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229 Grandview Dr Old Hickory, TN 37138 MLS Auction! MLS Auction 09/06/2025 Auction 09/06/2025 10:00 AM ABSOLUTE AUCTION SATURDAY SEPTEMBER 6, 2025 Located 229 Grandview Dr • Old Hickory TN 37138 DIRECTIONS: From I-40 Exit 221, Hermitage, TN, head north on Old Hickory Blvd 1.1 miles. Turn Right onto Andrew Jackson Parkway […]
Hwy 231 South Lot 24
July 26th, 2025
SOLD! 0 US Hwy 231 South, Lot 24 Castalian Springs, TN 37031 MLS Auction! MLS Auction 07/26/2025 SOLD! ABSOLUTE AUCTION SATURDAY, JULY 26, 2025 @ 10:00AM Located 0 Hwy 231 South • Castalian Springs • TN •37031 DIRECTIONS: From Historic Lebanon Square: Head north on North Cumberland St/US-231N 10.3 miles. Sale will […]
Badru Estate – 2
July 19th, 2025
SOLD! 607 Ridgecrest Ln Lebanon, TN 37087 Auction 07/19/2025 10:00 AM SOLD! ABSOLUTE AUCTION SATURDAY JULY 19, 2025 Located 607 Ridgecrest Lane • Lebanon, TN 37087 DIRECTIONS: From Historic Lebanon Square travel west on West Main St (HWY 70) 5.6 miles, turn right onto Five Oaks Blvd., in 0.6 mile, turn right […]
2101 NONAVILLE RD
July 2nd, 2025
SOLD! 2101 Nonaville Rd Mt Juliet, TN 37122 Auction 07/17/2025 6:00 PM SOLD! ABSOLUTE AUCTION THURSDAY JULY 17, 2025 @ 6:00PM Located 2101 Nonaville Road • Mt Juliet DIRECTIONS: From Historic Lebanon Square: Head west on West Main St /US-70 W/Lebanon Rd., 13.8 miles, turn right onto Nonaville Rd., 2.1 miles […]
Badru Estate
June 27th, 2025
SOLD! Badru Estate TN SOLD! ABSOLUTE AUCTION SATURDAY JULY 12, 2025 • BEGINNING at 10AM LOCATIONS Progressive Absolute Auction beginning at 10:00am on Saturday July 12, 2025 10:00am: 1420 Journey Drive • Murfreesboro TN 11:30am: 139 Rocky Rd • Lebanon TN 12:30pm: 2150 Lebanon Rd • Lebanon TN 1:30pm: 306 Belinda […]
9580 Trousdale Ferry Pike • Lebanon TN
June 13th, 2025
SOLD! 9580 Trousdale Ferry Pike Lebanon, TN 37090 MLS Auction! MLS Auction 06/28/2025 Auction 06/28/2025 10:00 am SOLD! ABSOLUTE AUCTION SATURDAY JUNE 28, 2025 @ 10am LOCATED 9580 TROUSDALE FERRY PIKE • LEBANON, TN 37090 DIRECTIONS: From Historic Lebanon Square travel east on East Main Street, turn right on East Baddour […]
3100 SE Tater Peeler Rd • Lebanon
June 2nd, 2025
SOLD! 3100 SE Tater Peeler Rd Lebanon, TN 37090 Auction 06/21/2025 10:00 am SOLD! ABSOLUTE AUCTION SATURDAY JUNE 21, 2025 @ 10:00am LOCATED 3100 SE TATER PEELER RD • LEBANON TN 37090 DIRECTIONS: From Historic Lebanon Square travel south on US Hwy 231 S, 2.9 miles, turn left on Stumpy Lane, .7 […]
610 Rome Pike • Lebanon
May 16th, 2025
SOLD! SOLD! $540,000 610 Rome Pike Lebanon, TN 37087 MLS Auction! MLS Auction 05/31/2025 Auction 05/31/2025 10:00am SOLD! SOLD! $540,000 ABSOLUTE AUCTION SATURDAY MAY 31, 2025 @ 10am LOCATED 610 ROME PIKE • LEBANON, TN 37087 DIRECTIONS: From Historic Lebanon Square travel north on North Cumberland Street, .3 mile, turn right […]
1250 Athens Rd • Lebanon
May 24th, 2025
SOLD! SOLD $306,000! 1250 Athens Rd Lebanon, TN 37087 MLS Auction! MLS Auction 05/24/2025 Auction 05/24/2025 10:00am SOLD! SOLD $306,000! ABSOLUTE AUCTION SATURDAY MAY 24, 2025 @ 10am LOCATED 1250 ATHENS RD • LEBANON, TN 37087 DIRECTIONS: From Historic Lebanon Square travel north on North Cumberland Street, turn right on East […]
212 Piedmont Dr • Lebanon
May 17th, 2025
SOLD! SOLD $325,000! 212 Piedmont Dr Lebanon, TN 37087 MLS Auction! MLS Auction 05/17/2025 Auction 05/17/2025 10:00am SOLD! SOLD $325,000! ABSOLUTE AUCTION SATURDAY MAY 17, 2025 Located 212 Piedmont Dr • Lebanon, TN 37087 DIRECTIONS: From Historic Lebanon Square travel south on US-231 / South Cumberland, 1.5 miles, turn right on Holloway […]
Absolute Auction: What It Is, How It Works, Example
Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU.
