24
In forceBids by seller
24 Bids by seller
(1)
This section applies in relation to a seller of property offered for sale by auction.
(2)
If the seller or seller’s agent bids for the property when it is offered for sale, the auctioneer must disclose to the other bidders that the bid is made by the seller or seller’s agent.
(3)
If the seller sets a reserve price for the property, the auctioneer must not accept a bid from the seller or seller’s agent that is higher than the reserve price.
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