What is one characteristic of an absolute auction?

In an absolute auction, one defining characteristic is that items are sold regardless of price. This means that the auctioneer commits to selling the items to the highest bidder, no matter the amount of the winning bid. This type of auction generates excitement and encourages competitive bidding, as bidders know that the item will be sold without a minimum price threshold.

By not having a reserve price, which is a minimum amount that an item must reach in order for the seller to agree to the sale, absolute auctions can attract a wider range of bidders. Bidders are often more motivated to participate when they believe they may secure an item for a lower price than they might expect, knowing the seller has committed to accept the highest bid without reservations.

The other choices involve conditions that do not apply to absolute auctions. For instance, selling items with a reserve indicates a minimum price must be met for a transaction to be finalized, which contradicts the nature of absolute auctions. Pre-registration can be required in various types of auctions, but it is not a defining characteristic of an absolute auction. Likewise, if the auctioneer has discretion over the final bid, it would imply there are terms that can lead to negotiations or reserves, which again is not consistent with the essence of an