What must be included in the documentation for an auction sale according to regulatory requirements?

In the context of auction sales, regulatory requirements mandate that certain critical information must be documented to ensure transparency and accountability. The inclusion of the name and address of the seller, as well as the date of payment, provides vital details that establish the legitimacy of the transaction. This information serves several purposes: it identifies the parties involved in the sale, ensures that the seller can be contacted for any post-auction concerns, and confirms the specifics of the financial exchange that took place.

Documenting the seller's name and address also helps in maintaining accurate records for both the auctioneer's and the seller's bookkeeping, and it can be crucial should any disputes arise after the auction. As these requirements are aimed at protecting both buyers and sellers, they form an essential part of the regulatory framework governing auctions in Georgia.

Other options, while they may seem relevant, do not encompass the core documentation that regulatory requirements specifically focus on for accountability and traceability in auction transactions.