§ 5.08.230. Jewelry auctions—Additional requirements.

Any persons conducting a jewelry auction pursuant to Section 5.08.140B shall:

A.

Cause each item of jewelry to be sold at an auction for which a permit is sought to be appraised at fair market value by an appraiser chosen from a list of qualified jewelry appraisers maintained by the Chief of Police. The appraiser shall not be employed or related to the person conducting the auction or have any financial interest in the auction. The Chief of Police shall not place the name of any person on the list of qualified jewelry appraisers unless such person has been regularly engaged in the San Francisco-Oakland metropolitan area in the business of jewelry appraisal or employed as a jewelry appraiser.

B.

Prepare an inventory separate from and in addition to the inventory required by Section 5.08.090 of all of the articles of jewelry to be sold at public auction and submit the same to the Chief of Police not less than fifteen (15) days prior to the date of sale. Each article of jewelry shall be fully and separately described, together with the appraisal specified herein. The appraiser shall sign a statement, which shall be attached to the inventory, that he or she has personally examined and appraised each item listed in the inventory. No supplemental inventory shall be permitted.

C.

Hold all items listed on the inventory specified herein for a period of fifteen (15) days prior to the commencement of the date of sale. No item listed on the inventory shall be delivered to any person or otherwise disposed of during the fifteen (15) day period.

D.

Post a copy of the appraisal required by this section in a conspicuous location on the premises where auction is to be conducted so that it may be viewed by persons attending the auction. The appraisal shall remain posted throughout the conduct of the auction.

E.

Announce the appraisal value of each article of jewelry for which an appraisal is required and the appraisal number immediately prior to the auction of the article.

(Prior code § 5-9.26)