AUCTIONEERS' ACT PROVISIONS.

Dominion, Volume 4, Issue 1018, 6 January 1911, Page 4

AUCTIONEERS' ACT PROVISIONS.

» QUESTION OF THE HIGHEST BID. (By Telegraph.—Special Correspondent.) Christchurch, Jannary 5. Tho Auctioneers Act, which makes.it imperative for auctioneers to accept the highest bid, irrespective of whether the bidder is ill the trade or a private buyer, came into operation from January 1, and a "News" reporter waited on some of the auctioneers of this city to ascertain what the effect of the measure would be locally. The consensus of opinion was that it was a gross injustice to the producer, if the auctioneer was compelled to decline bids from outside persons. Most of those auctioneers waited on explained that the Act would have very little effect on them as they had always been in tho habit of .•accepting the '.highest bid no matter who tho purchaser was. i One auctioneer who has had experience of both tho open bidding and that of the trade only, was most emphatic about the unfairness of the latter system., "Many . a time," he said, "I have been auctioneering fruit, when the man who has grown it has been/standing by. Perhaps a fruiterer has bid mess. for it, and another man, hot connected with the trade, has put the price up to Gs., and. I have been compelled to accept the lower bid. It 1 isn't a fair thing at all, for the man who has produced the fruit, is it? This state of affairs has not existed for some time now though, most of tho auction rooms selling,to the man who will pay the highest moneyc.on.the:'spot. The system lent itself to abuse in another way. Perhaps a ring of, say, six buyers, would put their heads that only one of their number should bid on a certain day for a' certain product. Where did tho competition come in ? Tho solitary bidder could name his own price, and I had to take it or buy in myself,'ah.d ; perhaps have 'a lot of stuff, thrown on my hands. It is an absolute absurdity having an auctioneer's license and then boycotting competition."