Limit
Limit usually designates in auctioneering parlance the price set by the vendor below which there may be no hammer price. The auctioneer has, however, the possibility of going below the limit and giving a conditional hammer price.
Limit usually designates in auctioneering parlance the price set by the vendor below which there may be no hammer price. The auctioneer has, however, the possibility of going below the limit and giving a conditional hammer price.