North Carolina Administrative Code › Title 21 - OCCUPATIONAL LICENSING BOARDS AND COMMISSIONS › Chapter 04 - AUCTIONEERS › Subchapter B - AUCTIONEER LICENSING BOARD › Section .0600 - GENERAL AUCTIONEERING › Section 04B .0602 - ADVERTISING

Current through Register Vol. 39, No. 2, July 15, 2024
(a) In all
				  advertisements relating to an auction, the auctioneer's, apprentice
				  auctioneer's, or auction firm's name and license number shall be given. If an
				  auctioneer is working for or in conjunction with an auction firm, the
				  relationship shall be disclosed and both license numbers shall be given. A
				  general advertisement that does not concern a specific sale or specific sales
				  and that does not list sale dates, times, or locations, referred to as
				  "trolling" or "holding" advertisements, shall not be subject to any
				  identification requirement. A licensee may advertise under a name, assumed
				  name, trade name, or combination of names, only if written notice has been
				  filed with the Board.
(b) Any
				  licensee who advertises an "Estate Sale" shall disclose, in all advertisement
				  materials, whether it is the estate of a living or deceased person. Before
				  conducting an auction as an "estate sale," the majority of items in the sale
				  shall come from the estate of the living or deceased person(s). Other items not
				  related to or in an estate may be sold with an estate if disclosed at or before
				  the time of the auction.
(c) It
				  shall be a violation of this Rule to advertise a "Bankruptcy Sale" unless the
				  item(s) offered for sale, whether real or personal, are from an active
				  bankruptcy action. Before conducting an auction as a "bankruptcy sale," the
				  majority of the items in the sale shall come from the bankruptcy of one or more
				  parties. Other items not related to or from a bankruptcy action may be sold
				  with items from a bankruptcy action if disclosed at or before the time of the
				  auction.
(d) It shall be a
				  violation of this Rule to advertise an item, either real or personal, as
				  "Absolute" or "Without Reserve" if the item is subject to confirmation, minimum
				  bid, or any other condition of sale. Before advertising an auction as absolute
				  or without reserve, the majority of items in the sale shall be offered for sale
				  absolute or without reserve. Items that are not absolute may be included in the
				  auction provided they are designated as such in all announcements and
				  advertisements.
(e) It shall be a
				  violation of this Rule to advertise any auction using such descriptive words as
				  "Urgent," "Emergency," "Distress" or any other word that connotes liquidation
				  of assets or that the buyers will be in a position to reap some unusual bargain
				  without disclosing, in the written advertisement in a print size equal to the
				  descriptive word, the reason that the sale is "urgent," the nature of the
				  "emergency," or the cause of the "distress."
(f) It shall be a violation of this Rule to
				  advertise any auction using such descriptive words as "Seized," "Confiscated,"
				  "Forfeited," or any other word that connotes a governmental action whereby
				  items are seized or taken by a government department, agency, or commission and
				  released or sold or that the buyers will, for some governmental reason, be in a
				  position to reap some unusual bargain without disclosing, in the written
				  advertisement in a print size equal to the descriptive word, the exact nature
				  of the government action.
(g) It
				  shall be a violation of this Rule to advertise any items as being from an
				  "estate" or a "bankruptcy," or from an "urgent," "emergency," "distress,"
				  "seized," "confiscated," "forfeited," or similar sale, unless the consignor of
				  the item(s) to be sold is the original owner of the item(s), the designated
				  representative of the owner, or a federal, state, or local department, agency,
				  or commission charged with disposing of the item(s), and consigned the item(s)
				  directly to the advertised sale.
(h) It shall be a violation of this Rule to:
(1) Reference the U.C.C. or any other uniform
				  act or federal or state law in any advertisement unless the act or law is
				  required, by law, to be referenced;
(2) Reference or mention any federal, state,
				  or local department, agency, or commission in any advertisement unless required
				  by law to do so or unless prior written approval is received from such
				  department, agency, or commission; or
(3) Otherwise connote in any advertisement
				  that the auction is under the auspices of, at the direction of, or required by
				  federal or state law or act or a federal, state, or local department, agency,
				  or commission and that the buyers will, for some legal or governmental reason,
				  be in a position to reap some unusual bargain.