Auctioneer Exam
Auction - ANSmethod of sale of real or personal property, goods, or chattels, at a
predetermined date and time, by means of verbal exchange, regular mail,
telecommunications, the internet, an electronic transmission, or a physical gesture between
an auctioneer and members of the audience
Auctioneer - ANSany person who engages or who by advertising or otherwise holds the
person out as being able to engage in the calling for recognition of and the acceptance of
offers the purchase of real or personal property goods or chattels at auction either directly or
through the use of other licensed auctioneers or apprentice auctioneers .
apprentice auctioneer - ANSany individual who is sponsored by an auctioneer to deal or
engage in any activities mentioned in division A or this section
special auctioneer - ANSany person who currently is subject to section 4707.071 of the
revised code
absolute auction - ANSand auction of real or personal property to which all of the following
apply
1. the property is sold to the highest bidder without reserve
2. The auction does not require a minimum bid.
3. The auction does not require competing bids of any type by the seller or an agent of the
seller.
4. The seller of the property cannot withdraw the property from the auction after the auction
is opened and there is public solicitation or calling for bids.
Reserve auction - ANSand auction in which the seller or an agent of the seller reserves the
right to establish a stated minimum bid the right to reject or accept any or all bids or the right
to withdraw the real or personal property at any time prior to the completion of the auction by
the auctioneer.
Auction mediation company - ANSa company that provides a forum through the internet for a
person to sell the person real or property via the submission of silent bids using a computer
or other electronic device .
Public authority - ANSany board or commission of the state or any officer or such a board or
commission or any political subdivision of the state.
Estate auction - ANSthe auction of real or personal property of a deceased person .
Absentee bidding - ANSthe method by which a potential purchaser authorizes a proxy to
place on behalf of the potential purchaser a written or oral bid to an auctioneer or auction
firm or an agent of an auctioneer or auction firm
Auction - ANSmethod of sale of real or personal property, goods, or chattels, at a
predetermined date and time, by means of verbal exchange, regular mail,
telecommunications, the internet, an electronic transmission, or a physical gesture between
an auctioneer and members of the audience
Auctioneer - ANSany person who engages or who by advertising or otherwise holds the
person out as being able to engage in the calling for recognition of and the acceptance of
offers the purchase of real or personal property goods or chattels at auction either directly or
through the use of other licensed auctioneers or apprentice auctioneers .
apprentice auctioneer - ANSany individual who is sponsored by an auctioneer to deal or
engage in any activities mentioned in division A or this section
special auctioneer - ANSany person who currently is subject to section 4707.071 of the
revised code
absolute auction - ANSand auction of real or personal property to which all of the following
apply
1. the property is sold to the highest bidder without reserve
2. The auction does not require a minimum bid.
3. The auction does not require competing bids of any type by the seller or an agent of the
seller.
4. The seller of the property cannot withdraw the property from the auction after the auction
is opened and there is public solicitation or calling for bids.
Reserve auction - ANSand auction in which the seller or an agent of the seller reserves the
right to establish a stated minimum bid the right to reject or accept any or all bids or the right
to withdraw the real or personal property at any time prior to the completion of the auction by
the auctioneer.
Auction mediation company - ANSa company that provides a forum through the internet for a
person to sell the person real or property via the submission of silent bids using a computer
or other electronic device .
Public authority - ANSany board or commission of the state or any officer or such a board or
commission or any political subdivision of the state.
Estate auction - ANSthe auction of real or personal property of a deceased person .
Absentee bidding - ANSthe method by which a potential purchaser authorizes a proxy to
place on behalf of the potential purchaser a written or oral bid to an auctioneer or auction
firm or an agent of an auctioneer or auction firm
