In order to advertise an auction as ‘Absolute’ or ‘No Reserve’, the following criteria must be met:
The opening bid is $5.
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.