On this page you’ll find information about the penalties for auction industry-related offences. These fines are for individuals—corporations could face up to 5 times the maximum penalty.
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These offences relate to your appointment to act on behalf of clients.
Offence
Maximum penalty
Acting for a client without a written appointment to act (except for livestock auctions)
$33,380
Not giving the client a copy of the written appointment to act (including if you have a non-mandatory written appointment for a livestock auction)
$33,380
Acting as an auctioneer of real property (or real estate) on behalf of someone, without a valid appointment on the approved form
$33,380
Acting as a chattel auctioneer on behalf of someone, without a valid appointment on the approved form
$33,380
Acting as a chattel auctioneer in a livestock auction on behalf of someone, without a valid appointment on the approved form (when appointed in writing)
$33,380
These offences relate to your auditor's actions and audit reports.
Offence
Maximum penalty
Failing to appoint an auditor
$33,380 or 1 year imprisonment
Failing to lodge an audit report within the time limit
$33,380 or 2 years imprisonment
Failing to lodge an audit report on ceasing to be licensee or within 2 months of continuing business
$33,380 or 2 years imprisonment
Auditor does not immediately file advice of irregularities to the Chief Executive, Office of Fair Trading (OFT)
$33,380 or 1 year imprisonment
Auditor fails to notify the Chief Executive, OFT, when denied access to other records
$33,380 or 1 year imprisonment
Auditor fails to supply a report to the licensee
$33,380 or 1 year imprisonment
These offences relate to mandatory disclosures.
Offence
Maximum penalty
Disclosing a price guide for a real property (or real estate) to bidders or potential bidders
$90,126
Disclosing the reserve price for a real property to bidders or potential bidders (except to announce that the reserve price has been met)
$90,126
Offering or providing a comparative market analysis for a real property to bidders or potential bidders without the seller's approval
$90,126
Not displaying the name of the auctioneer or chattel auctioneer at the start of an auction (except when exempted under the Motor Dealers and Chattel Auctioneers Act 2014 or the Property Occupations Act 2014)
$16,690
Not announcing the name of the auctioneer or chattel auctioneer at the start of an auction (when exempted from displaying the name)
$16,690
Not announcing the name of the client for whom the auctioneer is selling livestock in a livestock auction (except for online auctions)
$1,669
Not displaying the name of the client for whom the auctioneer is selling livestock in an online livestock auction
$1,669
Charging a buyer's premium on goods connected to a real property without getting the consent of the owner and/or not disclosing a buyer's premium is payable on goods
$33,380
Inspectors have the legal authority to make sure you don't break the law—you must follow their lawful directions or risk a fine.
These offences relate to non-compliance with inspectors.
Offence
Maximum penalty
Obstructing an inspector or failing to produce documents or provide information to an inspector
$33,380 or 1 year imprisonment
Failing to give your name and address to an inspector
$8,345
These offences relate to your licence.
Change of licence details
Offence
Maximum penalty
Failing to advise the Office of Fair Trading in writing within 14 days about changes to any aspect of your licence, including your personal details
$16,690
Producing a licence on request
Offence
Maximum penalty
Failing to show a licence—or a copy of a staff member's licence—to an inspector on request
$33,380
Failing to show a copy of a licence—or a copy of a staff member's licence—to a client or other party (except an inspector) on their request
$16,690
Substitute licensees
Read about the rules you must follow when appointing a substitute licensee to avoid being fined.
Offence
Maximum penalty
Not having the consent and evidence of appointment at the office
$16,690
Not lodging an extension of appointment for more than 30 days
$33,380
Acting as licensee while a substitute is appointed
$33,380
These offences relate to motor vehicle auctions.
Offence
Maximum penalty
A chattel auctioneer doesn't correctly advertise or display an unwarranted vehicle for sale
$16,690
A chattel auctioneer doesn't give a statutory warranty notice on a warranted vehicle immediately after the sale
$16,690
Failure to record the particulars of an extension to the warranty period
$16,690
Failure to repair defects within 14 days
$33,380
A chattel auctioneer doesn't guarantee clear title (no encumbrances) of a motor vehicle
$33,380
A chattel auctioneer doesn't announce immediately before the auction that the vehicle is unregistered and written-off
$16,690
These offences relate to your place of business.
Offence
Maximum penalty
Not having a licensee in charge of your place of business
$33,380
Being a person in charge at more than 1 place of business
$33,380
Failing to advise the Office of Fair Trading within 14 days of changing, opening or closing your principal place of business
$33,380
These offences relate to your records.
Offence
Maximum penalty
Failing to keep an auction store book and auction sales book onsite at the registered office (chattel auctioneers)
$1,669
Failing to enter relevant details of acquired goods into an auction store book
$1,669
Failing to enter relevant details of auction transactions into an auction sales book within 24 hours of the auction
$1,669
Failing to enter relevant details into a livestock auction book if conducting livestock auctions
$1,669
These penalties apply if you've been convicted of a serious offence.
Offence
Maximum penalty
Failing to return your licence to the Office of Fair Trading within 14 days after being convicted of a serious offence and having your licence cancelled
$16,690
It is in an offence to steal or misuse trust monies. You risk a fine and imprisonment if you break the law.
These offences relate to dealing with trust accounts.
Offence
Maximum penalty
Wrongful conversion (or unauthorised use of money) and falsifying accounts
$166,900 or 5 years imprisonment
Unauthorised use of a trust account
$33,380 or 2 years imprisonment
Not banking trust monies immediately into a trust account
$33,380 or 2 years imprisonment
Banking non-trust monies into a trust account
$33,380 or 1 year imprisonment
Not providing a financial account to the client
$33,380 or 2 years imprisonment
Unlicensed work as an auctioneer or chattel auctioneer is against the law. These offences relate to unlicensed work.
Offence
Maximum penalty
Working unlicensed
$33,380 or 2 years imprisonment
Buying, selling, hiring out, borrowing or lending a licence
$33,380 or 2 years imprisonment
Enforceable undertaking
An enforceable undertaking is an alternative to court action. It is a legally binding agreement between a business and the Office of Fair Trading that the business won’t keep breaking the law.
