Section 1440.230  Advertising; Buyer Premium; Disclosure

a)         A licensee under the Act shall clearly disclose on any advertisement:

1)         the licensee's name; if a licensee uses an assumed name or d/b/a, the licensee shall register that name with OBRE, pursuant to Section 1440.200 of this Part;

2)         the licensee's license number, as assigned by OBRE;

3)         the name of the city, village or town, and state, in which the licensee or the licensee's business is located;

4)         the licensee's telephone number; and

5)         the terms and conditions of the auction, to the best knowledge of the licensee at the time of printing, taping or production of the advertisement.

b)         A licensee under this Act shall clearly announce before the auction the terms and conditions of the auction, and shall disclose any differences in the terms and conditions of the auction from any previous advertisement for the auction.

c)         If a licensee under the Act conducts an auction or provides an auction service in which a buyer premium is charged or collected, the licensee shall:

1)         clearly disclose on any advertisement that there is a buyer premium charged and the terms of the buyer premium;

2)         clearly post at the auction site that there is a buyer premium charged and the terms of the buyer premium; and

3)         clearly announce during the terms and conditions of the auction that there is a buyer premium charged and the terms of the buyer premium.