True or False: An auctioneer can represent both the seller and the buyer if full disclosure is made.

The statement is true because auctioneers can represent both the seller and the buyer, provided there is full disclosure about this dual representation to all parties involved. This practice is known as dual agency and is allowed as long as the auctioneer clearly communicates their role to both the buyer and seller, ensuring that both parties understand the implications of the arrangement.

In situations where an auctioneer represents both sides, it is crucial that the auctioneer maintains transparency regarding their commission and any potential conflicts of interest that may arise. This accountability builds trust among the parties involved and ensures compliance with ethical standards and legal regulations governing auction practices.

In contrast, the other options suggest limitations or outright prohibitions on dual representation, which do not align with the principles of disclosure and agency present in auctioneering. Thus, the correct understanding confirms that as long as all parties are informed, the auctioneer can indeed act for both the seller and the buyer.