About NETXLNT/PICKER NEWS - Affiliate Organizations
The auction industry is exceptionally diverse, and professional
Auctioneers provide clients with professional auction services
to many clients and industries. The PICKER NEWS/ NETXLNT works
with numerous organizations that partner with professional
Auctioneers and work together to promote the use of auctions and
PICKER NEWS/ NETXLNT Auctioneers.
AUCTION ORGANIZATIONS AND INSTITUTIONS
·
National Auctioneers Association Auxiliary
·
National Auctioneers Foundation
AFFILIATE ORGANIZATIONS
·
American Bankruptcy Institute
·
American Society of Appraisers
·
Livestock Marketing Association
·
National Association of Bankruptcy Trustees
·
National Association of Realtors
·
National Auto Auctioneers Association
·
The Appraisal Foundation
STATE AUCTIONEER ASSOCIATIONS
·
Alabama Auctioneers Association
debbie.mullins22@yahoo.com
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Arizona State Auctioneers Association
info@azauctioneers.org
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Arkansas Auctioneers Association
director@arkansasauctioneers.org
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Auctioneers Association of Maryland
aami9801@aol.com
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Auctioneers Association of North Carolina
elaine@execman.net
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California State Auctioneers Association
info@caauctioneers.org
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Colorado Auctioneers Association
coaa@att.net
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Florida Auctioneers Association
association@floridaauctioneers.org
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Georgia Auctioneers Association
info@georgiaauctioneers.org
·
Idaho Association of Professional Auctioneers
katherine@primetimeauctions.com
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Illinois State Auctioneers Association
ISAAmaxine@aol.com
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Indiana Auctioneers Association
director@indiaPicker News/ NETXLNTuctioneers.org
·
Iowa Auctioneers Association
joano@agribiz.org
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Kansas Auctioneers Association
kaaauct@cox.net
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Kentucky Auctioneers Association
kaamember@insightbb.com
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Louisiana Auctioneers Association
info@louisiaPicker News/ NETXLNTuctioneers.org
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Maine Auctioneers Association
MaineAuctioneers@gmail.com
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Massachusetts Auctioneers Association
seanpaine@gmail.com
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Michigan State Auctioneers Association
info@msaa.org
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Minnesota State Auctioneers Association
frank@solditatauction.com
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Mississippi Auctioneers Association
maa-info@hotmail.com
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Missouri Professional Auctioneers Association
mpaadirector@gmail.com
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Montana Auctioneers Association
dan@maurergroup.com
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Nebraska Auctioneers Association
info@nebraskaauctioneers.com
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New Hampshire Auctioneers Association
russ@atlanticauctioncompany.com
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New Jersey State Society of Auctioneers
njssa1949@gmail.com
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New York State Auctioneers Association
gokeysauctions@aol.com
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North Dakota Auctioneers Association
scott@ndauctioneers.com
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Ohio Auctioneers Association
OAA@AssnOffices.com
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Oklahoma State Auctioneers Association
info@okauctioneers.org
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Pennsylvania Auctioneers Association
info@paauctioneers.org
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South Carolina Auctioneers Association
SCAA@southcaroliPicker News/ NETXLNTuctioneers.org
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South Dakota Auctioneers Association
luck@venturecomm.net
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Tennessee Auctioneers Association
elaine@execman.net
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Texas Auctioneers Association
taa.execdir@gmail.com
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Utah Auctioneers Association
snoron@msn.com
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Virginia Auctioneers Association
vaauctioneers@vaa.org
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Washington Auctioneers Association
taryn@maurergroup.com
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West Virginia Auctioneers Association
wvauctioneersassoc@gmail.com
·
Wisconsin Auctioneers Association
wiauctioneers@centurylink.net
·
Wyoming Auctioneers Association
bigironguy@gmail.com
A
Absentee Bid
A procedure that allows a bidder to participate in the bidding
process without being physically present. Generally, a bidder
submits an offer on an item prior to the auction. Absentee bids
are usually handled under an established set of guidelines by
the auctioneer or auction company. The particular rules and
procedures of absentee bids are unique to each auction company.
