In a minimum bid auction, what does the auctioneer accept?

In a minimum bid auction, the auctioneer accepts bids that meet or exceed a predetermined minimum price, which is essential for ensuring that the property is sold at a value that the seller deems acceptable. This type of auction is designed to protect the seller's interests by not allowing the property to be sold for less than a specific threshold, which is critical in real estate transactions where property values can fluctuate significantly.

Accepting bids at or over the specified minimum price allows for a competitive environment, encouraging bidders to place higher offers while ensuring that the seller is not left with an unsatisfactory sale price. This method also streamlines the auction process by establishing a clear standard that all participants must follow.

The other choices, such as accepting only cash bids, bids from established buyers, or bids from online participants, do not encapsulate the broader acceptance criteria as outlined in a minimum bid auction setting. While those restrictions might apply in certain contexts, the fundamental characteristic of a minimum bid auction is primarily based on the monetary value of the bids rather than the method of payment or the identity of the bidder.