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absolute auction
ab·so·lute auc·tion (plural ab·so·lute auc·tions)


noun 
Definition:
 
auction with no minimum price: an auction in which the sale is made to the highest bidder and no minimum price is stipulated
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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