What is the rule regarding withdrawing items at an absolute auction?

In an absolute auction, also known as an unreserved auction, all items are sold to the highest bidder without limitations or conditions. This means that once the auction begins, the items are considered to be committed to sale, and the seller relinquishes any right to withdraw them from auction.

This characteristic is what distinguishes absolute auctions from reserved auctions, where a seller can set a minimum price and has the right to withdraw items if that price is not met. Therefore, the essence of an absolute auction is transparency and assurance to bidders that the items will be sold regardless of the bid amounts. Bidder confidence is enhanced as they know that their bids will result in a purchase.

In this context, items cannot be withdrawn at all once the auction starts, maintaining the integrity of the auction process and the expectations of all participants.