SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

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A South Carolina auctioneer discovers after the auction that a bidder used a stolen credit card to pay for $8,000 in purchases. What should the auctioneer do?

Keep the money since the auction is final Report the fraud to law enforcement, work with the credit card company on the chargeback, and attempt to recover the items if possible Contact only the seller Absorb the loss without reporting it

Correct Answer:

Report the fraud to law enforcement, work with the credit card company on the chargeback, and attempt to recover the items if possible

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