Affiliate Auctioneer License Practice Test

Question: 1 / 400

In the context of auctions, what does the term 'bidder' refer to?

An individual who evaluates the goods before auction

An individual who participates in the bidding process

The term 'bidder' specifically refers to an individual who actively engages in the bidding process during an auction. This person makes offers, known as bids, for items that are up for sale, with the intention of winning the auction by having the highest bid before the auction closes. Bidders are crucial to the auction process as their participation determines the final price of the items being auctioned.

The other choices describe different roles that may exist in the context of an auction, such as evaluating goods before the bidding starts, selling items, or organizing the event. However, these roles do not align with the definition of a bidder, who is solely focused on making bids in an attempt to acquire merchandise.

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An individual who sells the items being auctioned

An individual who organizes the auction event

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