1 / 1

Understanding Auction Terms In Online Liquidation Sales

Understanding the basic MN auction terms in online liquidation sales is critical to making informed decisions and avoiding surprises. Whether you are a seasoned buyer or a newcomer, familiarizing yourself with these terms will help ensure that you are prepared to navigate the online auction world effectively. To know more visit here https://www.auctionmasters.com/

russellgray
Download Presentation

Understanding Auction Terms In Online Liquidation Sales

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Understanding Auction Terms In Online Liquidation Sales STARTING BID The starting bid is the minimum amount set by the seller or MN auction platform for an item. It serves as the baseline price, and bids begin at this amount. RESERVE PRICE A reserve price is the minimum price the seller is willing to accept for an item. If the bidding doesn’t meet or exceed the reserve price, the item may not be sold. BID INCREMENT The bid increment refers to the minimum amount that a bid must increase to outbid the previous bid. Auction platforms set bid increments based on the item’s value. BUYER'S PREMIUM The buyer's premium is an additional fee added to the final bid price. It is a percentage of the final bid amount and is charged by the auction platform or seller.

More Related