How Well Do You Know North Carolina's Auction Industry Regulations?
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Questions and Answers

What is the minimum number of hours of classroom instruction required for an approved school of auctioneering?

  • 60 hours
  • 40 hours
  • 100 hours
  • 80 hours (correct)

    • What must auctioneers, apprentice auctioneers, and auction firms report to the Board?

  • Changes to their website
  • Any criminal arrests, charges, or convictions (correct)
  • Changes to their email address
  • Changes to their address and phone number

    • What must schools of auctioneering seeking approval submit in their application?

  • Curriculum vitae of all instructors
  • Information about the school's director and instructors (correct)
  • List of all students who completed the course
  • Financial statements for the past 5 years

    • What is the consequence for auction firms that fail to meet or maintain requirements or falsify information?

    <p>Their approval may be denied, suspended, or revoked</p> Signup and view all the answers

    When may unlicensed individuals call bids for training purposes in a Board-approved school?

    <p>Under the direct supervision of a licensed auctioneer who is also an instructor</p> Signup and view all the answers

    What must be included in all auction-related advertisements?

    <p>The auctioneer's name and license number</p> Signup and view all the answers

    What is required before conducting an auction as an 'estate sale'?

    <p>Majority of items in the sale must come from the estate of the living or deceased person(s)</p> Signup and view all the answers

    What is the consequence for advertising an auction as 'absolute' or 'without reserve' when it is subject to confirmation, minimum bid, or any other condition of sale?

    <p>A penalty</p> Signup and view all the answers

    What is the consequence for advertising a 'bankruptcy sale' unless the item(s) offered for sale are from an active bankruptcy action?

    <p>A penalty</p> Signup and view all the answers

    What is required before conducting an auction as a 'bankruptcy sale'?

    <p>Majority of items in the sale must come from the bankruptcy of one or more parties</p> Signup and view all the answers

    What is the requirement for licensees who want to advertise using a name, assumed name, trade name, or combination of names?

    <p>They must file a written notice with the Board</p> Signup and view all the answers

    What must auctioneers possess in order to be entitled to the high regard and confidence of the public?

    <p>Truth, honesty, and integrity</p> Signup and view all the answers

    What is the minimum number of hours of classroom instruction required for an approved school of auctioneering?

    <p>80 hours</p> Signup and view all the answers

    What must auctioneers, apprentice auctioneers, and auction firms report to the Board?

    <p>Any criminal arrests, charges, or convictions</p> Signup and view all the answers

    What must schools of auctioneering seeking approval submit in their application?

    <p>Information about the school's director and instructors</p> Signup and view all the answers

    What is the consequence for auction firms that fail to meet or maintain requirements or falsify information?

    <p>Their approval may be denied, suspended, or revoked</p> Signup and view all the answers

    When may unlicensed individuals call bids for training purposes in a Board-approved school?

    <p>Under the direct supervision of a licensed auctioneer who is also an instructor</p> Signup and view all the answers

    What must be included in all auction-related advertisements?

    <p>The auctioneer's name and license number</p> Signup and view all the answers

    What is required before conducting an auction as an 'estate sale'?

    <p>Majority of items in the sale must come from the estate of the living or deceased person(s)</p> Signup and view all the answers

    What is the consequence for advertising an auction as 'absolute' or 'without reserve' when it is subject to confirmation, minimum bid, or any other condition of sale?

    <p>A penalty</p> Signup and view all the answers

    What is the consequence for advertising a 'bankruptcy sale' unless the item(s) offered for sale are from an active bankruptcy action?

    <p>A penalty</p> Signup and view all the answers

    What is required before conducting an auction as a 'bankruptcy sale'?

    <p>Majority of items in the sale must come from the bankruptcy of one or more parties</p> Signup and view all the answers

    What is the requirement for licensees who want to advertise using a name, assumed name, trade name, or combination of names?

    <p>They must file a written notice with the Board</p> Signup and view all the answers

    What must auctioneers possess in order to be entitled to the high regard and confidence of the public?

    <p>Truth, honesty, and integrity</p> Signup and view all the answers

    Which of the following violations may result in penalties, license denial, suspension, or revocation for auctioneers in North Carolina?