Absentee Bidder
A person (or entity) that is not present at the auction but
submits, in advance, a written or oral bid that is the top price
they will pay for a given asset.
Absolute Auction
An auction where the property is sold to the highest qualified
bidder with no limiting conditions or amount. The seller may not
bid personally or through an agent. Also known as an “auction
without reserve.”
Accounting of Sale
A report issued to the seller by the auctioneer or auction
company detailing the financial aspects of the auction.
Accredited Auctioneer Real Estate (AARE)
The professional designation awarded by the NAA Education
Institute to qualified real estate auctioneers who meet the
educational and experiential requirements of the Institute and
who adhere to a strict code of ethics and standards of practice.
In order to be designated with the AARE, auctioneer-scholars are
required to complete 42 classroom hours, a detailed written
auction summary report, proof of at least 10 real estate
auctions, and 24 hours of continuing education every three
years.
Agent
A person who acts on behalf of another individual or entity.
America Bankruptcy Institute (ABI)
The American Bankruptcy Institute is the largest
multi-disciplinary, non-partisan organization dedicated to
research and education on matters related to insolvency.
ABI
was founded in 1982 to provide Congress and the public with
unbiased analysis of bankruptcy issues.
America Society of Appraisers (ASA)
The American Society of Appraisers is an international
organization of appraisal professionals and others interested in
the appraisal profession. ASA is the oldest and only major
appraisal organization representing all of the disciplines of
appraisal specialists.
Appraisal
The act or process of estimating value.
Appraisal Foundation, The
A not-for-profit organization dedicated to the advancement of
professional valuation, established by the appraisal profession
in the U.S. in 1987. Since its inception, the Foundation has
worked to foster professionalism in appraising. It is authorized
by Congress as the source of appraisal standards and appraiser
qualifications.
Apprentice Auctioneer
An auctioneer who is in training, operating under the
supervision of a licensed or experienced auctioneer.
As Is
Selling the property without warranties as to the condition
and/or the fitness of the property for a particular use. Buyers
are solely responsible for examining and judging the property
for their own protection. Otherwise known as "As Is, Where Is"
and "In its Present Condition."
Auction
A method of selling property in a public forum through open and
competitive bidding. Also known as “public auction” or “auction
sale.”
Auction Block
The podium or raised platform where the auctioneer stands while
conducting the auction. "Placing (an item) on the auction block"
means to sell something at auction.
Auction Listing Agreement
A contract executed by the auctioneer and the seller which
authorizes the auctioneer to conduct the auction and sets out
the terms of the agreement and the rights and responsibilities
of each party.
Auction Marketer
An individual who contracts with sellers for the auction method
of marketing property. In the case of real property, the
individual may not actually conduct the sale but is directly
responsible for all aspects of marketing the property.
Auction Marketing
The method of marketing assets utilizing the auction method of
sale.
Auction Plan
The plan for pre-auction, auction-day and post-auction
activities.
Auction Price
The price of a property obtained through the auction method of
marketing.
Auction Subject to Confirmation
(See "Reserve Auction")
Auction Technology Specialist (ATS)
A professional designation awarded by the NAA Education
Institute to help professional auctioneers understand today's
technology and how to use it to improve their business. ATS
auctioneers gain experience in conducting live and online static
auctions. In order to be designated with the ATS,
auctioneer-scholars are required to complete 21 classroom hours,
proof of at least three online auctions and 24 hours of
continuing education every three years.
Auction Value
The price that a particular property brings via competitive
bidding at public auction.
Auction With Reserve
An auction in which the seller or his agent reserves the right
to accept or decline any and all bids. A minimum acceptable
price may or may not be disclosed and the seller reserves the
right to accept or decline any bid within a specified time.
Auction Without Reserve
(See "Absolute Auction")
Auctioneer
The person whom the seller engages to direct, conduct, or be
responsible for a sale by auction. This person may or may not
actually call or “cry” the auction.
Auctioneer Subcontractor
An auctioneer hired by the principal auctioneer. Also known as a
“Contract Auctioneer.”
B
Ballroom Auction
An auction of one or more properties conducted in a meeting room
facility.
