TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

Access More Questions

A Tennessee auctioneer is conducting a reserve auction. The seller has set a reserve price of $10,000. The highest bid received is $8,500. What should the auctioneer do?

Accept the $8,500 bid since it was the highest Withdraw the item since the reserve price was not met Lower the reserve to match the highest bid Disclose the reserve price to encourage higher bidding

Correct Answer:

Withdraw the item since the reserve price was not met

Access more questions from this quiz

Continue to TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam for more practice questions and the full quiz experience.

Access More Questions