LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

What is the difference between an English auction and a sealed-bid auction?

English auctions are only held in England; sealed-bid auctions are international In an English auction, bidding is open and ascending; in a sealed-bid auction, all bids are submitted privately English auctions do not require a licensed auctioneer Sealed-bid auctions always result in higher sale prices

Correct Answer:

In an English auction, bidding is open and ascending; in a sealed-bid auction, all bids are submitted privately

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