In today’s marketplace, there are many different types of auctions, and each one has different methods and procedures. Before a buyer or seller engages in any auction, it is important that he or she knows which type of auction they are dealing with.
At J.J. Kane, we operate using an absolute auction system. Our auctions are open to the public and take place in both online and on-site locations.
Absolute Auction Characteristics
- Bidding starts at $0.
- There is no minimum bid.
- The item for sale is awarded to the individual with the highest bid.
Absolute auctions are very popular because they are simple yet provide benefits to both buyers and sellers. Due to the lack of a starting price and a minimum bid, these auctions are appealing for buyers looking to get a good deal on the equipment offered.
On the other had, sellers enjoy the process of absolute auctions because it allows them to sell their used equipment quickly and easily. It is a win-win scenario to everyone involved, and J.J. Kane hopes to provide an enjoyable absolute auction experience to all of its customers.
For more information about our auction process and what to expect please visit our FAQ page.