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Auctions and the CPA

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In my recent read up's about the CPA rules that govern auctions, I have come to learn that Buyers are not given the same right to cancel an auction after the 'hammer' falls, which is counted as a legally binding contract, as compared to when they  complete a buy now sale, which the CPA permits a full refund under certain conditions or timeframe.

Is there anything that would revoke such a law regarding an auction?

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Get It!

I would take a guess, since nobody has responded to this, that there is nothing that can override this rule. 

The simplest way that I know to put this question forward again, is, in the rulebooks of the consumer commission, known as the CPA(consumer protection act), and the ECT(Electronic Communications and Transactions) act, there is a difference in the rules for clients who "buy" an item and clients who "Bid" and win an item. Where a "buy now" client would be protected by the CPA in the sense that, if a cancellation request, for any reason, is submitted within 5 work days of the sale, or receipt of the goods, the buyer should receive a full refund (minus costs incurred by the seller to deliver to the buyer if it was as described) after the buyer returns the goods bought in it's original condition to the seller.

Whereas, a winning bidder at an "auction" would not be permitted to cancel the contract of sale if an item is as described, unless of course, the seller agrees to it.

This essentially means that the auctioneer has to pass the right to cancel a sale to the seller of the item  that was auctioned. Should the seller make a demand for full payment to the buyer, the auctioneer has to request the winning bidder to comply, and not take a decision to cancel a won auction without the sellers consent.

If one would visit any auction house, the auctioneer would request a retainer(deposit) to hold on to, in case the client defaults. Then at least the auctioneer can hold on to it until the client fulfills their obligation.

Is there any article or amendment that would render the difference void?

Please don't hesitate to contribute to this question. It may make a big difference to how matters relating to auctions are dealt with in the future.

hanh and hahn excerpt cpa on auctions.png

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