Auctioneer.

Auctioneer. the person who conducts an Auction (q.v.). The auctioneer is in a certain sense the agent both of seller and purchaser, and by the fall of his hammer, or by writing the purchaser's name in his book, he binds him to accept the article sold at the price indicated. The auctioneer may also, and frequently does, act as agent for absent purchasers, or for persons who have instructed him to make biddings for them during the sale. In both cases, however, the purchaser must be bonâ fide, otherwise the auctioneer would himself become a 'puffer.' As to the circumstances in which he may bid for the seller, see AUCTION. Where the auctioneer declines or omits to disclose the seller's name, he undertakes the responsibilities of the latter to the purchasers. To the seller, again, he is responsible for ordinary skill, assiduity, and prudence. Every auctioneer pays an annual duty of £10 to government for his license, which must be renewed on the 5th July; though there are certain judicial sales which may be conducted by bailiffs without license. But the want of a license does not vitiate the sale. An additional license is required for the sale of excisable goods, but the ordinary license entitles an auctioneer to act also as appraiser. An auctioneer is generally paid by commission on proceeds after deduction of expenses, and this is due even where the owner makes a private sale after an unsuccessful exposure; for this commission the auctioneer has a lien upon the price and goods in his hands. The auctioneer is liable for negligence in the custody of goods sent to him for sale, but he is not liable for the price unless he has received it.