A person (or entity) who does not attend the sale but submits, in advance, a written or oral bid that is the top price he/she will pay for a given property.

An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount. The seller may not bid personally or through an agent, also known as an “Auction Without Re [..]

Selling the property without warranties as to the condition and/or the fitness of the property for a particular use. Buyers are solely responsible for examining and judging the property for their own [..]

The sale of items that are one of a kind or with a small installed base that are not conducive to a traditional auction sale.

Information provided as part of Heritage Global Partners Asset Advisory Services and Appraisals. The rating includes qualitative information on asset installed base, expected technological and financi [..]

A service provided by Heritage Global Partners to inspect and provide pertinent information to prospective bidders. Visits are made by either an in-house expert or a knowledgeable global partner in th [..]

Also known as “Reserve Auction” and “Auction Subject to Confirmation,” an auction in which the seller reserves the right to establish a reserve price, to accept or decline any and all bids, or to with [..]

A letter from a bank certifying that a named person is worthy of a given level of credit. Often requested from prospective bidders or buyers who are not paying with currency at auction.

A prospective buyer’s indication or offer of a price he/she will pay to purchase property at auction. Bids are usually in standardized increments established by the auctioneer.

An advertised percentage of the high bid added to the high bid to determine the total contract price to be paid by the buyer.