SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

What is the 'hammer price' at an auction?

The price of the auctioneer's gavel The final winning bid amount at which an item is sold, before any buyer's premium or taxes are added The opening bid price The reserve price

Correct Answer:

The final winning bid amount at which an item is sold, before any buyer's premium or taxes are added

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