MA Auctioneer Practice Questions - Massachusetts Licensed Auctioneer Exam

Under Massachusetts law, what is required when advertising an auction as 'absolute' or 'without reserve'?

The auctioneer must obtain court approval The seller must honor the commitment to sell to the highest bidder regardless of price The auctioneer must set a minimum bid of $1 The sale must be approved by a licensed appraiser

Correct Answer:

The seller must honor the commitment to sell to the highest bidder regardless of price

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