Who does an auctioneer's first agency obligation typically lie with?

An auctioneer’s first agency obligation typically lies with the sellers. This is because the primary role of an auctioneer is to represent the interests of the seller during the auction process. The seller is the person or entity that has entrusted the auctioneer with the responsibility of selling their property or goods, and thus, the auctioneer has a fiduciary duty to act in the seller's best interests.

This obligation includes ensuring that the seller's terms of sale are adhered to, providing accurate representations of the items being auctioned, and maximizing the sale price. The auctioneer must also prioritize the seller's interests over those of buyers or any other parties involved in the auction. By maintaining this duty, the auctioneer fosters a professional relationship with the seller, which is essential for building trust and ensuring a successful auction outcome.