IL Auctioneer Practice Questions - Illinois Licensed Auctioneer Exam

Which of the following is an auctioneer's duty under the duty of confidentiality?

Sharing the seller's reserve price with potential buyers to encourage bidding Keeping the seller's financial information and reserve prices confidential Publishing the seller's reason for selling in the auction catalog Disclosing the seller's minimum acceptable price to the highest bidder

Correct Answer:

Keeping the seller's financial information and reserve prices confidential

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