Selling personal property at auction (ARCHIVED)
This document has been archived and is available on isurv for information purposes only.
The emergence of personal property/art and antiques as an important and valued asset has brought substantial attention to auction houses. Today, sales records are continually being broken at our auctions. It is not unusual for works of art, antiques, jewellery or collectibles to realise multi-millions of dollars on a daily basis at auction. This immense international market is also one of the most unregulated areas of commerce existing today. This guidance note intends to enhance and secure public trust, a primary directive for RICS and one of its core values.
Topics covered include:
- before the sale
- pre-auction
- the sale
- after the sale
- post-auction
- property governed by special statutes
- conditions of business
- statutes
- cataloguing practice
- legal responsibilities