Bank Letter of Credit
A letter from a bank certifying that a named person is worthy of
a given level of credit. Often requested from prospective
bidders or buyers who are not paying with currency at auctions.
Benefit Auction Specialist (BAS)
A professional designation awarded by the NAA Education
Institute designed to teach professional auctioneers the
planning techniques that create successful benefit auctions. BAS
auctioneers learn marketing skills and create a business
strategy to build their clientele and profits. In order to be
designated with the BAS, auctioneer-scholars are required to
complete 21 classroom hours, a detailed written auction summary
report, proof of at least six benefit auctions and 24 hours of
continuing education every three years.
Bid
A prospective buyer's indication or offer of a price they are
willing to pay to purchase property at auction. Bids are usually
in standardized increments established by the auctioneer.
Bid Acknowledgment
A form executed by the high bidder confirming and acknowledging
the bidder's identity, the bid price and the description of the
property. Also known as "Memorandum."
Bid Assistants
Individuals of a live auction team whose primary responsibility
is to accurately interpret and effectively communicate buyer
participation to their auctioneer. They should also be qualified
to assist prospective bidders with the necessary information to
make a better informed buying decision. Also known as “ringmen”,
“bid spotters” or “groundsmen.”
Bid Caller
The person who actually "calls," "cries” or "auctions" the
property at an auction, recognizing bidders and acknowledging
the highest bidder. Commonly known as the auctioneer.
Bid Rigging
The unlawful practice whereby two or more people agree not to
bid against one another so as to deflate value. See “Collusion”.
Bidder Number
The number issued to each person who registers at an auction.
Bidder Package
The package of information and instructions pertaining to the
property to be sold at an auction event obtained by prospective
bidders at an auction. Also referred to as “bidder packet” or
“due diligence packet.”
Bidder's Choice
A method of sale whereby the successful high bidder wins the
right to choose an asset or assets from a grouping of similar or
like-kind assets. After the high bidder's selection, the asset
is deleted from the group, and the second round of bidding
commences, with the high bidder in round two choosing an asset,
which is then deleted from the group and so on, until all assets
are sold. Also known as “Buyer’s Choice.”
Bookkeeper or Clerk
The individual responsible for the accounting and paperwork at
an auction sale.
Broker Participation
An arrangement for third-party brokers to register potential
bidders for properties being sold at auction for a commission
paid by the owner of the property or the auction firm.
Buyer's Broker
A real estate broker who represents the buyer and, as the agent
of the buyer, is normally paid for his/her services by the
buyer.
Buyer's Premium
An advertised percentage of the high bid or flat fee added to
the high bid to determine the total contract price to be paid by
the buyer.
C
Caravan Auctions
A series of on-site auctions advertised through a common
promotional campaign.
Carrying Charges
The costs involved in holding a property that is intended to
produce income (either by sale or rent) but has not yet done so,
i.e., insurance, taxes, maintenance, management. Also known as
“holding costs”.
Catalog or Brochure
A publication advertising and describing the property(ies)
available for sale at public auction, often including
photographs, property descriptions and the terms and conditions
of the sale.
Caveat Emptor
A Latin term meaning "let the buyer beware." A legal maxim
stating that the buyer takes the risk regarding quality or
condition of the property purchased, unless protected by
warranty.
Certified Auctioneers Institute (CAI)
The professional designation awarded to practicing auctioneers
who meet the experiential, educational and ethical standards set
by the NAA Education Institute. In order to be granted the CAI
designation, auctioneer scholars must have been practicing
full-time auctioneers for at least two year (prior to attending
the institute), attend all three years of CAI with more than 120
classroom hours, complete all special projects and complete 24
hours of continuing education every three years.
Certified Estate Specialist (CES)
A professional designation awarded by the NAA Education
Institute to help professional auctioneers understand how to
properly conduct and deal with the settling of estates. The
course also educates professional auctioneers on working with
family members and dealing with lawyers and accountants. In
order to be designated with the CES, auctioneer-scholars are
required to complete 21 classroom hours and complete 24 hours of
continuing education every three years.
