At an absolute auction, who is allowed to bid on behalf of the owner?

In an absolute auction, the defining characteristic is that the property is sold to the highest bidder without any minimum bid or reserve price. This means that every bid made directly reflects the intent of the actual bidder. The principle behind this type of auction is to ensure transparency and fairness, as it emphasizes the competitive nature of open bidding. Consequently, no one can bid on behalf of the owner, as the essence of an absolute auction is that the owner relinquishes control over the bidding process entirely. This clear line helps to prevent any potential manipulation of the auction outcome, ensuring that all bids are made in good faith from interested parties.

The implication of having no one bid on behalf of the owner reinforces the integrity of the auction process, allowing the market to determine the final price without external influence. Other choices suggest scenarios where proxies or agents are involved, which run contrary to the principles of an absolute auction.