Quantum Auctions uses two (2) auction types: Absolute and Minimum Price, at Seller’s choice.
Minimum Price:
- Seller sells at or above a stated minimum price. Protects sellers from offers that are too low.
- Is effective only if the minimum bid is low enough to stimulate buyer’s interest.
- No ceiling price is set on the aircraft, which allows the price to increase freely with no limit through aggressive bidding.
- Attracts buyers because of the minimum price.
- Sends a strong message to the bidders that the seller is realistic and the airplane will be sold on auction day.
- Bidders also realize they must bid because the aircraft will be auctioned on a certain day and then the airplane is gone.
Absolute:
Seller is legally required to sell the aircraft at the auction regardless of price. This is the purest, and in many cases, the most successful form of an auction of getting the highest price.
