Lawriter - OAC - 901:8-3-07 Mandatory curriculum for approved auction schools.

901:8-3-07 Mandatory curriculum for approved auction schools.

(A) Actual classroom hours must consist of a minimum of eighty hours over a period of no less than ten days. Sale observation time shall not be considered actual classroom hours.

(B) The mandatory courses required by the commission total sixty-five hours.

The total number of hours required for each course is encapsulated in parenthesis. The remaining classroom hours shall be courses of the school's choice; however, the commission shall be informed as to what those courses will be. The following courses are the mandatory curriculum for all auction schools:

(1) Ohio laws pertaining to auctions (ten hours):

(a) Resources: how and where to obtain specific information; and

(b) Ohio laws, including, but not limited to, section 1302.41 of the Revised Code, Chapter 4707. of the Revised Code, and Chapter 901:8-2 of the Administrative Code.

(2) Federal and local laws pertaining to auctions (four hours), including two hours specific to firearms law:

(a) Resources: how and where to obtain specific information; and

(b) Federal law and local laws including, but not limited to, firearms.

(c) ATF investigators and ATF approved programs shall be used to instruct class, wherever they are available.

(3) Ethics and professionalism (four hours):

(a) Developing a positive reputation;

(b) Auctioneer's agency relationship with owners, consignors, and bidders;

(c) How to execute a bid including absentee bids, bid rigging, and reserves; and

(d) Personal image including professional appearance, posture and body language, and maintaining a professional auction staff.

(4) Auction marketing and promotion (nine hours):

(a) Developing professional contacts, including attorneys, bankers, and others;

(b) Marketing techniques and self-promotion, including websites, brochures, and fliers; and

(c) Auction advertising.

(5) Contracts and legal (four hours):

(a) Statutory requirements of the auction contract;

(b) Contractual relationships associated with auctions;

(c) Legal documents, including bills of sale, deeds, and other conveyances; and

(d) Uniform Commercial Code and tax liens.

(6) Evaluating real or personal property (two hours):

(a) Types of evaluations and their respective techniques;

(b) Obtaining and understanding evaluation resources;

(c) Evaluation formats; and

(d) Development of product knowledge.

(7) Consignment auction (two hours):

(a) Location and zoning requirements;

(b) How to obtain consignments, including, telephone and personal visits;

(c) Inventory controls; and

(d) Legal requirements pertaining to consignment auctions.

(8) General business practices (two hours):

(a) Understanding different types of business entities;

(b) Employee and employer responsibilities;

(c) Independent contractors;

(d) Tax implications;

(e) Liability;

(f) Insurance; and

(g) Reporting requirements.

(9) Real estate at auction (two hours):

(a) Required licenses and applicable laws;

(b) Advantages of auction versus private listing;

(c) Auction types; and

(d) Required documents.

(10) Public speaking and public address system (one hour), including correct use of the public address system and public speaking.

(11) Accounting procedures (three hours):

(a) Record keeping, both manually and electronically;

(b) Cashiering and clerking an auction, both manually and electronically; and

(c) Settlement sheets.

(12) Working the ring and the responsibilities and limitations of the ring personnel (one hour).

(13) Bid calling (twenty hours):

(a) Techniques;

(b) Lip exercises;

(c) Breathing exercises;

(d) Filler words;

(e) Practice; and

(f) Power of persuasive selling.

(14) Internet auctions (one hour):

(a) Difference between internet and live auctions; and

(b) How to conduct a live auction in conjunction with internet auction.

(C) Students shall have the opportunity to practice after classroom hours if they wish. The required hours shall be spread over the entire period of the required ten days. Participation in a live auction is permitted under Ohio law and may be implemented as part of an approved school's curriculum.

Effective: 7/4/2015
Five Year Review (FYR) Dates: 04/10/2015 and 07/04/2020
Promulgated Under: 119.03
Statutory Authority: 4707.04 ; 4707.19
Rule Amplifies: 4707.04
Prior Effective Dates: 08/11/2008, 05/20/2010