    <p>All of the above</p> Signup and view all the answers

    What is the minimum number of hours of classroom instruction required for an approved school of auctioneering in North Carolina?

    <p>80</p> Signup and view all the answers

    What must schools of auctioneering seeking approval submit with their application to the North Carolina Board of Auctioneers?

    <p>Information about the school's name, director, and website</p> Signup and view all the answers

    What information must be included in all auction-related advertisements in North Carolina?

    <p>The auctioneer's or auction firm's name and license number</p> Signup and view all the answers

    When may unlicensed individuals call bids in a Board-approved school of auctioneering in North Carolina?

    <p>Only for training purposes under the direct supervision of a licensed auctioneer who is also an instructor</p> Signup and view all the answers

    What must be disclosed in advertisements for an 'Estate Sale' in North Carolina?

    <p>Whether it is the estate of a living or deceased person</p> Signup and view all the answers

    What is required for an auction to be advertised as a 'Bankruptcy Sale' in North Carolina?

    <p>The majority of items in the sale must come from a bankruptcy of one or more parties</p> Signup and view all the answers

    What is a violation when advertising an auction in North Carolina using descriptive words such as 'Urgent', 'Emergency', or 'Distress'?

    <p>Not disclosing the reason for the sale</p> Signup and view all the answers

    What must be reported to the North Carolina Board of Auctioneers when there are changes to a licensee's business address?

    <p>Changes to directors, officers, or partners</p> Signup and view all the answers

    What is required for an auction item to be advertised as 'Absolute' or 'Without Reserve' in North Carolina?

    <p>The item must be subject to confirmation, minimum bid, or any other condition of sale</p> Signup and view all the answers

    How often does the North Carolina Board of Auctioneers evaluate schools' curriculum and instructors for reapproval?

    <p>Every two years</p> Signup and view all the answers

    What may happen to a school of auctioneering's approval if it falsifies or misrepresents information in North Carolina?

    <p>It may face penalties</p> Signup and view all the answers

    What must be included in all auction-related advertisements?

    <p>The auctioneer's, apprentice auctioneer's, or auction firm's name and license number</p> Signup and view all the answers

    What is required before conducting an auction as an 'estate sale'?

    <p>The majority of items in the sale must come from the estate of the living or deceased person(s)</p> Signup and view all the answers

    What is the consequence for advertising an auction as 'absolute' or 'without reserve' when it is subject to confirmation, minimum bid, or any other condition of sale?

    <p>It is a violation</p> Signup and view all the answers

    What is the consequence for advertising a 'bankruptcy sale' unless the item(s) offered for sale are from an active bankruptcy action?

    <p>It is a violation</p> Signup and view all the answers

    What is required before conducting an auction as a 'bankruptcy sale'?

    <p>The majority of the items in the sale must come from the bankruptcy of one or more parties</p> Signup and view all the answers

    What must licensees report to the Board if there are changes to their trade name?

    <p>Changes to their residence or business address, trade name, assumed name, or combination of names</p> Signup and view all the answers

    What is the consequence for approved schools of auctioneering that falsify or misrepresent information?

    <p>The Board may deny, suspend, or revoke the school's approval</p> Signup and view all the answers

    What is the minimum number of hours of classroom instruction required for an approved school of auctioneering?

    <p>80 hours</p> Signup and view all the answers

    What must auctioneers possess in order to be entitled to the high regard and confidence of the public?

    <p>Truth, honesty, and integrity</p> Signup and view all the answers

    What must be included in an advertisement for an 'Estate Sale'?

    <p>Whether it is the estate of a living or deceased person</p> Signup and view all the answers

    What is the consequence for advertising any auction using such descriptive words as 'Urgent,' 'Emergency,' 'Distress,' or any other word that connotes liquidation of assets or that the buyers will be in a position to reap some unusual bargain without disclosing the reason for the sale?

    <p>It is a violation</p> Signup and view all the answers

    What is the consequence for advertising any auction using such descriptive words as 'Seized,' 'Confiscated,' 'Forfeited,' or any other word that connotes a governmental action without disclosing the exact nature of the government action?

    <p>It is a violation</p> Signup and view all the answers

    What is the consequence for auctioneers, apprentice auctioneers, or auction firms that violate state laws, rules, or regulations related to auctioneering?

