Required Criteria to Promote an Auction as Absolute

In order to advertise an auction as “Absolute" or “No Reserve," the following criteria must be met:

• The opening bid is $10.

• The intent is to transfer ownership to the high bidder, regardless of the high bid amount.

• The assets are free of liens or other encumbrances, or a financially responsible party signs a binding commitment to guarantee all liens will be satisfied regardless of the high bid amount.

• Assets cannot be pulled from absolute auctions once the auction is published.