Code of Ethics

The Statement of Purpose

  • To provide a means by which the members of the auction profession may coordinate their efforts for the advancement of their profession and/or services relevant to the auction industry.
  • Establish the highest standards of business ethics among its members. Develop and promote equitable trade practices and high standards of ethics in the auction profession.
  • Develop through responsible promotion, new understanding and wider acceptance for the auction method of selling.
  • Improve the efficiency of service performed by all segments of the industry.
  • Collect information relating to the auction profession and disseminate such information to the public and to members of the Association.
  • Represent and act for the auction profession before all departments and agencies of the State of Oklahoma and other public and private organizations whose activities affect the profession
  • Contribute to the progress and advancement in every lawful manner and do lawful acts and things to promote the welfare of the auction profession.

The auction business is said to be the medium through which the lifeblood of the nation attains greater momentum and brings to the nation greater balance, prosperity and stability. It chases the ghost out of the ghost town. It brings hope, confidence and joy to individuals and communities. It turns the loss of an unsold business into profit for both seller and buyer. The Auctioneer should ever hold aloft the dignity and importance to the nation of his profession. He should never lose sight of his personal and professional integrity, his great responsibility and his sense of patriotism.

The auctioneer realizes that his profession is both competitive and co-operative and that he shares with others a common responsibility for its honor and that be being true to himself, he is true to all men.

With these principles ever before him, the Auctioneer pledges himself to their observance and to conduct his business in conformity to the following Code of Ethics adopted by the Oklahoma State Auctioneers Association.

CODE OF ETHICS

PART I

  • Professional Relations
    • Article 1 In the best interest of the public, of his fellow Auctioneers and of his own business, the Auctioneer should be loyal to the Oklahoma State Auctioneers Association.
    • Article 2 The Auctioneer should so conduct his business as to avoid disputes with his fellow Auctioneers, but in the event of a controversy between two Auctioneers who are members of the Oklahoma State Auctioneers Association, he should not resort to a law suit, but submit his differences to arbitration by the Oklahoma State Auctioneers Association, and the decision of such arbitration should be accepted as final and binding. If the dispute should be with a non-member, he should offer the services of this Board to arbitrate.
    • Article 3 Where a member is charged with unethical practice, he should promptly and voluntarily place all the pertinent facts before the proper committee for investigation and report.
    • Article 4 A member should never publicly criticize a competitor, and where an opinion is specially requested, it should be rendered in conformity with strict professional courtesy and dignity.
    • Article 5 A member should not solicit the services of an employee of a fellow Auctioneer without his knowledge and consent.
    • Article 6 In the best interest of society, of his associates, and of his own business, the Auctioneer should at all times be loyal to the Oklahoma State Auctioneers Association and active in its work; and he should willingly share with his fellow members the lessons of his experience

PART II

  • Relations to Clients
    • Article 7 In justice to those who place their interests in hi hands, the Auctioneer should endeavor to keep abreast of business conditions, to keep informed in matters of law and proposed legislation affecting such interest, so as to give intelligent business advice and effective service.
    • Article 8 In accepting the sale of real or personal property, the member pledges himself to be fair to both seller and buyer, and to protect the owner’s interest as he would his own.
    • Article 9 When consulted for an appraisal of value or liquidation problem, a member should give a well considered opinion, reflecting expert knowledge and sound judgment, taking requisite time for study, inquiring and deliberation. His counsel represents a professional service which he should render in writing and for which he should made a reasonable charge. A member should not undertake to give an appraisal or offer an opinion, on any proposition on which he has a direct or even indirect interest, without a full disclosure of such interest.
    • Article 10 Before accepting a sale it is the duty of the Auctioneer to advise the owner intelligently and honestly regarding the market value of the business or proposition and the reasonable chance of selling at value or above.

PART III

  • Relations to the Public
    • Article 11 It is the duty of every member to protect the public against fraud, misrepresentation or unethical practices in connection with the sale, disposal or liquidation of any real or personal property the Auctioneer is called upon to dispose of at public auction.
    • Article 12 It is the duty of a member to ascertain all pertinent fact concerning every sale for which he is engaged, so that in offering he may avoid error, exaggeration and misrepresentation.
    • Article 13 An auctioneer is a confidential trustee of the information given by the seller or gained by him through relationship, and the Auctioneer must never disclose the gross receipts of a sale or any information that would tend to be a violation of the profession.
    • Article 14 No special conditions, real or assumed, or inducements or directions from anyone relieve the member from his responsibility strictly to observe the Code of Ethics in letter and spirit.