About Auctions
1. Types of auctions There are two broad types of auctions across the world, and a third variant in the event where reserve is not met as outlined here under: 1.1. Absolute auction or auction without reserve Regulation 18 (1)…
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1. Auction terms and definitions The following terms and definitions apply to auctions. 1.1. “Absentee or commission bid” refers to a procedure that allows a bidder to participate in the bidding process without being physically present. Generally, a bidder submits…
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1. Auction myths and mysteries 1.1. The stigma traditionally associating auctions with the disposal of distressed estates is the single biggest misconception about auctions. It is a myth that auctions are all about the disposal of distressed estates; be it…
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