hudson Valley.

Minimum Bid Auction
Minimum Bid Auction

Minimum bid – The smallest opening bid that will be accepted. A minimum bid can be as little as USD$0.01 (one cent) depending on the auction. If no one bids at the initial minimum bid, the auctioneer may lower the minimum bid so as to create interest in the item.

Reserve Auction (an Auction Subject to Confirmation)
Reserve Auction (an Auction Subject to Confirmation)

Alternatively, the seller can tell the auctioneer to get as close to the reserve price as possible. In this instance, the auctioneer will announce the home sold subject to owner confirmation, and the owner has a few days in which to decide whether to accept the price.

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