Posted By:
CoreyRS.hanusLeon,
Paragraph 3 of the Terms of Sale states "The auctioneer reserves the right to reject any bid or raise which, in the auctioneer's opinion, is not commensurate with the value of the lot being offered". Paragraph 8 says "Title of each lot passes when the auctioneer says 'SOLD'" (Capital letters of the word "sold" provided by Hunt). What this says to me is that the auctioneer hammering the lot is not sufficent. He must also say "sold".