What is a bank letter of credit?

What is a bank letter of credit?

 What is a bank letter of credit? A letter that may be required at some auctions to show you are approved for a certain amount. The bank letter of credit guarantees the bank will pay the amount of money required. The bank letter of credit is a powerful instrument...
What is a buyer’s premium?

What is a buyer’s premium?

 What is a buyer’s premium? A buyer’s premium is a fee added to your bid price to create the contract price. Buyer’s Premium may be found in other articles within these webpages.     For Other Questions About Auctions & Auctioneers CLICK THIS LINK For...
What do auctioneers say?

What do auctioneers say?

 What do auctioneers say? The fast talk you hear is called the “chant,” spoken at about 600 words per minute. Filler words are used between the asking prices. The auctioneer announces the money that has been bid and the amount the auctioneer is asking. I...