sec.7Buyer’s premium

### sec.7 Buyer’s premium For section 92 (2) (a) (ii) of the Act , the auctioneer must disclose the percentage of the buyer’s premium payable on the purchase of goods at auction by— including the required statement for the goods in each written advertisement for the auction; and displaying the required statement for the goods in a way likely to be seen by each prospective bidder; and at the start of the auction— if bids may be made in person—announcing the required statement for the goods at the place where bidders may be present at the auction; and if bids may be made online—displaying the required statement for the goods to each person who may bid online during the auction. In this section— required statement , for goods, means a statement that a buyer’s premium of a stated percentage of the purchase price of the goods is payable on a successful bid for the purchase of the goods. (sec.7-ssec.1) For section 92 (2) (a) (ii) of the Act , the auctioneer must disclose the percentage of the buyer’s premium payable on the purchase of goods at auction by— including the required statement for the goods in each written advertisement for the auction; and displaying the required statement for the goods in a way likely to be seen by each prospective bidder; and at the start of the auction— if bids may be made in person—announcing the required statement for the goods at the place where bidders may be present at the auction; and if bids may be made online—displaying the required statement for the goods to each person who may bid online during the auction. (sec.7-ssec.2) In this section— required statement , for goods, means a statement that a buyer’s premium of a stated percentage of the purchase price of the goods is payable on a successful bid for the purchase of the goods. - (a) including the required statement for the goods in each written advertisement for the auction; and - (b) displaying the required statement for the goods in a way likely to be seen by each prospective bidder; and - (c) at the start of the auction— (i) if bids may be made in person—announcing the required statement for the goods at the place where bidders may be present at the auction; and (ii) if bids may be made online—displaying the required statement for the goods to each person who may bid online during the auction. - (i) if bids may be made in person—announcing the required statement for the goods at the place where bidders may be present at the auction; and - (ii) if bids may be made online—displaying the required statement for the goods to each person who may bid online during the auction. - (i) if bids may be made in person—announcing the required statement for the goods at the place where bidders may be present at the auction; and - (ii) if bids may be made online—displaying the required statement for the goods to each person who may bid online during the auction.