Minnesota Administrative Rules

1255.0400 AUCTION SALES.

Subpart 1.

General.

Pursuant to Minnesota Statutes, section 16B.08, subdivision 3, surplus personal property may be sold by auction as follows.

Subp. 2.

Notification of auctions.

Persons wishing to be notified of state public auction sales shall contact the State Surplus Property Sales Section, 671 N. Robert, Saint Paul, Minnesota 55101, giving their name and complete address. All interested persons shall be placed on an auction mailing list and shall receive bulletins of all public auctions held by the state. State auctions shall also be advertised in news media at least seven days prior to the sale. News media used may include the Minneapolis and Saint Paul papers and/or local papers in the immediate vicinity of the sale.

Subp. 3.

Auction terms and requirements.

The full amount of the bid price shall be paid at the time of sale for each item selling for less than $500. A minimum of ten percent of the bid price shall be paid at the time of the sale for each item selling for $500 or more. All personal checks shall be accepted for the full amount or the ten percent down on the day of the sale. A successful bidder shall pay any balance due on the sale, including sales tax, within five days from the date of the sale. Such balance due payments shall be in the form of cash, money order, certified check, or bank draft, made payable to the "Minnesota Commissioner of Management and Budget." Full payment shall be received prior to release of merchandise. Failure on the part of the purchaser to remit the balance due on the amount of the bid within five days shall constitute forfeiture of the amount paid at the time of the sale.

Subp. 4.

Application for auctioneers.

All auctioneers interested in providing their services to the state shall submit their name and address to the State Surplus Property Sales Section, 671 N. Robert, Saint Paul, Minnesota 55101. Sealed bid invitations for auctioneering services shall be mailed to all interested persons for each scheduled auction. Contracts for auctioneering services shall be awarded to a qualified, licensed auctioneer based on the bid requirements, and the lowest percentage fee of each sale's proceeds. In the event of tied commission fee bids, auctioneer shall be chosen on the basis of a draw or by bid negotiation.

Statutory Authority:

MS s 16B.04

History:

L 2003 c 112 art 2 s 50; L 2009 c 101 art 2 s 109

Published Electronically:

August 7, 2009