A voluntary auction sale is the free act of the owner. He may be unwilling to keep the property longer, or he may have urgent need of money, and may decide upon an auction sale as a means of disposing of the property and realizing cash. But he is not compelled to sell: he does it voluntarily. No lienor steps in to compel the sale of the property by legal action. Hence a voluntary auction differs in one very material respect from an involuntary sale; there is no sheriff, referee or other officer conducting the sale, though there may be and usually is an arrangement made for an auctioneer.

Fiduciaries, such as executors and trustees who are directed to sell for the best price obtainable, will usually sell at auction. By so doing, they are fully protected from criticism. They may also sell at auction when they believe a higher price will be obtained in that way. In many cases also an individual under no compulsion may sell at auction in the belief that such manner of disposing of his property will realize most for him.