Which auction type typically involves no minimum required bid?

In an absolute auction, there is no minimum required bid, which distinguishes it from other auction types. This format encourages potential buyers to participate actively, as they know that the item will be sold regardless of the final bid amount. The seller agrees to sell the item to the highest bidder, without setting a minimum price. This approach can often lead to higher levels of competition among bidders, as there is an element of excitement with no price barrier to entry.

In contrast, reserve auctions set a minimum price that must be met for the item to be sold, which can deter bidders if they feel the reserve price is too high. Timed auctions and online auctions can vary in terms of whether they have minimum bids, but they do not inherently contain the requirement of no minimum bid that characterizes absolute auctions. Therefore, the defining feature of an absolute auction directly supports its classification as the type of auction that typically involves no minimum required bid.