LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

What distinguishes an absolute auction from a reserve auction?

Absolute auctions require cash payment only In an absolute auction, the item must be sold to the highest bidder regardless of price Absolute auctions are limited to real estate Absolute auctions do not require a licensed auctioneer

Correct Answer:

In an absolute auction, the item must be sold to the highest bidder regardless of price

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