Clerk
An individual employed by the principal auctioneer or auction
firm to record what is sold and to whom and for what price.
Collusion
The unlawful practice whereby two or more people agree not to
bid against one another so as to deflate value or when the
auctioneer accepts a fictitious bid on behalf of the seller so
as to manipulate or inflate the price of the property.
Commission
The fee charged to the seller by the auctioneer for providing
services, usually a percentage of the gross selling price of the
property established by contract (the listing agreement) prior
to the auction.
Conditions of Sale
The legal terms that govern the conduct of an auction, including
acceptable methods of payment, terms, buyer's premiums,
possession, reserves and any other limiting factors of an
auction. Usually included in published advertisements or
announced by the auctioneer prior to the start of the auction.
Also known as “Terms & Conditions”.
Conference and Show (C&S)
Annual conference and exposition of the National Auctioneers
Association. Also known as “International Auctioneers Conference
& Show”.
Continuing Education Units (CE's or CEU)
A measure used in continuing education programs, particularly
those required in a licensed profession in order for the
professional to maintain the license.
Contract
An agreement between two or more persons or entities which
creates or modifies a legal relationship.
Cooperating Broker
A real estate broker who registers a prospective buyer with the
auction company, in accordance with the terms and conditions for
that auction. The broker is paid a commission only if his
prospect is the high bidder and successfully closes on the
property. Also known as a “participating broker”.
Critical Path
Sequence of key tasks to be done by auction contractor or other
designated parties on specified dates, leading to desired goals.
D
Dual Agency
The representation of opposing principals (buyers and seller) at
the same time.
Due Diligence
The process of gathering information about the condition and
legal status of assets to be sold.
E
Education Institute (EI)
NAA members are selected by the NAA Board of Directors to be
Trustees of the Education Institute and carry out the
association’s mission of continuing education to NAA members.
Estate Sale
The sale of property left by a person at his or her death. An
estate auction can involve the sale of personal and/or real
property.
F
Federal Deposit Insurance Corporation (FDIC)
The Federal Deposit Insurance Corporation (FDIC) is an
independent agency created by the Congress to maintain stability
and public confidence in the nation's financial system by
insuring deposits, examining and supervising financial
institutions for safety and soundness and consumer protection,
and managing receiverships.
Federal Home Loan Banks (FHLB)
The FHA provides mortgage insurance on loans made by
FHA-approved lenders throughout the U.S. and its territories.
FHA insures mortgages on single family and multifamily homes
including manufactured homes and hospitals. It is the largest
insurer of mortgages in the world.
Federal Housing Administration (FHA)
The FHA provides mortgage insurance on loans made by
FHA-approved lenders throughout the U.S. and its territories.
FHA insures mortgages on single family and multifamily homes
including manufactured homes and hospitals. It is the largest
insurer of mortgages in the world.
G
Graduate Personal Property Appraiser (GPPA)
The professional designation awarded by the NAA Education
Institute to qualified property appraisers who meet the
educational and experiential requirements of the Institute and
who adhere to a strict code of ethics and standards of practice.
In order to be designated with the GPPA, auctioneer-scholars are
required to complete 35 classroom hours, a detailed written
appraisal report and proof of at least two affidavits of
appraisals. This designation also requires 24 hours of
continuing education every three years.
H
Hammer Price
Price established by the highest bidder and acknowledged by the
auctioneer before dropping the hammer or gavel.
I
Intellectual Property (IP)
IP is a term referring to a number of distinct types of legal
monopolies over creations of the mind, both artistic and
commercial, and the corresponding fields of law. Under IP law,
owners are granted certain exclusive rights to a variety of
intangible assets, such as musical, literary, and artistic
works; discoveries and inventions; words, phrases, symbols and
designs.
International Auctioneer Champion (IAC)
Annual contest hosted by the National Auctioneers Association at
its Conference & Show for bid-calling auctioneers. Each year,
one female and one male auctioneer is declared the winner of the
IAC.
International Society of Appraisers (ISA)
The ISA is a not-for-profit, member-driven association formed to
support ISA member needs and serve the public by producing
highly qualified and ethical appraisers who are recognized
authorities in professional personal property appraising.
