The public auction subjects all possessions to equitable public appraisal and competitive offer and thereby determines fair and current value of all personal goods and estates.

Auctioneers are masters of procedure and conduct of the public auction. Auctioneers are confidants of the public and instrumentality of community progress and development. Such functions impose grave responsibilities and duties beyond ordinary business policy to which members must dedicate themselves. Members must strive to maintain the highest standards of the profession and share with fellow Auctioneers a common responsibility for integrity and honor.

Auctioneers will conduct business in accordance with the following Code of Ethics adopted by National Auctioneers Association. 


Article 1. In the best interest of the public, of fellow Auctioneers and of their own business, Auctioneers should be loyal to National Auctioneers Association.

Article 2. Auctioneers should so conduct their business as to avoid disputes with fellow Auctioneers, but in the event of a controversy between two Auctioneers who are members of National Auctioneers Association, they should not resort to a lawsuit, but submit their differences to arbitration by National Auctioneers Association, and the decision of such arbitration should be accepted as final and binding. If the dispute should be with non-members, the members should offer the services of this Board to arbitrate.

Article 3. Where members are charged with unethical practice, they should promptly and voluntarily place all the pertinent facts before the proper committee for investigation and report.

Article 4. Members should never publicly criticize a competitor, and where an opinion is especially requested, it should be rendered in conformity with strict professional courtesy and dignity.

Article 5. Members should not solicit the services of an employee of a fellow Auctioneer without the fellow Auctioneers knowledge and consent.

Article 6. In the best interest of society, of the members' associates, and of the members' own business, Auctioneers should at all times be loyal to National Auctioneers Association and active in its works; and should willingly share with fellow members the lessons of their experience.


Article 7. Injustice of those who place their interests in the members' hands, Auctioneers should endeavor to keep abreast of business conditions, to keep informed in matters of law and proposed legislation affecting such interests, so as to give intelligent business advice and effective service.

Article 8. In accepting the sale of real or personal property, members pledge to be fair to both seller and buyer, and to protect the owners' interest as they would their own.

Article 9. When consulted for an appraisal of value or liquidation problem, members should give a well considered opinion, reflecting expert knowledge and sound judgment, taking requisite time for study, inquiry and deliberation. The members' counsel represents a professional service that they should render in writing and for which they should make a reasonable charge. Members should not undertake to give an appraisal or offer an opinion on any proposition on which they have a direct or even indirect interest, without a full disclosure of such interest.

Article 10. Before accepting a sale it is the duty of Auctioneers to advise the owner intelligently and honestly regarding the market value of the business or proposition and the reasonable chance of selling at value or above.


Article 11.  It is the duty of every member to protect the public against fraud, misrepresentation or unethical practices in connection with the sale, disposal or liquidation of any real or personal property Auctioneers are called upon to dispose of at public auction.

Article 12. It is the duty of members to ascertain all pertinent facts concerning every sale for which they are engaged, so that in offering members may avoid error, exaggeration and misrepresentation.

Article 13. Auctioneers are confidential trustees of the information given by the seller or gained by them through relationship, and Auctioneers must never disclose the gross receipts of a sale or any other information that would tend to be a violation of the profession.

Article 14. No special conditions real or assumed, or inducements or directions from anyone relieve the member from responsibility strictly to observe the Code of Ethics in this letter and spirit.