NC Auctioneer study materials
NC Auctioneer study resources

NC Auctioneer case studies

NC Auctioneer · Put your knowledge to work in context.

The North Carolina auctioneer license is the credential the state requires before a person may call bids for hire or otherwise conduct auctions in North Carolina. It is aimed at people entering the auction business, at estate, equipment, livestock, and real property auction practitioners, and at allied professionals such as brokers and appraisers who want to run sales themselves rather than contract them out. Candidates should confirm current eligibility, application, and licensing requirements with the North Carolina Auctioneer Licensing Board, which administers the license and publishes the authoritative rules. The examination samples the whole regulatory picture rather than one specialty. The NC Auctioneer case studies are 5 cases and about 2,727 words.

1

Expired License, Apprentice Bid Calling, and a Charity Auction

Blue Ridge Auction Co. holds a valid North Carolina auction firm license.

600 words, about 3 min
2

Executor-Auctioneer Buys Through Family

Clay, a licensed auctioneer and sole owner of a firm, is executor of his aunt's estate. The estate signs his firm's standard contract: 10% commission, no buyer's premium, settlement within 14 days.

573 words, about 3 min
3

Reserve Price and the Auctioneer's Knockdown

North State Equipment Auctions contracts with consignor Rivera to sell a 2021 skid steer. The written contract sets a reserve of 18,000, states 'auctioneer may not sell below reserve without consignor's written approval,' and sets an 8% seller commission.

525 words, about 3 min
4

Commingled Estate Auction Funds

Carolina Legacy Auctions conducts a two-consignor estate auction. The written contracts require settlement within 10 business days after the sale.

487 words, about 2 min
5

Absolute Auction Ad, Undisclosed Reserve, and a Buyer's Premium Surprise

Piedmont Realty & Auction advertises a 12-acre farm with a house as 'ABSOLUTE AUCTION - SELLS TO THE HIGHEST BIDDER REGARDLESS OF PRICE.' The ad lists the firm name but no license number and no buyer's premium. The written listing agreement with seller Hayes contains a 290,000 reserve and a seller-confirmation clause.

542 words, about 3 min