Georgia Auction Law

Georgia is a state in the United States’ Southeastern region, bordering to the north by Tennessee and North Carolina, to the northeast by South Carolina, to the southeast by the Atlantic Ocean, to the south by Florida, and to the west by Alabama. Georgia is the 24th-largest state by area and the 8th-most populated state in the United States. With a population of more than 6 million people in 2019, the Atlanta metropolitan region is the ninth most populous in the United States, accounting for approximately 57 percent of Georgia’s total population.

Georgia was the latest and southernmost of the original Thirteen Colonies to be created, having been founded in 1733 as the Province of Georgia and becoming a royal colony in 1752. The Georgia Colony, named after King George II of Great Britain, extended from South Carolina south to Spanish Florida and west to French Louisiana at the Mississippi River. On the 2nd of January, 1788, Georgia became the fourth state to ratify the United States Constitution.

GEORGIA AUCTION LAW, RULES & REGULATIONS AND FEES

§ 43-6-1. Definitions As used in this chapter, the term: 

(1) “Absolute auction” shall mean that ownership and title of real or personal property offered at auction must be conveyed to the high bidder without reservation and without any competing bids of any type by the owner or an agent of the owner of the property. 

(2) “Auction business” or “business of auctioning” means the performing of any of the acts of an auctioner, including bid calling for a fee, commission, or any other valuable consideration or with the intention or expectation of receiving the same by means of or by process of an auction or sale at auction or offering, negotiating, or attempting to negotiate a listing contract for the sale, purchase, or exchange of goods, chattels, merchandise, real or personal property, or any other commodity which lawfully may be kept or offered for sale. 

(3) “Auction with reserve” shall mean that the seller reserves the right to refuse any and all bids. 

(4) “Auctioneer” means any person who, for a fee, commission, or any other valuable consideration or with the intention or expectation of receiving the same by means of or by process of an auction or sale at auction, offers, negotiates, or attempts to negotiate a listing contract, sale, purchase, or exchange of goods, chattels, merchandise, real or personal property, or any other commodity which lawfully may be kept or offered for sale and has been duly licensed, as provided in this chapter. 

(5) “Commission” means the Georgia Auctioneers Commission. 

(6) “Company” means an association, partnership, limited liability company, corporation, or sole proprietorship and shall also include the officers, directors, members, and employees of such entities.

(7) “Goods” means any chattel, goods, merchandise, real or personal property, or commodities of any form or type which lawfully may be kept or offered for sale. 

(8) “Person or persons” means an individual.

(9) “Ringperson” means any person employed directly by an auctioneer or auction company responsible for a sale who assists the auctioneer in the conduct of an auction, provided that such person shall not be permitted to call or chant a bid or negotiate a listing contract. 

§ 43-6-2. Creation of commission; composition; terms of office; qualifications of members.

(a) The Georgia Auctioneers Commission is created under the Secretary of State and the division director. 

(b) The commission shall be composed of six members, each of whom shall be appointed by the Governor, with the approval of the Secretary of State, and confirmed by the Senate. Appointments shall be for a term of five years, to end on the anniversary date of original appointments, except appointments to fill a vacancy which shall be for the unexpired term only. 

(c) Five members of the commission shall be licensed auctioneers who shall have been residents of this state and actively engaged in the auctioneering business for at least five years. One member shall be a consumer advocate and a resident of this state and shall have no connection whatsoever with the practice or profession of auctioneering.

§ 43-6-3. Selection of chairman; rules and regulations; meetings

(a) The commission shall organize by selecting from its members a chairman and may do all things necessary and convenient to carry this chapter into effect and, from time to time, may promulgate necessary rules and regulations to carry out this chapter. 

(b) The commission shall meet as necessary and shall remain in session as long as the chairman deems it necessary to give full consideration to the business before the commission.

§ 43-6-6. Seal The commission shall adopt a seal, which may be either an engraved or ink stamp seal, with the words “State Auctioneers Commission, State of Georgia” and such other devices as the commission may desire included thereon, by which it shall authenticate the acts of the commission

§ 43-6-7. Adoption of rules and regulations The commission is authorized to adopt rules and regulations relating to the professional conduct of licensees, a code of ethics, and the administration of this chapter. Such rules and regulations shall not apply to and shall not set schedules of fees or commissions for the services of the licensees.

§ 43-6-8. Authority to regulate issuance of licenses, to revoke or suspend licenses, and to censure licensees Except as provided in Code Section 43-1-4, the commission shall have the power to regulate the issuance of licenses, to revoke or suspend licenses issued under this chapter, and to censure licensees for any violation of this chapter.

§ 43-6-9. License requirement for auctioneers; registration for companies conducting auctions; restrictions as to sales of real property.

(a) It shall be unlawful for any person, directly or indirectly, to engage in, conduct, advertise, hold himself or herself out as engaging in or conducting the business of, or act in the capacity of, an auctioneer within this state without first obtaining a license as an auctioneer, as provided in this chapter, unless he or she is exempted from obtaining a license under Code Section 43-6-24.

(b) It shall be unlawful for any licensed auctioneer to act in such capacity in the sale of real property unless such auctioneer shall also be licensed as a real estate broker, associate broker, or salesperson under Chapter 40 of this title; provided, however, that any auctioneer who was licensed as such by this state prior to July 1, 1978, and who, prior to December 31, 1984, submits proof to the commission that he or she has been auctioning real property for five years or more immediately prior to the date of application shall not be required to meet the provisions of this subsection but such person shall not thereby be construed to be a real estate broker, associate broker, or salesperson under Chapter 40 of this title. 

(c) It shall be unlawful for any company, directly or indirectly, to engage in, conduct, advertise, hold itself out as engaging in or conducting the business of auctioning without first being registered by the commission, unless such company is exempted from obtaining a license pursuant to Code Section 43-6-24.

Share This Post

Videos

Play Video
Play Video

Popular Stories

Get The Latest Updates

Subscribe To Our Newsletter

No spam, notifications only about new products, updates.