What Is Another Meaning Of The Word Auction?

Can you back out of an auction bid?

If you are the highest bidder, you have to sign the contract, and there is no cooling-off period..

What does royal mean?

1a : of kingly ancestry the royal family. b : of, relating to, or subject to the crown the royal estates. c : being in the crown’s service Royal Air Force.

What is another word for master?

SYNONYMS FOR master 1 adept, expert. 28 main, leading, primary, prime, cardinal. 33 adept, expert, skillful. 35 subdue, control.

What is another word for auction?

In this page you can discover 31 synonyms, antonyms, idiomatic expressions, and related words for auction, like: sale, sell, Sothebys, auctions, , ebay, mart, Sotheby’s, public sale, bankruptcy sale and sell at auction.

What is a public auction called?

A government auction or a public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government or property which is sold under the authority of a court of law or a government agency with similar authority.

What do you call someone who bids at an auction?

Bid Caller: The person who actually “calls,” “cries” or “auctions” the property at an auction, recognizing bidders and acknowledging the highest bidder. Commonly known as the auctioneer.

What is a antonym for chorus?

noun. ( ˈkɔrəs) The part of a song where a soloist is joined by a group of singers. Antonyms. inactivity natural object straight line curve uncover noncompliance nonconformity.

How do you pay at an auction?

While some auctions have very specific payment options, like credit cards only, most accept cash, checks and cards. You’ll usually take your items with you, but some auction houses will ship or hold your purchases for a fee.

How do public auctions work?

It is an open ascending price auction where participants bid against each other, with each subsequent bid being higher than the previous bid. The auctioneer announces the prices, and the bidders call out their bids until no participant is willing to bid higher.

How do you win an auction?

The expert secrets to winning an auctionWait to place your first bid. … Make your first bid a strong figure that reflects the market value. … Bid with rounded figures. … Go in with a counter bid quickly and confidently. … Talk with the real estate agent. … Set a budget and stick to it.

What does the word auction mean?

1 : a sale of property to the highest bidder. 2 : the act or process of bidding in some card games.

What is the purpose of an auction?

An auction is a sales event wherein potential buyers place competitive bids on assets or services either in an open or closed format. Auctions are popular because buyers and sellers believe they will get a good deal buying or selling assets.

What is meant by auction sale?

An auction sale is a public sale. The goods are sold to all members of the public at large who are assembled in one place for the auction. Such interested buyers are the bidders. … And the goods will be sold to the bidder with the highest bid. The person carrying out the auction sale is the auctioneer.

What is the minimum price at an auction called?

reserve priceA reserve price is a minimum price a seller is willing to accept from a buyer. In an auction, the seller is not required to disclose the reserve price to potential buyers. If the reserve price is not met, the seller is not required to sell the item, even to the highest bidder.

Why do bidders talk so fast?

They talk like that to hypnotize the bidders. Auctioneers don’t just talk fast—they chant in a rhythmic monotone so as to lull onlookers into a conditioned pattern of call and response, as if they were playing a game of “Simon says.” The speed is also intended to give the buyers a sense of urgency: Bid now or lose out.

What is the opposite of auction?

What is the opposite of auction?buytakepurchaseacquiregetattainobtainprocuresecuregain8 more rows

What are the types of auction?

Types of AuctionsAbsolute Auction. Absolute Auction means highest bid wins, regardless of price. … Minimum Bid Auction. Minimum Bid Auctions begin at a minimum price established by the seller. … Reserve Auction. … Sealed Bid Auction. … TwoStep (or Combo) Auction.

What does auction mean in Monopoly?

According to Monopoly’s official rules, when you land on a property space and you choose not to buy it, the property must be auctioned off by the banker, and the other players can bid on it. The auction speeds up the game, makes it more strategic, and allows players to buy properties for less than they usually would.

What are auction rules?

New South Wales If you wish to bid at an auction in NSW, you’ll need to register with the vendor’s real estate agent and be given a bidder’s number. … The buyer is the highest bidder (subject to the reserve price being reached). The auctioneer is entitled to make one bid only on behalf of the seller.

Which means almost the same as drifting?

Synonyms & Near Synonyms for drifting. footloose, meandering, rambling.

What is the difference between auction and bidding?

Bidding: Bidding is competitive offer of a price for a product or a service in order to own the same. … Auction: Whereas auction is a process where buying and selling of goods is up for a bid. Usually an auction is held in order to get the best value of the goods and services to be sold.