According to Georgia auction law, how must auctions be legally operated?

In Georgia, auctions must be legally operated with a written, signed contract. This requirement ensures that all parties involved have a clear understanding of the terms and conditions of the auction. A written contract provides legal protection and clarity for both the auctioneer and the sellers or buyers involved. It outlines aspects such as commissions, payment terms, and auction procedures, which are essential for avoiding disputes and ensuring that all parties uphold their responsibilities.

Written contracts also strengthen transparency and accountability in transactions, as they can serve as evidence in case of disagreements or legal issues. Handshake deals and verbal agreements, while historically common in business practices, lack the enforceability and clarity that a written contract provides. Similarly, a temporary license is not related to the operation of an auction itself but rather pertains to the qualification of the auctioneer. Thus, the requirement for a written, signed contract aligns with legal standards and best practices in the auction industry.