    <p>They may be assessed penalties, denied, suspended, or have their license revoked or receive a reprimand.</p> Signup and view all the answers

    What is the minimum number of classroom instruction hours required for approved schools of auctioneering?

    <p>80 hours</p> Signup and view all the answers

    What must schools of auctioneering seeking approval include in their application?

    <p>Information about the school's name, director, physical and email addresses, website, instructors, and curriculum.</p> Signup and view all the answers

    What is the consequence for auction firms that fail to meet or maintain requirements or falsify information?

    <p>The Board may deny, suspend, or revoke the firm's approval.</p> Signup and view all the answers

    Under what circumstance may unlicensed individuals call bids for training purposes in a Board-approved school?

    <p>Under the direct supervision of a licensed auctioneer who is also an instructor.</p> Signup and view all the answers

    What must be included in all auction-related advertisements?

    <p>The auctioneer's, apprentice auctioneer's, or auction firm's name and license number.</p> Signup and view all the answers

    What is required before conducting an auction as an 'estate sale'?

    <p>The majority of items in the sale must come from the estate of the living or deceased person(s).</p> Signup and view all the answers

    What is the consequence for advertising an auction as 'absolute' or 'without reserve' when it is subject to confirmation, minimum bid, or any other condition of sale?

    <p>It is a violation.</p> Signup and view all the answers

    What is the consequence for advertising a 'bankruptcy sale' unless the item(s) offered for sale are from an active bankruptcy action?

    <p>It is a violation.</p> Signup and view all the answers

    What is required before conducting an auction as a 'bankruptcy sale'?

    <p>The majority of the items in the sale must come from the bankruptcy of one or more parties.</p> Signup and view all the answers

    What is the requirement for licensees who want to advertise using a name, assumed name, trade name, or combination of names?

    <p>They must file written notice with the Board.</p> Signup and view all the answers

    What must auctioneers possess in order to be entitled to the high regard and confidence of the public?

    <p>Truth, honesty, and integrity.</p> Signup and view all the answers

    What is the consequence for auctioneers, apprentice auctioneers, and auction firms who violate state laws, rules, or regulations related to auctioneering?

    <p>They may be assessed penalties, denied, suspended or revoked licenses, or issued reprimands.</p> Signup and view all the answers

    What information must be included in the application for schools of auctioneering seeking approval?

    <p>The school's name, director, physical and email addresses, website, instructors, and curriculum.</p> Signup and view all the answers

    What is the minimum number of hours of classroom instruction required in the curriculum for approved schools of auctioneering?

    <p>80 hours</p> Signup and view all the answers

    What must schools of auctioneering do with their course records, and what must they provide to students who complete the course?

    <p>Maintain records of course dates, student information, instructor qualifications, and course instruction hours for five years and provide students who complete the course with a transcript.</p> Signup and view all the answers

    What is the consequence for schools of auctioneering that fail to meet or maintain requirements or falsify or misrepresent information?

    <p>The Board may deny, suspend, or revoke a school's approval.</p> Signup and view all the answers

    Under what circumstances may unlicensed individuals call bids for training purposes in a Board-approved school?

    <p>Under the direct supervision of a licensed auctioneer who is also an instructor.</p> Signup and view all the answers

    What changes must licensees notify the Board of?

    <p>Changes to their residence or business address, trade name, assumed name, or combination of names.</p> Signup and view all the answers

    What must be disclosed in advertisements for an 'Estate Sale'?

    <p>Whether it is the estate of a living or deceased person.</p> Signup and view all the answers

    What is required before conducting an auction as an 'Estate Sale'?

    <p>The majority of items in the sale must come from the estate of the living or deceased person(s).</p> Signup and view all the answers

    What is the consequence for advertising an auction as 'Absolute' or 'Without Reserve' if the item is subject to confirmation, minimum bid, or any other condition of sale?

    <p>It is a violation.</p> Signup and view all the answers

    What is the consequence for advertising a 'Bankruptcy Sale' unless the item(s) offered for sale are from an active bankruptcy action?

    <p>It is a violation.</p> Signup and view all the answers

    What is required before conducting an auction as a 'Bankruptcy Sale'?

