S.L. 342.1 ст. 7The auction.

(1) An auction shall be conducted by the auctioneer specified in the catalogue referred to in regulation 4: Provided that where the auction is to be conducted by an auctioneer other than the auctioneer notified in the catalogue, notice to that effect shall be given to the public attending the auction at the commencement of the auction on each of the auction days and a written notice to the same effect shall be prominently displayed at the place of auction throughout the auction days.

(2) An auctioneer shall auction all the lots entered in the catalogue in the order set down therein.

(3) An auctioneer shall identify each lot to be auctioned by the lot number and description of the lot as generally set out in the auction catalogue.

(4) An auctioneer shall not himself or through any other person acting on the same auctioneer’s behalf place bids, and an auctioneer shall not in any way buy lots at an auction being conducted by himself.

(5) An auctioneer shall not bid or buy, directly or indirectly, at his auctions for any other person.

(6) An auctioneer shall not take account of a bid unless it is made clearly and publicly.

(7) An auctioneer shall not raise the price of a lot until and unless a genuine higher bid has been made by a bidder.

(8) An auctioneer shall knock down the lot if, after repeating the last bid three times, no further bids are made.

(9) An auctioneer shall either assign the lot to the highest bidder making the last bid, or shall, subject to the provisions of regulation 8, remove the lot from the auction by declaring it as "bought in".