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What is the difference between an auction and liquidation?

April 26, 2017auction Liquidation

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What is the difference between an auction and liquidation?

2 Answers

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In an auction the buyers determine the price by actively bidding until there is only one person left. In liquidation, the prices are preset. Liquidation items can generally be immediately purchased.

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In an auction the buyers determine the price by actively bidding until there is only one person left. In a liquidation, the prices are preset. Liquidation items can generally be immediately purchased.