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- 21 Nov 2023, 18:59
- Forum: IFRS-related topics
- Topic: Performance bonds - auction house
- Replies: 0
- Views: 1507
Performance bonds - auction house
An auction house provides a minimum price guarantee to the seller which is payable if the guaranteed price is not achieved at the auction. So if the auction price is higher than the guaranteed amount, the AH will receive a share of the profit. If the price is lower than the guarantee, AH has to pay ...