ADVOKS GLOBAL · KENYA
Auctioneers Act
21. Auction sales
Edition: 2022-12-31 · In force
21. Auction sales
(1)The date, time and place of every sale by auction shall be advertised in the prescribed manner and such sale shall take place on the date, at the time and at the place so advertised.(2)Where any movable or immovable property is put up for sale by auction in lots, each lot shall prima facie be deemed to be the subject of a separate contract of sale.(3)It shall be stated in the particulars or conditions of any sale by auction of any property whether such sale shall be subject to a reserve price or not or whether a right to bid is reserved.(4)If it is stated that the sale be without reserve or to that effect, then it shall not be lawful for the seller or any person employed by him to bid at such sale, or for the auctioneer to take knowingly any such bidding:Provided that if it is stated that the sale shall be subject to a right for the seller to bid, then it shall be lawful for the seller or for any person acting on his behalf to bid at such auction.(5)If it is stated that the sale will be subject to a reserve price as regards any one or more lots, it shall be lawful for the seller or any person acting on his behalf to give one bid for each such lot and no more.(6)If the seller or any person acting on his behalf bids at any sale contrary to any of the provisions of this section, any purchaser may refuse to fulfill his purchase:Provided that the highest bona fide bidder shall be entitled, if he shall so elect, to have the property at the price offered by him.(7)No auctioneer shall make a bid either on behalf of himself or as agent for any other person unless on making such bid, he announces that it is his bid.(8)A bidder may retract his bid at any time before the sale is complete.(9)A person who, knowingly—(a)receives or makes any bid contrary to the provisions of this section; or(b)makes a bid which he cannot honour or is fraudulent, or is intended to avoid a valid sale which is subject to the bid,commits an offence.(10)Where a person convicted of an offence under this section is a licensed auctioneer, he shall, in addition to any other penalty imposed, be liable to having his licence revoked.