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northeastern Ohio | Auctions are governed by the Uniform Commercial Code in most states. https://www.law.cornell.edu/ucc/2/2-328 The Secretary of State of each state is in charge of enforcing the laws under the UCC.
The auctioneer works for the seller. Their job is to get the maximum dollar amount for the seller. It is my understanding that the auctioneer (or employee of the auctioneer) can see the max bids on most internet bidding platforms (Proxibid, Auctiontime, ect).
With the above knowledge, I refuse to use "max bid" on anything I am seriously interested in. I think most auctioneers are ethical, but people are human. The auctioneer can be ethical, but if the employee in charge of giving the internet bids to the auctioneer is not, then your max bid may become the last bid....
Proxibid puts the following disclaimer in a lot of their auction terms: At the request of the auction company, this auction permits bids to be placed by the auctioneer or an employee of the auctioneer. While Proxibid's Unified User Agreement prohibits this behavior, in accordance with UCC 2-328, this auction is permitted to engage in this activity by providing this clear disclosure to you, the bidder. Absolute auctions do not permit bidding by seller or an agent of the seller.
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are there state and fed laws on auctioins?
