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Simple English definitions for legal terms
auctioneer
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A quick definition of auctioneer:
An auctioneer is someone who is allowed to sell things or land for other people in a public auction. They get paid a fee for doing this. The auctioneer works for the owner of the property until someone buys it, then they work for the buyer. They used to be called vendue masters.
A more thorough explanation:
An auctioneer is a person who is legally authorized to sell goods or lands of other people at a public auction for a commission or fee. They act as an agent for the property owner until a purchaser's bid is accepted, at which point they become the purchaser's agent.
For example, if someone wants to sell their antique furniture, they can hire an auctioneer to sell it at a public auction. The auctioneer will advertise the auction, set the starting bid, and conduct the bidding process. Once a bidder wins the auction, the auctioneer will act as their agent to complete the sale.
Another example is a real estate auction. A property owner may hire an auctioneer to sell their property at a public auction. The auctioneer will advertise the auction, set the starting bid, and conduct the bidding process. Once a bidder wins the auction, the auctioneer will act as their agent to complete the sale.
Overall, an auctioneer is an important figure in the buying and selling of goods and property at public auctions.