Nature of sale
832 Nature of sale
Unless the court orders otherwise, an enforcement officer must put up for sale by public auction all property liable to be sold under an enforcement warrant—
as early as possible, having regard to the interests of the parties; and
at a place and in a way appearing to the enforcement officer to be suitable for a beneficial sale of the property.
The public auction may be conducted by the enforcement officer or a person authorised by the enforcement officer.
Property sold by public auction must be sold under the following conditions of sale—
for goods, if the person conducting the auction considers the particular lot in which the goods are to be auctioned is worth less than $500, or for other property if the enforcement debtor agrees—at the best price obtainable;
otherwise, if the reserve is reached—to the highest bidder;
if the person conducting the auction considers there is a dispute as to who is the highest bidder, the property is to be reauctioned and knocked down to the highest bidder.
However, before a sale by public auction, a party or an enforcement officer may apply to the court for an order that the property be sold privately.
The application must be supported by affidavit.
If the applicant is a party, the applicant must also serve the enforcement officer with the application.
If, on application by the enforcement creditor, the court makes an order that the property be sold privately before a public auction, the court may order that the enforcement creditor pay any costs already incurred by the enforcement officer for the auction.
If property put up for sale at public auction is not sold by auction, the enforcement officer may sell the property privately—
for an amount not less than the highest bid made at the auction that the enforcement officer considers is a reasonable amount for the property; or
if no bid was made at the auction—for an amount the enforcement officer considers is a reasonable amount for the property; or
in accordance with a court order.
Note—
See rule 833 (Sale at best price obtainable), particularly subrule (4).
In this rule—
reserve, for property to be sold at auction, means the reserve amount set by the enforcement officer, being an amount the enforcement officer considers is not less than a reasonable amount for the property.
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