Advertising Guidelines

(1) Advertising in any form that is designed to give notice of an upcoming auction must include the name and license number of the principal or public automobile auctioneer responsible for holding the sale. (2) False, deceptive, misleading and untruthful advertising is expressly prohibited. Any advertisement or advertising shall be deemed to be false, deceptive, misleading or untruthful if it: (a) Contains a misrepresentation of fact. (b) Is misleading or deceptive because in its content or, in the context in which it is presented, it makes only a partial disclosure of relevant facts. (c) Creates a false or unjustified expectation of the services to be performed. (d) Contains any representation or claim that the advertising licensee in bad faith fails to perform. (e) Advertises any auction using such descriptive words as “Urgent,” “Emergency,” “Distress,” or any other word which connotes a liquidation of assets or that the buyers will, for some extraordinary reason, be in a position to reap some unusual bargain, without specifically disclosing the reason that the sale is “urgent,” the nature of the “emergency” or the cause of the “distress.” In a written advertisement, the reason, nature, and cause shall be set forth in a print size equal to the descriptive word used. (f) Advertises any auction using descriptive words such as “Seized,” “Confiscated,” “Forfeited,” or any other word which connotes a governmental action; the sale of items seized or taken by a government department, agency or commission; or that buyers will for some governmental reason be in a position to reap some unusual bargain, without specifically disclosing the exact nature of the governmental action. In a written advertisement, the nature of the governmental action shall be set forth in a print size equal to the descriptive word used. (g) Advertises in bad faith an item for sale that the principal or public automobile auctioneer does not intend to offer for sale at the auction being advertised. (3) Advertising for a sale at which some items will be auctioned with reserve and some items will be auctioned without reserve shall clearly and conspicuously indicate this fact to the public. In written advertisements for such a sale, the font size, style and case of the type used in publicizing the part of the sale to be held without reserve shall not differ from the font size, style and case used to publicize the part of the sale to be held with reserve. (4) Any advertising or advertisement purporting or suggesting that an auction sale is being held in conjunction with or as a result of a bankruptcy proceeding, or that items to be sold at auction were previously purchased in connection with a bankruptcy proceeding, shall contain the bankruptcy court case number assigned by the court of jurisdiction for such proceeding. REGULATIONS OF AUCTIONEERS CHAPTER 0160-01 (5) A principal or public automobile auctioneer shall not permit his or her name or license number to appear on any advertisement not in compliance with Tennessee Code Annotated, Title 62, Chapter 19 et seq. (Auctioneer Licensing Law) and the Rules of the Tennessee Auctioneer Commission.