L
Listing Agreement
See “Auction Listing Agreement”.
Listing Broker
A real estate broker who has a listing on a property and
cooperates with the auction company by allowing the auction
agreement to supersede their listing agreement.
Livestock Marketing Association (LMA)
The LMA is an association committed to the support and
protection of the local livestock auction markets and the
livestock marketing industry.
M
Market Value
The highest price that a property will bring in a competitive
and open market under all conditions requisite to a fair sale,
the buyer and seller, each acting prudently, knowledgeably and
assuming the price is not affected by undue stimulus.
Master Personal Property Appraiser (MPPA)
A professional designation awarded by the NAA Education
Institute to help professional auctioneers learn the
responsibilities of appraising assets. Designees are taught to
conduct a complete and appropriate appraisal, as well as taught
to know the various factors that affect the value of appraised
items. MPPA designees specialize in one or more of the following
areas: antiques & estates, plant machinery & equipment,
construction & agricultural equipment or small business
valuation. In order to be granted an MPPA designation, the
auctioneer must already be credentialed with the GPPA.
Memorandum
Also referred to as a "Bidder Acknowledgment," or "Broker
Acknowledgment," the memorandum is signed by those parties
either on the auction floor or in the contract room.
Memorandum
Also referred to as a "Bidder Acknowledgment," or "Broker
Acknowledgment," the memorandum is signed by those parties
either on the auction floor or in the contract room.
Minimum Bid Auction
An auction in which the auctioneer will accept bids at or above
a disclosed price. The minimum price is always stated in the
brochure and advertisements and is announced at the auctions.
Multi-Property Auction
A group of properties offered through a common promotional
campaign. The properties to be auctioned may be owned by one
seller or multiple sellers.
Multi-Seller Auction
Properties owned by multiple sellers, offered through a common
promotional campaign and auctioned in a single event.
Multiple Listing Services (MLS)
The MLS is a suite of services that enables brokers to establish
contractual offers of compensation (among brokers); facilitates
cooperation with other broker participants; accumulates and
disseminates information to enable appraisals; and is a facility
for the orderly correlation and dissemination of property
listing information to better serve broker's clients, customers
and the public.
N
National Association of Realtors (NAR)
The core purpose of the NAR is to help its members become more
profitable and successful.
National Auctioneers Association (NAA)
An association of individual auctioneers united to promote the
mutual interests of its members; formulate and maintain ethical
standards for the auction profession; promote the enactment of
just and reasonable laws, ordinances and regulations affecting
auction selling; make the public more aware of the advantages of
auction selling; and generally improve the business conditions
affecting the auction profession.
National Auto Auctioneers Association (NAAA)
Founded in 1948, the National Auto Auction Association
represents more than 317 auto auction companies, both domestic
and international, with more than 8.9 million units sold each
year.
No-Sale Fee
A charge paid by the owner of property offered at a reserve
auction when the property does not sell.
No-Sale Fee
A charge paid by the owner of property offered at a reserve
auction when the property does not sell.
O
On-Site Auction
An auction conducted on the premises of the property being sold.
Opening Bid
The first bid offered by a bidder at an auction.
Other Real Estate Owned (OREO)
Real property owned by a banking institution that is not
directly related to its business. In balance sheet terms, OREO
assets are considered non-earning assets for purposes of
regulatory accounting. OREO is most frequently a result of
foreclosure on real property as a result of default by the
borrower who used the property as collateral for the loan. Most
items in this category are available for sale.
P
Participating Broker
See “Cooperating Broker”.
Preview
Specified date and time property is available for prospective
buyer viewing and audits. Also known as “Open House” or
“Inspection”.
R
Real Estate (RE)
Real estate, also known as
real
property, is a legal term that encompasses land along
with improvements to the land, such as buildings, fences, wells
and other site improvements that are fixed in location --
immovable.
Real Estate Owned (REO)
REO is a class of property owned by a lender, typically a bank,
after an unsuccessful sale at a foreclosure auction. A bank will
typically set the opening bid at a foreclosure auction for at
least the outstanding loan amount. If there are no bidders that
are interested, then the bank will legally repossess the
property. As soon as the bank repossesses the property, it is
listed on their books as REO and is categorized as an asset
(non-performing).