    <p>The majority of the items in the sale must come from the bankruptcy of one or more parties.</p> Signup and view all the answers

    What is the consequence for auctioneers, apprentice auctioneers, or auction firms who do not report criminal arrests, charges, or convictions, civil suits, and administrative proceedings to the Board?

    <p>They may have their license suspended or revoked</p> Signup and view all the answers

    What is the requirement for schools of auctioneering seeking approval?

    <p>They must submit an application that includes information about their curriculum</p> Signup and view all the answers

    What must the curriculum for approved schools of auctioneering include?

    <p>A minimum of 80 hours of classroom instruction in subjects such as bid calling, marketing, auctioneers' law and regulations, and ethics</p> Signup and view all the answers

    What is the consequence for auction firms that fail to maintain records of course dates, student information, instructor qualifications, and course instruction hours for five years?

    <p>They may have their license suspended or revoked</p> Signup and view all the answers

    What is the consequence for schools of auctioneering that falsify or misrepresent information?

    <p>They may have their approval denied, suspended, or revoked</p> Signup and view all the answers

    What is required for unlicensed individuals to call bids for training purposes in a Board-approved school?

    <p>They must be under the direct supervision of a licensed auctioneer who is also an instructor</p> Signup and view all the answers

    What changes must licensees notify the Board of?

    <p>Changes to their residence or business address, trade name, assumed name, or combination of names</p> Signup and view all the answers

    What is the consequence for auction firms that advertise items they do not intend to offer for sale at the advertised auction?

    <p>They may be fined</p> Signup and view all the answers

    What is required before conducting an auction as a 'bankruptcy sale'?

    <p>The majority of items in the sale must come from the bankruptcy of one or more parties</p> Signup and view all the answers

    What is required for licensees to advertise under a name, assumed name, trade name, or combination of names?

    <p>They must file written notice with the Board</p> Signup and view all the answers

    What is the consequence for advertising an auction as 'absolute' or 'without reserve' when it is subject to confirmation, minimum bid, or any other condition of sale?

    <p>They may be fined</p> Signup and view all the answers

    What is required before conducting an auction as an 'estate sale'?

    <p>The majority of items in the sale must come from the estate of the living or deceased person(s)</p> Signup and view all the answers

    What must be reported to the Board by licensees who have undergone changes in their business name or address?

    <p>Changes to their business name and address</p> Signup and view all the answers

    What is the consequence for auctioneers who practice while impaired?

    <p>They may be suspended or have their license revoked</p> Signup and view all the answers

    What must be included in the curriculum for approved schools of auctioneering?

    <p>A minimum of 80 hours of classroom instruction</p> Signup and view all the answers

    What is the requirement for schools of auctioneering seeking approval?

    <p>They must submit an application that includes information about their name, director, physical and email addresses, website, instructors, and curriculum.</p> Signup and view all the answers

    What is the consequence for auction firms that falsify or misrepresent information?

    <p>They may be suspended or have their license revoked</p> Signup and view all the answers

    What is the requirement for licensees who want to advertise using a name, assumed name, trade name, or combination of names?

    <p>They must file a written notice with the Board</p> Signup and view all the answers

    What is the consequence for advertising an auction as 'absolute' or 'without reserve' when it is subject to confirmation, minimum bid, or any other condition of sale?

    <p>A fine</p> Signup and view all the answers

    What is the consequence for advertising a 'bankruptcy sale' unless the item(s) offered for sale are from an active bankruptcy action?

    <p>A fine</p> Signup and view all the answers

    What is required before conducting an auction as an 'estate sale'?

    <p>The majority of items in the sale must come from the estate of the living or deceased person(s)</p> Signup and view all the answers

    What is the consequence for advertising any auction using such descriptive words as 'Urgent,' 'Emergency,' 'Distress' or any other word that connotes liquidation of assets or that the buyers will be in a position to reap some unusual bargain without disclosing the reason for the sale?

    <p>A fine</p> Signup and view all the answers

    What is the consequence for advertising any auction using such descriptive words as 'Seized,' 'Confiscated,' 'Forfeited,' or any other word that connotes a governmental action without disclosing the exact nature of the government action?

    <p>A fine</p> Signup and view all the answers

    What must apprentice auctioneers do in order to call bids in a Board-approved school?

