SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

How does the South Carolina Auctioneer Law define an 'auction'?

Any sale of goods in a retail store The sale or offering for sale of property through competitive bidding, where the property is sold to the highest bidder A private transaction between two individuals A government-sponsored sale only

Correct Answer:

The sale or offering for sale of property through competitive bidding, where the property is sold to the highest bidder

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