Referring Broker
A real estate broker who does not have a listing on a property
but refers the auction company to a potential seller for an
auction. Usually earns a flat fee commission for referring
product to an auction company.
Regroup
A process used in real estate auctions where a bidder has the
opportunity to combine several parcels of land previously
selected by other bidders, thereby creating one larger parcel
out of several smaller parcels. This process is often used in
conjunction with bidder's choice.
Reserve
The minimum price that a seller is willing to accept for a
property to be sold at auction. Also known as “reserve price”.
S
Sale Manager
The person designated by the auction company who is responsible
for organizing the details of an auction. Also known as “project
manager”.
Sealed Bid
A method of sale where by confidential bids are submitted to be
opened at a predetermined place and time. Not a true auction in
that it does not allow for reaction from the competitive
marketplace.
Seller
Entity that has legal possession (ownership) of any interests,
benefits or rights inherent to the real or personal property.
Subject to Confirmation
See "Reserve Auction"
T
Tax Sale
Public sale of property at auction by governmental authority due
to nonpayment of property taxes.
Terms and Conditions
The printed rules of the auction and certain aspects of the
Purchase & Sale Agreement that are read and/or distributed to
potential bidders prior to an auction sale.
Tie Bids
When two or more bidders bid exactly the same amount at the same
time. This must be resolved by the auctioneer.
Trustee's Sale
A sale at auction by a trustee.
U
Uniform Commerical Code (UCC)
The UCC, first published in 1952, is one of a number of uniform
acts that have been promulgated in conjunction with efforts to
harmonize the law of sales and other commercial transactions in
all U.S. states.
Uniform Standards of Professional Appraisal Practice (USPAP)
USPAP can be considered the quality control standards applicable
for real property, personal property, intangibles and business
valuation appraisal analysis and reports in the U.S. and its
territories. USPAP was first developed in the 1980s by a joint
committee representing the major U.S. and Canadian appraisal
organizations.
US Bureau of Alcohol, Tobacco, and Firearms (ATF)
A unique law enforcement agency of the U.S. Department of
Justice that protects our communities from violent criminals,
criminal organizations, the illegal use and trafficking of
firearms, the illegal use and storage of explosives, acts of
arson and bombings, acts of terrorism, and the illegal diversion
of alcohol and tobacco products.
W
Withdrawl
Failure to reach the reserve price or insufficient bidding.
About PICKER NEWS ETHICS BOARD - Code of Ethics
PREAMBLE
The National Auctioneers Association is the professional
organization for practicing auctioneers, their associates,
affiliated businesses and other related professionals.
Membership in the PICKER NEWS ETHICS BOARD although voluntary,
carries with it a requirement of professional commitment to
other professionals, Clients, customers and the public at large
that extends beyond that of laws and professional regulations.
Members of the PICKER NEWS ETHICS BOARD accept this obligation
to conduct themselves and their businesses in a manner that
serves the public interest, protects the public trust and
furthers the goals of their profession.
This Code of Ethics of the National Auctioneers Association and
the accompanying Standards of Practice guides the Members in the
performance of their professional responsibilities and duties.
Complaints can be filed against PICKER NEWS ETHICS BOARD Members
who do not adhere to the Code of Ethics and shall be handled in
accordance with the procedures established by the Board of
Directors.
ARTICLE 1.
Members pledge to lawfully and ethically protect and promote the
interests of the seller (from now on referred to as the Client).
ARTICLE 2.
Members owe the buyer (from now on referred to as the Customer)
the duties of honesty, integrity and fair dealing at all times.
ARTICLE 3.
Members shall not accept compensation related to a Client's
matter from any third party, even if permitted by law, without
the full knowledge of all the parties to the transaction.
ARTICLE 4.
Members shall disclose any potential conflict of interest to a
current or potential Client.
ARTICLE 5.
Members shall not make a profit on expenditures made for a
Client without the Client's prior and expressed consent.
ARTICLE 6.