    <p>They may call bids under the direct supervision of a licensed auctioneer who is also an instructor</p> Signup and view all the answers

    What is the consequence for auctioneers who engage in unprofessional conduct?

    <p>They may have their license suspended or revoked</p> Signup and view all the answers

    What must be reported to the Board by auctioneers, apprentice auctioneers, and auction firms?

    <p>Both A and B</p> Signup and view all the answers

    What subjects must be included in the curriculum for approved schools of auctioneering?

    <p>Bid calling and ethics</p> Signup and view all the answers

    What must schools of auctioneering seeking approval do if they want to advertise using a name, assumed name, trade name, or combination of names?

    <p>Both B and C</p> Signup and view all the answers

    What is the requirement for schools of auctioneering seeking approval to maintain records of?

    <p>Both A and B</p> Signup and view all the answers

    What is the consequence for auction firms that fail to meet or maintain requirements or falsify information?

    <p>They may have their approval revoked</p> Signup and view all the answers

    What is the requirement for unlicensed individuals who call bids for training purposes in a Board-approved school?

    <p>They must be under the direct supervision of a licensed auctioneer who is also an instructor</p> Signup and view all the answers

    What is the requirement for licensees who want to change their business address or trade name?

    <p>They must notify the Board</p> Signup and view all the answers

    What is the consequence for advertising an auction using such descriptive words as 'Urgent,' 'Emergency,' or 'Distress' without disclosing the reason for the sale?

    <p>They may be assessed penalties</p> Signup and view all the answers

    What is the requirement for advertisements for an 'Estate Sale'?

    <p>They must disclose whether it is the estate of a living or deceased person</p> Signup and view all the answers

    What is the consequence for advertising a 'bankruptcy sale' unless the item(s) offered for sale are from an active bankruptcy action?

    <p>All of the above</p> Signup and view all the answers

    What is the requirement for auctioneers to possess in order to be entitled to the high regard and confidence of the public?

    <p>Sufficient truth, honesty, and integrity</p> Signup and view all the answers

    Study Notes

    North Carolina Auctioneer Licensing Regulations

    • The North Carolina Board of Auctioneers may assess penalties, deny, suspend, or revoke licenses, or issue reprimands for various violations, including violations of state laws, rules, or regulations related to auctioneering, allowing unlicensed individuals to call bids, practicing while impaired, or engaging in unprofessional conduct.

    • Auctioneers, apprentice auctioneers, and auction firms must report any criminal arrests, charges, or convictions, as well as civil suits and administrative proceedings that involve potential revocation, suspension, or disciplinary action against a license.

    • Schools of auctioneering seeking approval must submit an application that includes information about the school's name, director, physical and email addresses, website, instructors, and curriculum.

    • The curriculum for approved schools must include a minimum of 80 hours of classroom instruction in subjects such as bid calling, marketing, auctioneers' law and regulations, and ethics, as well as supplemental instruction in areas such as antiques, firearms, and public speaking.

    • Schools must maintain records of course dates, student information, instructor qualifications, and course instruction hours for five years and provide students who complete the course with a transcript.

    • The Board may deny, suspend, or revoke a school's approval if it fails to meet or maintain requirements or falsifies or misrepresents information.

    • Unlicensed individuals may call bids for training purposes in a Board-approved school under the direct supervision of a licensed auctioneer who is also an instructor.

    • Licensees must notify the Board of any changes to their residence or business address, trade name, assumed name, or combination of names. In the case of corporate or partnership licenses, changes to directors, officers, or partners must also be reported.

    • In the case of an auction firm license, changes to designated persons must be reported. If the designated person is not a licensed auctioneer, they must still comply with certain provisions.

    • Auctioneers must possess truth, honesty, and integrity sufficient to be entitled to the high regard and confidence of the public.

    • The Board evaluates schools' curriculum and instructors for reapproval every two years.

    • The Board may deny, suspend, or revoke a school's approval if it fails to meet or maintain requirements or falsifies or misrepresents information.Rules for Advertising in Auctions

    • All auction-related advertisements must include the auctioneer's, apprentice auctioneer's, or auction firm's name and license number.

    • If an auctioneer is working for or with an auction firm, the relationship must be disclosed, and both license numbers must be given.

