Legal analysis
With the consent of the application executor, the people's court may deliver the property at a fixed price to the application executor to pay off the debt or deliver it to the application executor for management without harming the legitimate rights and interests of other creditors and social public interests; If the application executor refuses to accept or manage it, it shall return it to the person subjected to execution. When there is no bidder in the auction or the highest bid price of the bidder is lower than the reserve price, if the application executor or other enforcement creditors present apply for or agree to accept the auction property at the reserve price set at the auction, they shall pay off the property. If more than two executing creditors apply for auction of property to pay off debts, the creditor with the first legal repayment order will be given priority; If the repayment order is the same, the beneficiary shall be determined by drawing lots. If the amount of creditor's rights payable by the debtor is lower than the price of the collateral, the people's court shall order it to make up the difference within a time limit.
legal ground
Provisions of the Supreme People's Court on Auction and Sale of Civil Execution Property by People's Courts Article 5 The reserve price shall be determined in the auction. If the auction property is evaluated, the evaluation price is the reserve price of the first auction; If it is not evaluated, the reserve price shall be determined by the people's court with reference to the market price, and the opinions of the parties concerned shall be solicited. If there is an auction target, the reserve price may be reduced as appropriate when the auction is held again, but the amount reduced each time shall not exceed 20% of the previous reserve price.