Members shall not engage in activities that constitute the
unauthorized practice of law.
ARTICLE 7.
Members shall maintain a separate and designated account in an
appropriate financial institution to maintain monies coming into
their possession in trust for other persons such as escrows or
trust funds.
ARTICLE 8.
Members shall not disclose any confidential Client information
without the Client's prior, expressed consent, unless required
by law.
ARTICLE 9.
Members shall not misrepresent or conceal material facts.
ARTICLE 10.
Members are duty bound at all times to abide by the laws and
regulations which govern them.
ARTICLE 11.
Members shall report violations of the Code of Ethics and
participate in all investigations and disciplinary proceedings
when requested.
ARTICLE 12.
A Member's conviction of a felony involving the Member acting as
an auctioneer, or otherwise participating in an auction, shall
be deemed a violation of the Code of Ethics and result in
discipline determined by the Board of Directors.
ARTICLE 13.
During the period that a Member owes an unpaid and unsatisfied
civil, criminal, or regulatory cost, damage, fine, judgment,
penalty, sanction, or other amount which was awarded, entered,
levied, or ordered against the Member by an agency, authority,
board, bureau, commission, court, department, or other arm of
government shall result in the Member being in violation of the
Code of Ethics and subject to discipline determined by the Board
of Directors.
ARTICLE 14.
A Member's auctioneer license is revoked by a licensing
authority in any jurisdiction within the United States, for
misconduct, wrongdoing, or another violation that occurred in
connection with the Member acting as an auctioneer, or otherwise
participating in an auction shall result in a Member being
deemed in violation of the Code of Ethics and subject to
discipline as determined by the Board of Directors.
PROCEDURE FOR COMPLAINT OF THE CODE OF ETHICS
Upon receipt of a written complaint alleging that a Member has
violated the Code of Ethics, the Chief Executive Officer shall
forward a copy of such written complaint to the accused Member
and request that the accused Member provide a response in
writing to such charges. The complainant and the written
response shall be forwarded by the CEO to the Grievance
Committee with the names of the complainant and accused Member
redacted. The Grievance Committee shall thereafter undertake an
investigation of the complaint and make a written report to the
Board of Directors concerning said complaint. If there is a
finding of no violation, the Member shall be notified.
If the finding includes a recommendation to the Board of
Directors stating that there is a reasonable cause to believe
that such Member has engaged in conduct in violation of the Code
of Ethics, the Member against whom the complaint has been made
will be notified of that decision and afforded an opportunity to
respond to the complaint including allowing the accused to
appear before the Board of Directors and present evidence in
support of the Member position with the right of the Member to
hire and be represented by counsel at such or hearing.
The parties may introduce such documentary evidence and present
such testimony of witnesses, sworn by the Past President, as the
Board of Directors shall reasonably deem relevant to the issues
and both sides of the controversy shall be accorded a full
opportunity to be heard. At the conclusion of the hearing, the
Board of Directors, as soon as it is practically possible, but
not later than two (2) weeks thereafter, shall consider the
evidence and render a written opinion and decision.
Should the Board of Directors find a violation of the Code of
Ethics, the Board of Directors shall also determine the
discipline to be assessed which may include private censure,
public censure, suspension and/or revocation from Membership.
The decision shall be conveyed to the Member by certified mail.
STANDARDS OF PRACTICE
The following Standards of Practice are provided to encourage
the highest standards of conduct among the Membership of
National Auctioneers Association. These guidelines are a
companion document to the Code of Ethics for the PICKER NEWS
ETHICS BOARD. While the Standards of Practice may not be
enforced with Membership sanctions, these guidelines should
nonetheless be promoted, practiced and encouraged by PICKER NEWS
ETHICS BOARD Members. Non-compliance of these guidelines should
be self-policed by fellow PICKER NEWS ETHICS BOARD Members.
·
Members must not build unreasonable expectations about the
outcome of an auction in the mind of a potential Client in order
to secure the Client's business.
·
Members should conduct their business affairs so as to promote a
positive image of their business and therefore the auction
profession.
