What statement must be included if the auction type is absolute?

In an absolute auction, the property is sold to the highest bidder without any reserve or minimum price. This means that every bid made is accepted, and the auctioneer cannot refuse to sell the item if there is a higher bid. The statement that the seller is not allowed to bid is significant because it reinforces the nature of an absolute auction. By not allowing the seller to bid, it ensures a fair bidding process, as no manipulation or influence can occur from the seller's participation. This clarity helps maintain transparency and trust in the auction process, allowing participants to bid freely, knowing that all bids are taken seriously and that the auction is proceeding without hidden agendas.

The other options do not accurately reflect the defining features of an absolute auction. Claims about rescheduling or limiting the auction items do not pertain to the essence of it being "absolute," and while all bids being accepted is essentially part of an absolute auction's characteristics, it does not capture the critical point of seller participation.