Maine Revised Statutes

§299. Conditions of auction sales

Each auctioneer shall post for display and describe at the beginning of each auction the conditions of the auction sale. The conditions must indicate: [1999, c. 146, §5 (NEW).]

1. Sold "as is."  Whether the property is sold "as is";
[ 1999, c. 146, §5 (NEW) .]
2. Highest bidder acknowledged.  Whether the highest bidder at the completion of the sale will be acknowledged by the auctioneer;
[ 1999, c. 146, §5 (NEW) .]
3. Reserve.  Whether the auction is with reserve or without reserve and the acceptable manner of bids;
[ 1999, c. 146, §5 (NEW) .]
4. Absentee bids.  Whether absentee bids are allowed;
[ 1999, c. 146, §5 (NEW) .]
5. Sales tax.  Sales tax requirements;
[ 1999, c. 146, §5 (NEW) .]
6. Auctioneer or consignor bidding.  Whether or not the auctioneer or consignor reserves the right to bid;
[ 1999, c. 146, §5 (NEW) .]
7. Uniform Commercial Code.  A statement that Title 11, section 2-328 applies to this auction sale;
[ 1999, c. 146, §5 (NEW) .]
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
[ 1999, c. 146, §5 (NEW) .]
9. Title and address.  The title and address of the board.
[ 1999, c. 146, §5 (NEW) .]
SECTION HISTORY
1999, c. 146, §5 (NEW).