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The popularity of auctions is increasing, as is the need for good auctioneers. Auctioneers are not as affected by a recession as some occupations. Sadly, a recession may mean more auctions, since many people are forced to sell their goods to get quick cash. In addition, auctions are often held to sell the contents of the houses and estates of deceased individuals, which means there will always be a need for auctioneers

A Short List of Auction Terms

Absentee bidder A person who is not at the sale but who submits a top-price bid in advance.

Absolute auction An auction where goods are sold to the highest bidder with no limiting conditions.

Appraisal The process of estimating the value of an item.

As is Selling the item without any sort of warranty.

Bidder number The number issued to each person registered at an auction.

Estate sale The sale of property left by a person who has died.

Reserve bids The minimum price that a seller will accept for an item. If this price is not reached, the auctioneer can pass on the sale.

Tie bids When two or more bidders bid the same price at the same time and the auctioneer has to settle the conflict.

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