AL Auctioneer Practice Questions - Alabama Licensed Auctioneer Exam

In an English auction, how is the price determined?

Bidders compete by offering progressively higher bids until no one will bid more The auctioneer sets a fixed price and buyers decide whether to purchase Bidders submit sealed bids and the highest wins The price starts high and decreases until someone bids

Correct Answer:

Bidders compete by offering progressively higher bids until no one will bid more

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