Accepting 'commission bids' — that is, bids placed by the auctioneer1 on behalf of an absent bidder up to a pre-agreed maximum — creates an obvious potential conflict of interest2 since the auctioneer is then acting for two parties whose interests are antithetical. Most auctioneers do accept commissions to bid for potential buyers and this will be unobjectionable only if the consent, actual or tacit, of the seller is obtained
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234