TITLE XXXI
TRADE AND COMMERCE
CHAPTER 358-G
REGULATION OF AUCTIONS
Section 358-G:1 Definitions
Section 358-G:2 General Prohibitions
Section 358-G:2-a Disclosure Required
Section 358-G:3 Remedy; Penalties
358-G:1 Definitions. – As used in this chapter:
I. "Auction'' means the public sale of property real or
personal, or both, in which the sale price of the property offered is increased
by bids until the highest acceptable bidder becomes the purchaser pursuant to
RSA 311-B.
II. "Collusive bidding'' means a practice whereby the
auctioneer, the seller, or anyone acting on behalf of the auctioneer or seller,
causes, employs any person to engage in, or knowingly allows, fictitious bidding
during an auction for the purpose of bidding up the price of any goods in
competition with bona fide bidders, or for the purpose of encouraging or
enticing bona fide bidders to purchase, or for the purpose of stimulating
competitive bidding to purchase. Collusive bidding shall include any use of
false bidders, cappers, shills, or by-bidders.
III. "Person'' means any person defined by RSA 358-A:1, I.
Source. 1979, 447:1, eff. Aug. 24, 1979. 1998, 17:1, eff. Jan. 1, 1999.
358-G:2 General Prohibitions. –
I. No person shall advertise as an auction the sale of
property unless such advertised sale is conducted pursuant to RSA 311-B.
II. No person shall enter into and participate in collusive
bidding practices.
Source. 1979, 447:1, eff. Aug. 24, 1979.
358-G:2-a Disclosure Required. – If a buyer's premium is to be charged at any auction held in this state, any advertisement for such auction shall state clearly that a buyer's premium will be charged. In addition, a notice disclosing that a buyer's premium will be charged shall also be posted conspicuously at the site of the auction.
Source. 1994, 141:1, eff. July 22, 1994.
358-G:3 Remedy; Penalties. – Any violation of this chapter is an unfair or deceptive act or practice within the meaning of RSA 358-A:2, provided that, notwithstanding RSA 358-A:6, any person who violates RSA 358-G:2, II shall be guilty of a class A misdemeanor if a natural person or a felony if any other person. Any right or remedy set forth in RSA 358-A may be used to enforce this chapter.
Source. 1979, 447:1, eff. Aug. 24, 1979. 1998, 17:2, eff. Jan. 1, 1999.
