TITLE II: Public auction sales.

Only persons meeting the conditions mentioned in 1° to 3° of I of article L. 321-4 are authorised to direct the sale, to designate the last bidder as the successful bidder or to declare the property not awarded and to draw up the minutes of this sale. The minutes are drawn up no later than one clear day after the close of the sale. It shall mention the name and…

The operators referred to in Article L. 321-4 shall keep a daily register pursuant to Articles 321-7 and 321-8 of the Penal Code as well as a directory in which they record their minutes. They must keep this register and directory in electronic form, under conditions defined by decree. This register and directory may be grouped together. .

The reserve price is the minimum price agreed with the seller below which the property may not be sold. If the property has been estimated, this price may not be set higher than the lowest estimate appearing in the advertisement, or publicly announced by the person conducting the sale and recorded in the minutes. Article L. 442-5 is applicable to any seller who habitually resells new goods in their original…

An operator of voluntary sales of movable property by public auction mentioned in Article L. 321-4 may guarantee the seller a minimum auction price for the property offered for sale. If the property has been estimated, this price may not be set at an amount higher than the lowest estimate mentioned in article L. 321-11. If the guaranteed minimum bid price is not reached at the auction, the operator is…

An operator of voluntary sales of movable property by public auction mentioned in article L. 321-4 may grant the seller an advance on the auction price of the property offered for sale.

The operators of voluntary sales of furniture by public auction mentioned in Article L. 321-4 are liable to the seller and the buyer for the representation of the price and the delivery of the goods for which they have conducted the sale. Any clause that seeks to exclude or limit their liability is deemed to be unwritten. The auctioned goods may only be delivered to the buyer when the operator…

I.-It is punishable by two years’ imprisonment and a fine of 375,000 euros to carry out or cause to be carried out one or more voluntary sales of furniture by public auction: 1° If the operator organising the sale has not made the prior declaration provided for in Article L. 321-4 or is subject to a temporary or permanent ban on carrying out the activity of voluntary sales of furniture…

The operators of voluntary sales of furniture by public auction mentioned in Article L. 321-4 and the public or ministerial officers competent to carry out judicial and voluntary sales, as well as the experts who assist them in the description, presentation and valuation of goods, incur liability during or on the occasion of auctions and sales of furniture by public auction, in accordance with the rules applicable to such sales….