MA Auctioneer Practice Questions - Massachusetts Licensed Auctioneer Exam

What is 'due diligence' in the context of an auctioneer accepting consignments?

Appraising every item for insurance purposes Exercising reasonable care to verify ownership, condition, and legal right to sell consigned property Advertising the auction in at least three publications Obtaining written bids from at least five potential buyers before the auction

Correct Answer:

Exercising reasonable care to verify ownership, condition, and legal right to sell consigned property

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