    • A general advertisement that does not concern a specific sale or specific sales shall not be subject to any identification requirement.

    • Licensees may advertise under a name, assumed name, trade name, or combination of names only if written notice has been filed with the Board.

    • Advertisements for an "Estate Sale" must disclose whether it is the estate of a living or deceased person.

    • Before conducting an auction as an "estate sale," the majority of items in the sale must come from the estate of the living or deceased person(s).

    • It is a violation to advertise a "Bankruptcy Sale" unless the item(s) offered for sale are from an active bankruptcy action.

    • Before conducting an auction as a "bankruptcy sale," the majority of the items in the sale must come from the bankruptcy of one or more parties.

    • It is a violation to advertise an item, either real or personal, as "Absolute" or "Without Reserve" if the item is subject to confirmation, minimum bid, or any other condition of sale.

    • It is a violation to advertise any auction using such descriptive words as "Urgent," "Emergency," "Distress" or any other word that connotes liquidation of assets or that the buyers will be in a position to reap some unusual bargain without disclosing the reason for the sale.

    • It is a violation to advertise any auction using such descriptive words as "Seized," "Confiscated," "Forfeited," or any other word that connotes a governmental action whereby items are seized or taken by a government department, agency, or commission without disclosing the exact nature of the government action.

    • It is a violation to advertise for sale items that the auctioneer/firm does not intend to offer for sale at the advertised auction.

    North Carolina Auctioneer Licensing Regulations

    • The North Carolina Board of Auctioneers may assess penalties, deny, suspend, or revoke licenses, or issue reprimands for various violations, including violations of state laws, rules, or regulations related to auctioneering, allowing unlicensed individuals to call bids, practicing while impaired, or engaging in unprofessional conduct.

    • Auctioneers, apprentice auctioneers, and auction firms must report any criminal arrests, charges, or convictions, as well as civil suits and administrative proceedings that involve potential revocation, suspension, or disciplinary action against a license.

    • Schools of auctioneering seeking approval must submit an application that includes information about the school's name, director, physical and email addresses, website, instructors, and curriculum.

    • The curriculum for approved schools must include a minimum of 80 hours of classroom instruction in subjects such as bid calling, marketing, auctioneers' law and regulations, and ethics, as well as supplemental instruction in areas such as antiques, firearms, and public speaking.

    • Schools must maintain records of course dates, student information, instructor qualifications, and course instruction hours for five years and provide students who complete the course with a transcript.

    • The Board may deny, suspend, or revoke a school's approval if it fails to meet or maintain requirements or falsifies or misrepresents information.

    • Unlicensed individuals may call bids for training purposes in a Board-approved school under the direct supervision of a licensed auctioneer who is also an instructor.

    • Licensees must notify the Board of any changes to their residence or business address, trade name, assumed name, or combination of names. In the case of corporate or partnership licenses, changes to directors, officers, or partners must also be reported.

    • In the case of an auction firm license, changes to designated persons must be reported. If the designated person is not a licensed auctioneer, they must still comply with certain provisions.

    • Auctioneers must possess truth, honesty, and integrity sufficient to be entitled to the high regard and confidence of the public.

    • The Board evaluates schools' curriculum and instructors for reapproval every two years.

    • The Board may deny, suspend, or revoke a school's approval if it fails to meet or maintain requirements or falsifies or misrepresents information.Rules for Advertising in Auctions

    • All auction-related advertisements must include the auctioneer's, apprentice auctioneer's, or auction firm's name and license number.

    • If an auctioneer is working for or with an auction firm, the relationship must be disclosed, and both license numbers must be given.

    • A general advertisement that does not concern a specific sale or specific sales shall not be subject to any identification requirement.

    • Licensees may advertise under a name, assumed name, trade name, or combination of names only if written notice has been filed with the Board.

    • Advertisements for an "Estate Sale" must disclose whether it is the estate of a living or deceased person.

    • Before conducting an auction as an "estate sale," the majority of items in the sale must come from the estate of the living or deceased person(s).

    • It is a violation to advertise a "Bankruptcy Sale" unless the item(s) offered for sale are from an active bankruptcy action.

