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Q：
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What does the term "consignor" refer to?
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A：
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The consignor refers to a citizen, legal person or other organization that entrusts an auctioneer to auction items or property rights.
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Q：
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How can the consignor handle the procedures for entrusting an auction?
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A：
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The consignor may handle the consignment auction procedures by themselves or have their agent handle them on their behalf.
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Q：
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What obligations does the consignor have regarding the items being auctioned?
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A：
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The consignor shall explain to the auctioneer the source and defects of the auction item.
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Q：
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Can the consignor determine the reserve price of the auction item?
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A：
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The consignor has the right to determine the reserve price of the auction item and request the auctioneer to keep it confidential.
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Q：
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How is the auction of state-owned assets evaluated?
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A：
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For the auction of state-owned assets, if assessment is required by law or in accordance with the provisions of The State Council, it shall be conducted by an assessment institution established in accordance with the law, and the reserve price of the auction item shall be determined based on the assessment result.
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FAQ
