Heber Hart

“ An auctioneer is bound under a penalty of £20 to see that his full name and address are displayed before the commencement of an auction and during its continuance in the place where he conducts it. He is the agent of the vendor only, except in so far that, after he has knocked down a lot to the highest bidder, he has authority to affix the name of the latter to a memorandum of the transaction, so as to render the contract of sale enforceable where written evidence is necessary. ”

“ Puffing is unlawful. Unless a right to bid is expressly reserved on behalf of the vendor, he must neither bid himself nor employ any one else to bid. When a right to bid has been expressly reserved, the seller or any one person (but no more) on his behalf may bid at the auction. If it is simply announced that the sale is to be subject to a reserved or upset price, no bidding by or on behalf of the seller is permissible: it is only lawful to declare by some appropriate terms that the property is withdrawn. ”

“ Sometimes property is offered on lease to the highest bidder. “Roup” is the Scottish term for an auction. A bid in itself is only an offer, and may accordingly be retracted at any time before its acceptance by the fall of the hammer or otherwise. ”

“ One of the chief risks run by an auctioneer is that of being held liable for the conversion of goods which he has sold upon the instructions of a person whom he believed to be the owner, but who in fact had no right to dispose of them. ”

“ By not doing so he would render the vendor liable in damages. The auctioneer must not make a pretence of receiving bids which are not in fact made, as it would be fraudulent to run up the price by such an artifice. ”