New Hampshire Code of Administrative Rules
Auc - State Board of Auctioneers
Chapter Auc 500 - ETHICAL STANDARDS
Part Auc 502 - CONDUCT OF AUCTION; RECORDS
Section Auc 502.01 - Conduct of Auction; Records
Current through Register No. 12, March 21, 2024
(a) No licensee shall accept an item for sale at an auction without first having a written agreement with the owner or authorized agent of any property to be sold. The agreement shall contain the terms and conditions upon which the auctioneer received the goods for sale, including but not limited to the auctioneer's commissionrate, the auction date, an itemized list of items accepted, and any minimum bids applicable to the auction. The licensee shall provide the owner with a signed copy of the agreement and shall keep at least one copy for his own records for 2 years from the date of the agreement. Copies of all contracts shall be made available to the board or its designated agent during business hours.
(b) Each licensee shall maintain consignment records and enter in them, upon receipt of goods for auction and before sale, the name and addresses of the person who employed the licensee to sell the goods at auction and the name and address of the owner of the goods to be sold. The consignment record shall contain an adequate description of the goods to be sold and shall be sufficient to reasonably identify the items. Consignment records shall be available for inspection by the board or its designated agent upon request.
(c) Each licensee shall maintain sales records which identify the purchaser of all goods sold by name, address, and when possible, telephone number. The sales records shall contain an adequate description of the items sold and shall be sufficient to positively identify the owner of the property. Sales records shall be maintained for a period of not less than 2 years from the date of sale. Sales records shall be available for inspection by the board or its designated agent upon request.
