Auction Glossary
Every auction term, in plain English.
Auctions have their own language — formats, bidding mechanics, and settlement terms. This glossary explains them clearly, and links each concept to the Unovance platform that runs it.
Timed AuctionWebcast AuctionLive AuctionSealed Bid AuctionDutch AuctionReverse AuctionVickrey AuctionEnglish AuctionAbsolute AuctionReserve AuctionReserve PriceNo-Reserve AuctionBuyer's PremiumProxy BiddingMax BidAbsentee BidBid IncrementHammer PriceWinning BidSoft Close & Auto-ExtendMulti-Par AuctionStalking Horse BidConsignorBuybackHouse Bidder NumberLottingCatalogingClerkingSettlementSimulcast AuctionFast Block AuctionRFP AuctionAscending AuctionMarketplace AuctionPenny AuctionBuy It NowHybrid (Retail + Auction)
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