Updated October 04, 2024
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Part of the Series
Foreclosure
- Avoid Foreclosure
- Workout Agreement
- Mortgage Forbearance Agreement
The Pre-forclosure Period
- Pre-foreclosure
- Deliquent Mortgage
- How Many Missed Mortgage Payments?
- When to Walk Away
How Foreclosures Work
- Phases of Foreclosure
- Judicial Foreclosure
- Sheriff’s Sale
- Your Legal Rights in a Foreclosure
- Getting a Mortgage After Foreclosure
Investing in Foreclosures
- Buying Foreclosed Homes
- Investing in Foreclosures
- Investing in REO Property
- Buying at an Auction
- Buying HUD Homes
Foreclosure Terms (A-O)
CURRENT ARTICLE
Foreclosure Terms (P-S)
- Power of Sale
- Principal Reduction
- Real Estate Owned (REO)
- Right of Foreclosure
- Right of Redemption
Foreclosure Terms (T-Z)
- Tax Lien Foreclosure
- Trust Deed
- Voluntary Seizure
- Writ of Seizure and Sale
- Zombie Foreclosure
What Is an Absolute Auction?
An absolute auction is a type of auction in which the sale is awarded to the highest bidder. Absolute auctions do not have a reserve price, which sets a minimum required bid for the item to be sold.
Key Takeaways
- Absolute auctions are a popular type of auction, especially for those looking to make a cash sale quickly without complications.
- A well-advertised absolute auction will usually bring in a large number of bidders.
- Farm equipment and machinery are some items that are often sold at an absolute auction.
How an Absolute Auction Works
There are many different types of auctions. A sealed bid auction, for example, is an auction in which people submit secret bids, while in a Dutch auction, the auctioneer starts at a high price and decreases it until somebody agrees to buy the item for that price.
An absolute auction is the “classic” type of auction where the item—whether real estate or any other type of produce—is sold to the highest bidder, regardless of the price. This is also called an English auction. Since there is no reserve price or minimum floor above which bidding must start, the bidding in an absolute auction starts at $0.
Absolute auctions can occur in various venues, including the foreclosure marketplace, the online marketplace (such as eBay.com), or live auction events. School foundations and charities, for example, often hold absolute auctions to raise money.
Absolute auctions are often implemented where there is an immediate demand to sell an item.
Absolute Auction vs. Lender Confirmation Auction
One type of absolute auction relates to foreclosed properties, where the winning bid acquires the foreclosed property. Although it is highly unlikely, if only one person were to show up at an absolute auction, their bid would be accepted, no matter how low the amount of money being bid.
An absolute auction is different from a lender confirmation auction, in which the lender must approve the bid in order to complete the transaction. In real estate, if a foreclosure is sold at a lender confirmation auction, the highest bidder does not necessarily win. The individual with the winning bid must not only have the money to spend but must also be vetted and accepted by whoever is holding the mortgage, be it a bank or the government.
Important
Foreclosed properties are often sold via an absolute auction; potential buyers can find out from the mortgage holder (often a bank) if the property will be sold at an absolute auction or by a lender confirmation auction.