    • Before conducting an auction as a "bankruptcy sale," the majority of the items in the sale must come from the bankruptcy of one or more parties.

    • It is a violation to advertise an item, either real or personal, as "Absolute" or "Without Reserve" if the item is subject to confirmation, minimum bid, or any other condition of sale.

    • It is a violation to advertise any auction using such descriptive words as "Urgent," "Emergency," "Distress" or any other word that connotes liquidation of assets or that the buyers will be in a position to reap some unusual bargain without disclosing the reason for the sale.

    • It is a violation to advertise any auction using such descriptive words as "Seized," "Confiscated," "Forfeited," or any other word that connotes a governmental action whereby items are seized or taken by a government department, agency, or commission without disclosing the exact nature of the government action.

    • It is a violation to advertise for sale items that the auctioneer/firm does not intend to offer for sale at the advertised auction.

    North Carolina Auctioneer Licensing Regulations

    • The North Carolina Board of Auctioneers may assess penalties, deny, suspend, or revoke licenses, or issue reprimands for various violations, including violations of state laws, rules, or regulations related to auctioneering, allowing unlicensed individuals to call bids, practicing while impaired, or engaging in unprofessional conduct.

    • Auctioneers, apprentice auctioneers, and auction firms must report any criminal arrests, charges, or convictions, as well as civil suits and administrative proceedings that involve potential revocation, suspension, or disciplinary action against a license.

    • Schools of auctioneering seeking approval must submit an application that includes information about the school's name, director, physical and email addresses, website, instructors, and curriculum.

    • The curriculum for approved schools must include a minimum of 80 hours of classroom instruction in subjects such as bid calling, marketing, auctioneers' law and regulations, and ethics, as well as supplemental instruction in areas such as antiques, firearms, and public speaking.

    • Schools must maintain records of course dates, student information, instructor qualifications, and course instruction hours for five years and provide students who complete the course with a transcript.

    • The Board may deny, suspend, or revoke a school's approval if it fails to meet or maintain requirements or falsifies or misrepresents information.

    • Unlicensed individuals may call bids for training purposes in a Board-approved school under the direct supervision of a licensed auctioneer who is also an instructor.

    • Licensees must notify the Board of any changes to their residence or business address, trade name, assumed name, or combination of names. In the case of corporate or partnership licenses, changes to directors, officers, or partners must also be reported.

    • In the case of an auction firm license, changes to designated persons must be reported. If the designated person is not a licensed auctioneer, they must still comply with certain provisions.

    • Auctioneers must possess truth, honesty, and integrity sufficient to be entitled to the high regard and confidence of the public.

    • The Board evaluates schools' curriculum and instructors for reapproval every two years.

    • The Board may deny, suspend, or revoke a school's approval if it fails to meet or maintain requirements or falsifies or misrepresents information.Rules for Advertising in Auctions

    • All auction-related advertisements must include the auctioneer's, apprentice auctioneer's, or auction firm's name and license number.

    • If an auctioneer is working for or with an auction firm, the relationship must be disclosed, and both license numbers must be given.

    • A general advertisement that does not concern a specific sale or specific sales shall not be subject to any identification requirement.

    • Licensees may advertise under a name, assumed name, trade name, or combination of names only if written notice has been filed with the Board.

    • Advertisements for an "Estate Sale" must disclose whether it is the estate of a living or deceased person.

    • Before conducting an auction as an "estate sale," the majority of items in the sale must come from the estate of the living or deceased person(s).

    • It is a violation to advertise a "Bankruptcy Sale" unless the item(s) offered for sale are from an active bankruptcy action.

    • Before conducting an auction as a "bankruptcy sale," the majority of the items in the sale must come from the bankruptcy of one or more parties.

    • It is a violation to advertise an item, either real or personal, as "Absolute" or "Without Reserve" if the item is subject to confirmation, minimum bid, or any other condition of sale.

    • It is a violation to advertise any auction using such descriptive words as "Urgent," "Emergency," "Distress" or any other word that connotes liquidation of assets or that the buyers will be in a position to reap some unusual bargain without disclosing the reason for the sale.

    • It is a violation to advertise any auction using such descriptive words as "Seized," "Confiscated," "Forfeited," or any other word that connotes a governmental action whereby items are seized or taken by a government department, agency, or commission without disclosing the exact nature of the government action.

