§ 5.08.040. Sales by public auction.  


Latest version.
  • Without limiting the generality of the term "sale by public auction," such sale shall include a sale in which, instead of the bidders making increasingly higher bids for an article or articles of merchandise, the seller or auctioneer announces a price at which he or she will sell one or more articles of merchandise and then, if no sale occurs, increasingly adds additional articles of merchandise to those originally offered, with or without varying the previously announced price, until a buyer is finally induced to buy the accumulated articles at the price fixed.

    Without limiting the generality of the term "sale by public auction," such sale shall include a sale in which, instead of the bidders making increasingly higher bids for an article or articles of merchandise, the seller or auctioneer announces a price at which he or she will sell one or more articles of merchandise and then, if no sale occurs, decreases the price of that offered until a buyer is finally induced to buy the article or articles offered for sale.

(Prior code § 5-9.161)