NY A01730

Auctioneers held responsible for truthfulness of all statements in catalogues, advertisements, announcements, and public statements related to auctions.

Requires written contracts between consignors and auctioneers for all personal property auctions (unless court-ordered), with specified provisions for itemized fees, title warranties, and indemnification.

Mandates disclosure of auctioneer interests in articles, consignor rebates, reserve prices, loans to purchasers, and estimates through catalogues, signs, and oral announcements.

Establishes restrictions on auctioneer bidding before reserve price is met, prohibits bidding after reserve is reached (with limited exceptions), and requires invoices with detailed sale information.

Prohibits auctioneers from disclaiming warranty of title and requires reimbursement of full purchase price plus buyer's commission if purchaser does not receive transferable title; exempts certain auctions including motor vehicles, livestock, farm sales, and court-ordered sales.