    • It is a violation to advertise for sale items that the auctioneer/firm does not intend to offer for sale at the advertised auction.

    North Carolina Auctioneer Licensing Regulations

    • The North Carolina Board of Auctioneers may assess penalties, deny, suspend, or revoke licenses, or issue reprimands for various violations, including violations of state laws, rules, or regulations related to auctioneering, allowing unlicensed individuals to call bids, practicing while impaired, or engaging in unprofessional conduct.

    • Auctioneers, apprentice auctioneers, and auction firms must report any criminal arrests, charges, or convictions, as well as civil suits and administrative proceedings that involve potential revocation, suspension, or disciplinary action against a license.

    • Schools of auctioneering seeking approval must submit an application that includes information about the school's name, director, physical and email addresses, website, instructors, and curriculum.

    • The curriculum for approved schools must include a minimum of 80 hours of classroom instruction in subjects such as bid calling, marketing, auctioneers' law and regulations, and ethics, as well as supplemental instruction in areas such as antiques, firearms, and public speaking.

    • Schools must maintain records of course dates, student information, instructor qualifications, and course instruction hours for five years and provide students who complete the course with a transcript.

    • The Board may deny, suspend, or revoke a school's approval if it fails to meet or maintain requirements or falsifies or misrepresents information.

    • Unlicensed individuals may call bids for training purposes in a Board-approved school under the direct supervision of a licensed auctioneer who is also an instructor.

    • Licensees must notify the Board of any changes to their residence or business address, trade name, assumed name, or combination of names. In the case of corporate or partnership licenses, changes to directors, officers, or partners must also be reported.

    • In the case of an auction firm license, changes to designated persons must be reported. If the designated person is not a licensed auctioneer, they must still comply with certain provisions.

    • Auctioneers must possess truth, honesty, and integrity sufficient to be entitled to the high regard and confidence of the public.

    • The Board evaluates schools' curriculum and instructors for reapproval every two years.

    • The Board may deny, suspend, or revoke a school's approval if it fails to meet or maintain requirements or falsifies or misrepresents information.Rules for Advertising in Auctions

    • All auction-related advertisements must include the auctioneer's, apprentice auctioneer's, or auction firm's name and license number.

    • If an auctioneer is working for or with an auction firm, the relationship must be disclosed, and both license numbers must be given.

    • A general advertisement that does not concern a specific sale or specific sales shall not be subject to any identification requirement.

    • Licensees may advertise under a name, assumed name, trade name, or combination of names only if written notice has been filed with the Board.

    • Advertisements for an "Estate Sale" must disclose whether it is the estate of a living or deceased person.

    • Before conducting an auction as an "estate sale," the majority of items in the sale must come from the estate of the living or deceased person(s).

    • It is a violation to advertise a "Bankruptcy Sale" unless the item(s) offered for sale are from an active bankruptcy action.

    • Before conducting an auction as a "bankruptcy sale," the majority of the items in the sale must come from the bankruptcy of one or more parties.

    • It is a violation to advertise an item, either real or personal, as "Absolute" or "Without Reserve" if the item is subject to confirmation, minimum bid, or any other condition of sale.

    • It is a violation to advertise any auction using such descriptive words as "Urgent," "Emergency," "Distress" or any other word that connotes liquidation of assets or that the buyers will be in a position to reap some unusual bargain without disclosing the reason for the sale.

    • It is a violation to advertise any auction using such descriptive words as "Seized," "Confiscated," "Forfeited," or any other word that connotes a governmental action whereby items are seized or taken by a government department, agency, or commission without disclosing the exact nature of the government action.

    • It is a violation to advertise for sale items that the auctioneer/firm does not intend to offer for sale at the advertised auction.

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    Test your knowledge of North Carolina Auctioneer Licensing Regulations and Rules for Advertising in Auctions with this quiz! From license requirements to advertising restrictions, this quiz will challenge your understanding of the regulations that govern the auction industry in North Carolina. Whether you're an aspiring auctioneer or a seasoned professional, this quiz is a great way to stay up-to-date on the latest rules and regulations. So, put your knowledge to the test and see how well you know the ins and outs of North Carolina's auction industry

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