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6 TEXAS Auctioneer Exam 1.Auction ANS method of sale of real or personal property, goods, or chattels, at a predetermined date and time, by means of verbal exchange, regular mail, telecom- munications, the internet, an electronic transmission, or a physical gesture between an auctioneer and members of the audience 2.Auctioneer ANS any person who engages or who by advertising or otherwise holds the person out as being able to engage in the calling for recognition of and the acceptance of offers the purchase of real or personal property goods or chattels at auction either directly or through the use of other licensed auctioneers or apprentice auctioneers .
3.apprentice auctioneer ANS any individual who is sponsored by an auctioneer to deal or engage in any activities mentioned in division A or this section 4.special auctioneer 1 / 2
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6 ANS any person who currently is subject to section 4707.071 of the revised code 5.absolute auction ANS and auction of real or personal property to which all of the following apply 1.the property is sold to the highest bidder without reserve 2.The auction does not require a minimum bid.
3.The auction does not require competing bids of any type by the seller or an agent of the seller.
4.The seller of the property cannot withdraw the property from the auction after the auction is opened and there is public solicitation or calling for bids.
6.Reserve auction ANS and auction in which the seller or an agent of the seller reserves the right to establish a stated minimum bid the right to reject or accept any or all bids or the right to withdraw the real or personal property at any time prior to the completion of the auction by the auctioneer.
7.Auction mediation company ANS a company that provides a forum through the internet for a person