New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 2 - CONSUMER PROTECTION
Part 7 - COMPARATIVE PRICE ADVERTISEMENTS AND SAVINGS CLAIMS FOR THE NATIVE AMERICAN JEWELRY AND ARTS AND CRAFTS RETAIL INDUSTRY
Section 12.2.7.11 - USE OF LIST PRICE OR SIMILAR COMPARISONS
Current through Register Vol. 35, No. 6, March 26, 2024
It is an unfair and deceptive practice for a seller to advertise using a price comparison or to claim a savings, expressed or implied, from a list price or term of similar meaning, including the manufacturer's suggested retail price, unless one of the following requirements is met:
A. the list price does not exceed the highest price at which a substantial number of sales of the same or substantially comparable goods have been made in the seller's trade area; or
B. the list price is the price at which the seller offered the good for at least 90 consecutive days in the regular course of its business, openly, actively and in good faith, with an intent to sell the good at that price; the 90-day period must precede immediately the start of any advertised price comparison; or
C. the list price does not exceed the highest price at which the good is offered by a reasonable number of merchants in the seller's trade area for 90 consecutive days in the regular course of business; the 90 day period must precede immediately the start of any advertised price comparison; or
D. the list price does not exceed the seller's cost plus the percentage mark-up regularly used by the seller in the actual sale of such good or service of an identical class or kind, in the seller's recent, regular course of business.
