absolute auction
noun[C]
ukusCOMMERCE
anauction(=typeofsale)where something issoldto thepersonwhooffersthe mostmoney, and does not have areserveprice(=minimumsaleprice):
Although thesellerwasdisappointedby thebid, he had nochoicebut tosellsince thevehiclewassoldin anabsoluteauction.