When must auctioneers settle a sale?

Auctioneers are required to settle a sale within 48 hours of the sale to ensure promptness and reliability in the auction process. This timeline allows both the seller and buyer to have clarity and resolve any issues related to the transaction quickly. Timely settlement helps maintain trust in the auction system, ensuring that all parties involved have a clear understanding of their obligations and rights following the acquisition of goods. Additionally, adhering to a 48-hour window aligns with standard industry practices and regulations, promoting professionalism in the auctioneering business.