NY UCC § 7-210 (2021)
2021 New York Laws UCC - Uniform Commercial Code Article 7 - Documents of Title Part 2 - Warehouse Receipts: Special Provisions 7-210 - Enforcement of Warehouse's Lien.

Section 7--210. Enforcement of Warehouse's Lien.  (a) Except as otherwise provided in subsection (b), a warehouse's lien may  be  enforced  by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms  that  are  commercially reasonable,  after  notifying  all persons known to claim an interest in the goods. The notification must include a statement of the amount  due, the  nature  of  the proposed sale, and the time and place of any public sale. The fact that a better price could have been obtained by a sale at a different time or in a method different  from  that  selected  by  the warehouse is not of itself sufficient to establish that the sale was not made  in  a  commercially  reasonable  manner.  The warehouse sells in a commercially reasonable manner if the warehouse sells the goods  in  the usual  manner  in  any  recognized  market therefore, sells at the price current in that market at the time of the sale, or  otherwise  sells  in conformity  with  commercially reasonable practices among dealers in the type of goods sold. A sale of more goods than apparently necessary to be offered to ensure satisfaction of the  obligation  is  not  commercially reasonable, except in cases covered by the preceding sentence.  (b) A warehouse may enforce its lien on goods, other than goods stored by  a  merchant  in  the  course  of its business, only if the following requirements are satisfied:  (1) All persons known to claim  an  interest  in  the  goods  must  be notified.  (2)  The notification must include an itemized statement of the claim, a description of the goods subject to the lien,  a  demand  for  payment within  a  specified  time  not  less than ten days after receipt of the notification, and a conspicuous statement that unless the claim is  paid within  that  time  the  goods  will  be advertised for sale and sold by auction at a specified time and place.  (3) The sale must conform to the terms of the notification.  (4) The sale must be held at the nearest suitable place to  where  the goods are held or stored.  (5)  After  the  expiration  of the time given in the notification, an advertisement of the sale must be published once a week  for  two  weeks consecutively in a newspaper of general circulation where the sale is to be  held. The advertisement must include a description of the goods, the name of the person on whose account the goods are being  held,  and  the time  and  place  of the sale. The sale must take place at least fifteen days after the first publication. If there is no  newspaper  of  general circulation  where  the  sale  is  to be held, the advertisement must be posted at least  ten  days  before  the  sale  in  not  fewer  than  six conspicuous places in the neighborhood of the proposed sale.  (c)  Before  any  sale pursuant to this section, any person claiming a right in the goods may pay the amount necessary to satisfy the lien  and the reasonable expenses incurred in complying with this section. In that event,  the  goods may not be sold but must be retained by the warehouse subject to the terms of the receipt and this article.  (d) A warehouse may buy at any  public  sale  held  pursuant  to  this section.  (e)  A  purchaser in good faith of goods sold to enforce a warehouse's lien takes the goods free of any rights of  persons  against  which  the lien was valid, despite the warehouse's noncompliance with this section.  (f)  A  warehouse  may  satisfy its lien from the proceeds of any sale pursuant to this section  but  shall  hold  the  balance,  if  any,  for delivery  on demand to any person to which the warehouse would have been bound to deliver the goods.  (g) The rights provided by this section are in addition to  all  other rights allowed by law to a creditor against a debtor.  (h)  If  a  lien is on goods stored by a merchant in the course of its business, the lien may be enforced in accordance with subsection (a)  or (b).  (i) A warehouse is liable for damages caused by failure to comply with the  requirements  for  sale  under this section and, in case of willful violation, is liable for conversion.