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Definition Of: |
buy-back
A horse put through a public auction that did not reach a minimum (reserve) price set by the consignor and so was retained. The consignor must pay a fee to the auction company based on a percentage of the reserve, to cover the auction company's marketing, advertising and other costs.
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Gambling Dictionary INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 4 5 A: Page 1 of 5.
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