Maine § 32 §299 Conditions of auction sales

Maine Statutes

§ 32 §299 — Conditions of auction sales

Maine·Title 32 PROFESSIONS AND OCCUPATIONS·Ch. 5-B AUCTIONEERS

Each auctioneer shall post for display and describe at the beginning of each auction the conditions of the auction sale. The conditions must indicate:

1.Sold "as is." Whether the property is sold "as is";

2.Highest bidder acknowledged. Whether the highest bidder at the completion of the sale will be acknowledged by the auctioneer;

3.Reserve. Whether the auction is with reserve or without reserve and the acceptable manner of bids;

4.Absentee bids. Whether absentee bids are allowed;

5.Sales tax. Sales tax requirements;

6.Auctioneer or consignor bidding. Whether or not the auctioneer or consignor reserves the right to bid;

7.Uniform Commercial Code. A statement that Title 11, section 2‑328 applies to this auction sale;

8.Statement of buyer's premium. A statement of the buyer's premium

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Each auctioneer shall post for display and describe at the beginning of each auction the conditions of the auction sale. The conditions must indicate:
1.
Sold "as is."
Whether the property is sold "as is";
2.
Highest bidder acknowledged.
Whether the highest bidder at the completion of the sale will be acknowledged by the auctioneer;
3.
Reserve.
Whether the auction is with reserve or without reserve and the acceptable manner of bids;
4.
Absentee bids.
Whether absentee bids are allowed;
5.
Sales tax.
Sales tax requirements;
6.
Auctioneer or consignor bidding.
Whether or not the auctioneer or consignor reserves the right to bid;
7.
Uniform Commercial Code.
A statement that Title 11, section 2‑328 applies to this auction sale;
8.
Statement of buyer's premium.
A statement of the buyer's premium and any other charges to the bidders or any other persons in attendance; and
9.
Title and address.
The title and address of the board.