SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

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A buyer wins an item at a South Carolina auction for $5,000 but later claims the auction was fraudulent because the auctioneer used shill bids. What remedy may the buyer seek?

No remedy; all auction sales are final The buyer may seek rescission of the sale, return of money paid, and potentially additional damages for fraud The buyer can only file a complaint with the Auctioneers' Commission The buyer must wait for the auctioneer's license renewal to file a complaint

Correct Answer:

The buyer may seek rescission of the sale, return of money paid, and potentially additional damages for fraud

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