|
Q：
|
Can the auctioneer request an appraisal of the auction item?
|
|
A：
|
If the auctioneer believes that it is necessary to appraise the auction subject, appraisal can be conducted.
|
|
Q：
|
Can the auctioneer request termination of the contract?
|
|
A：
|
If the appraisal conclusion does not match the condition of the auction item stated in the entrusted auction contract, the auctioneer has the right to request a change or termination of the contract.
|
|
Q：
|
What matters are included in a consignment auction contract?
|
|
A：
|
The entrusted auction contract shall specify the following matters:
-
The name or title and address of the consignor or auctioneer;
-
The name, specification, quantity and quality of the auction items;
-
The reserve price proposed by the client;
-
The time and place of the auction;
-
The time and method of delivery or transfer of the auction item;
-
The commission and the method and period of its payment;
-
The method and period of payment for the price;
-
The liability for breach of contract;
-
Other matters agreed upon by both parties.
|
|
Q：
|
Is it necessary to issue an announcement before an auction?
|
|
A：
|
The auctioneer shall issue an auction announcement seven days before the auction date.
|
|
Q：
|
What matters are included in an auction announcement?
|
|
A：
|
The auction announcement shall set forth the following matters:
-
The time and place of the auction;
-
Auction item;
-
The time and place for the display of auction items;
-
Procedures to be completed for participating in the bidding;
-
Other matters to be announced.
|
FAQ