·
Members shall provide customers with a clear understanding of
all the terms and conditions of the auction. Prior to the
auction, customers for real estate auctions should be provided a
copy of the contract to be signed. Following the auction,
customers for personal property auctions should be provided a
written bill of sale.
·
It is highly recommended that Members communicate terms and
conditions of the sale in written form prior to the commencement
of the bidding.
·
Members should, to assure better service to the seller and to
prevent misunderstandings, enter into written agreements or, at
a minimum, clear oral agreements that set forth the specific
terms and conditions of the engagement.
·
Members have an obligation to conduct their business affairs in
a professional manner, developing their contract forms with this
Article in mind.
·
Members should discuss all aspects of the services to be
provided and include them in written form where appropriate
including: duties and obligations of the parties; services
provided by the Member; insurance coverage relating to
liability, theft and casualty loss; use of a buyer's premium, if
applicable; handling of funds received and controlled by the
Member; sales tax, if applicable; and form of payment by buyers.
Additionally, Members must provide the Client with a timely,
detailed written accounting of the sale, which must include
information concerning the handling and timely disposition of
all funds received or controlled by the Member.
·
Members shall provide the highest level of competent service in
those fields in which Members are customarily engaged. This
competency is attained by education, training, study, practice
and experience. Competence also includes the wisdom to recognize
the limitations of that knowledge and when to seek the counsel,
assistance or Client referral appropriate for the circumstances.
·
The concept of competency also extends to Members who are
requested or required to travel to geographic areas where they
do not have recent auction experience. Members not in a position
to spend the necessary time in a market area to obtain the
appropriate understanding of market conditions, may find
affiliating with a qualified local auctioneer the appropriate
response to ensure a competently conducted auction.
·
Members must ascertain all pertinent facts necessary to
implement a professional marketing campaign.
·
Members should never publicly criticize a competitor using false
or deceptive information. Where an opinion of a competitor's
transaction is especially requested, it should be rendered in
conformity with strict professional courtesy and dignity.
·
Members shall not directly or indirectly solicit the affiliation
of an employee or independent contractor in the organization of
other Members without the prior notice to said Member.
·
Members should willingly share with other Members the lessons
learned through experience and study to better the profession,
Members' business practices and how the profession is perceived
by society. Members shall be loyal to the PICKER NEWS ETHICS
BOARD; this includes active participation in educational, civic
and charitable endeavors.
·
In order for any professional organization to earn and maintain
the confidence of the constituencies it serves, it must
demonstrate to them the ability to "police" its own. Members
have the unique ability to observe and therefore assist in the
stewardship of this trust. Members have an obligation to assist
the PICKER NEWS ETHICS BOARD and its officers in all matters,
including the investigation, censure, discipline, or dismissal
of Members who engage in violations of the Code of Ethics.
Q:[WILL WE USE CONSIGNMENT CONTRACTS
OR LEGAL DOCUMENTS OF SOME SORT?]
A:[YES HERES A
SAMPLE
CONSIGNMENT
AGREEMENT
This
Consignment Agreement (this "Agreement") is made effective as of
___________________,
between
CONSIGNOR and Picker News Consignee, of XXXXXX, Montour falls,
New York
14864.
In the
Agreement, the party who is granting the right to sell its
merchandise will be referred to as
"CONSIGNOR",
and the other party who is receiving the right to sell the
merchandise will be
referred to as
"PNC-NY".
The parties
agree as follows:
I. RIGHT TO
SELL. CONSIGNOR owns contents of _____________________ w/PNC
Item # and
Release Date ("Agreed Items"). In accordance with this
Agreement, CONSIGNOR
grants PNC-NY
an exclusive right to sell the Agreed Items under the terms of
this Agreement.
This exclusive
right to sell only applies to the following described territory:
Area Code 607 in State
of New York
PNC-NY agrees to devote its best efforts to the sale of the
Agreed Items. All sales
prices and
terms of sale shall be determined by PNC-NY....AND SO FORTH
...ETC...
ALL DOCUMENTS
LEGAL AND AGREEMENTS VERBAL HAVE SIMILAR FORMAT AND LEGAL IN THE
STATE YOU LIVE IN.
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