Re: auction 'buy backs'
The rules can vary from state to state, but most states have a similar provision in their Uniform Commercial Code to this provision in the Oklahoma Code regarding auctions.
"... (4) If the auctioneer knowingly receives a bid on the seller's behalf or the seller makes or procures such a bid, and notice has not been given that liberty for such bidding is reserved, the buyer may at his option avoid the sale or take the goods at the price of the last good faith bid prior to the completion of the sale. This subsection shall not apply to any bid at a forced sale."
Does the Barrett Jackson bidder agreement give notice that buyers may be bidding on their own cars?
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