A legit auction house should be bonded and insured so that you are covered if something like this ever happens.
I have been doing weekly/monthly auctions for the past 23 years and always carried insurance at the very least. When I got an auctioneers license about 10 years ago, I was required to be bonded as well (most states that license auctioneers also require bonding).
I don't know New Jersey laws, but if they require licensing to do auctions, you might want to check with the state Division of Standards to file a complaint. If they are doing auctions without a licensed auctioneer present that would be a problem for them as well.
Scott
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