Use of Auctioneer by Government Body in Indiana

Annotated Indiana Code
Title 5. State and Local Administration
Article 22. Public Purchasing (Second Version)
Chapter 22. Disposition of Surplus Personal Property by a Governmental Body

5-22-22-4 Property exceeding certain value -- Subject to being auctioned.

Sec. 4. (a) If the property to be sold is:
(1) one (1) item, with an estimated value of one thousand dollars ($1,000) or more; or
(2) more than one (1) item, with an estimated total value of five thousand dollars ($5,000) or more;
the purchasing agency may engage an auctioneer licensed under IC 25-6.1 to advertise the sale and conduct a public auction.
(b) The advertising by an auctioneer under this section must include a detailed description of the property to be sold.
(c) The purchasing agency shall pay an auctioneer who conducts a sale under this section from the gross proceeds of the sale received before other expenses and liens are paid.

Cite as Ind. Code Ann. § 5-22-22-4 Annotated Indiana Code