Example of an Absolute Auction
John and Jane have decided to close their farm equipment business. They want to immediately liquidate all of the items in the business and do not have a minimum price they are trying to get for any of the items. They hold a live auction in which the bidding starts at $0 for the items and the highest bidder for each piece of equipment wins it. This is an example of an absolute auction.
What Are the 3 Types of Auctions?
The English auction (increasing price), the Dutch auction (open descending price), and the sealed bid auction (sealed envelope or silent auction) are the three types.
How Do I know If an Auction Company is Legitimate?
Auction companies are generally endorsed, accredited, or have professional affiliations that demonstrate legitimacy.
What Do Auction Houses Do With Unsold Items?
Auction houses generally try to sell unsold items in other auctions because there will be different audiences. These audiences might find the items more attractive than previous one did.
The Bottom Line
Absolute auctions are auctions where there is no reserve requirement and the sale goes to the highest bidder.
Article Sources
- National Auction Association. “Consumer FAQs.” Select “What Are the Differences Between an Absolute and Reserve Auction?”
Part of the Series
Foreclosure
- Avoid Foreclosure
- Workout Agreement
- Mortgage Forbearance Agreement
The Pre-forclosure Period
- Pre-foreclosure
- Deliquent Mortgage
- How Many Missed Mortgage Payments?
- When to Walk Away
How Foreclosures Work
- Phases of Foreclosure
- Judicial Foreclosure
- Sheriff’s Sale
- Your Legal Rights in a Foreclosure
- Getting a Mortgage After Foreclosure
Investing in Foreclosures
- Buying Foreclosed Homes
- Investing in Foreclosures
- Investing in REO Property
- Buying at an Auction
- Buying HUD Homes
Foreclosure Terms (A-O)
CURRENT ARTICLE
Foreclosure Terms (P-S)
- Power of Sale
- Principal Reduction
- Real Estate Owned (REO)
- Right of Foreclosure
- Right of Redemption
Foreclosure Terms (T-Z)
- Tax Lien Foreclosure
- Trust Deed
- Voluntary Seizure
- Writ of Seizure and Sale
- Zombie Foreclosure
- Business
- Business Essentials
Partner Links
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Absolute Auction 72+/- Properties – Evansville, Vanderburgh County, IN
On behalf of the Vanderburgh County Commissioners, Curran Miller Auction / Realty, Inc. will offer 72 +/- properties owned by the County.
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Auction Info
Login to your account ahead of the auction starting to ensure you have access and are ready to bid.
Pre-Registration will open Monday, July 18th.
From the 18th – Auction day bidders will need to login/create an account with Curran Miller,
then click “click here to bid” and register for the auction. Our staff will then review your bidder account and notify you of your auction bidding approval.
ABSOLUTE AUCTION
72+/- PROPERTIES
OWNED BY VANDERBURGH COUNTY
Evansville, IN
LIVE AUCTION WITH ONLINE BIDDING BEGINS:
Wed., Aug. 10th at 10 AM
Doors Open at 9 AM
LIVE AUCTION LOCATION:
ONB Events Plaza
715 Locust Street – Evansville, IN
Commissioner Auction page:
ALL PROPERTIES MUST BE PAID FOR IN FULL BY 2:00 PM ON AUGUST 10TH!
On behalf of the Vanderburgh County Commissioners, Curran Miller Auction / Realty, Inc. will offer 72+/- properties owned by the County.
In order to increase buyer confidence at the auction, the Vanderburgh County Commissioners have sought Quiet Title orders for each property to be sold verifying the property is free and clear of all liens and encumbrances* on the properties.
The real estate offered in this auction is sold “As-Is” and bidders are highly encouraged to conduct their own due diligence.
*(except for certain federal liens)
Registering for the auction in advance is mandatory
Pre-registering will take place via the online bidding platform starting 8:00 AM JULY 18th and ends at NOON AUG. 9TH.
Bidders registering on the day of the auction will not receive a discounted administrative fee and a bidding number is not guaranteed.
Once approved, bidders will be able to place bids online prior to and during the simulcast auction on A.
(Buyers that do not pre-register may be denied buyer credentials or be subject to additional bidding fees.)
2022 VANDERBURGH COUNTY COMMISSIONER’S AUCTION TERMS