A person authorized to sell goods or land at a public auction or sale. Initially the agent of the seller, he beames also the agent of the buyer after the een knocked down; he can therefore bind both parties where writing is nessary. Sale is normally only for cash where the custom is not otherwise; the auctioneer has a lien on goods for his charges provided he has the goods; he has no implied authority to warrant the goods sold. nor the owner’s right to sell; he must act in good faith. Advertisement of an auction does not nd the auctioneer as it is not an offer but an invitation.
Reference: The Penguin Business Dictionary, 3rd edt.
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