Florida Administrative Code
61 - DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
61G2 - Board of Auctioneers
Chapter 61G2-5 - STANDARDS OF PRACTICE
Section 61G2-5.001 - Requirements for Conducting an Auction

Universal Citation: FL Admin Code R 61G2-5.001

Current through Reg. 50, No. 187; September 24, 2024

(1) Any auction which is subject to the provisions of chapter 468, part VI, F.S., must be conducted by an auctioneer who has an active Florida auctioneer license or an apprentice who has an active Florida apprentice auctioneer license and who has received prior written sponsor consent. Such auction must also be conducted under the auspices of a licensed auction business which has an active Florida auction business license. Any auctioneer or apprentice auctioneer conducting an auction subject to the provisions of chapter 468, part VI, F.S., and any auction business under whose auspices such action is held shall be responsible for determining that any auctioneer, auctioneer apprentice, or auction business with whom they are associated in conducting such auction have an active Florida auctioneer, auctioneer apprentice or auction business license as required by law.

(2) The principal auctioneer shall be responsible for conducting the auction in a professional and ethical manner.

(a) The principal auctioneer who calls and accepts bids at the auction shall be a Florida licensed auctioneer or Florida licensed apprentice.

(b) Prominently display at the auction site the licenses of the principal auctioneer, the auction business and any other licensed auctioneers or apprentices who are actively participating in the auction. If such a display is not practicable, then an oral announcement at the beginning of the auction or a prominent written announcement that these licenses are available for inspection at the auction site must be made.

(c) If a buyer premium or any surcharge is a condition to sale at any auction, the amount of the premium or surcharge must be announced at the beginning of the auction and a written notice of this information shall be conspicuously displayed or distributed to the public at the auction site.

(d) Announce at the beginning of the auction the terms of bidding and sale whether the sale is with reserve, without reserve or absolute, or minimum bid required. If the sale is absolute and has been announced or advertised as such, an article or lot may not be withdrawn from sale once a bid has been accepted. If no bid is received within a reasonable time, the item or lot may be withdrawn.

(e) If an auction has been advertised as absolute, no bid shall be accepted from the owner of the property or from someone acting on behalf of the owner unless the right to bid is specifically permitted by law.

(3) The auction business under which the auction is conducted is responsible for all other aspects of the auction to include contract negotiations, advertising, auction organization and layout, merchandise distribution and final settlement with the seller. The auction business may delegate in whole, or in part, different aspects of the auction only to the extent that such delegation is permitted by law and that such delegation will not impede the principal auctioneer's ability to assure the proper conduct of his independent responsibility for the auction. The auction business under whose auspices the auction is conducted is responsible for assuring compliance with the following requirements:

(a) Comply with section 468.388, F.S., regarding written agreements for auctions;

(b) Maintain a record book as required by rule 61G2-5.002, F.A.C.;

(c) Comply with section 468.388(10), F.S., regarding clients' funds and auction proceeds.

(d) Designate a principal auctioneer for each auction conducted.

Rulemaking Authority 468.384(2) FS. Law Implemented 468.388, 468.389 FS.

New 10-19-87, Amended 7-4-88, 12-11-88, 12-3-90, 1-28-92, Formerly 21BB-5.001, Amended 10-12-93, 6-19-12, 2-20-19.

Disclaimer: These regulations may not be the most recent version. Florida may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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