An absolute auction is a type of auction where the property is sold to the highest bidder without any minimum price requirement, meaning there's no reserve price set.
An auctioneer is a professional who conducts auctions, manages bidding processes, and finalizes sales or transfers of property through public competition.
Central Trade & Transfer (CTT) is an exchange platform where illiquid real estate investments can be sold, including both auctions and off-auctions activities.
In an auction or other bidding procedure, a reserve price is the minimum amount that the seller is obligated to accept for the item. It ensures that the seller can withdraw the item from the sale if the bidding does not meet this amount.
An upset price, also known as a reserve price, is the minimum price that a seller is willing to accept for an asset, typically set before an auction. It ensures that the seller does not have to sell the asset at an uncomfortably low price.
