Idaho State Statutes - Idaho Attorney Directory

(1) In a sale by auction if goods are put up
in lots each lot is the subject of a separate sale.
(2) A sale by auction is complete when the auctioneer so announces by the
fall of the hammer or in other customary manner. Where a bid is made while the
hammer is falling in acceptance of a prior bid the auctioneer may in his
discretion reopen the bidding or declare the goods sold under the bid on which
the hammer was falling.
(3) Such a sale is with reserve unless the goods are in explicit terms
put up without reserve. In an auction with reserve the auctioneer may withdraw
the goods at any time until he announces completion of the sale. In an auction
without reserve, after the auctioneer calls for bids on an article or lot,
that article or lot cannot be withdrawn unless no bid is made within a
reasonable time. In either case a bidder may retract his bid until the
auctioneer's announcement of completion of the sale, but a bidder's retraction
does not revive any previous bid.
(4) If the auctioneer knowingly receives a bid on the seller's behalf or
the seller makes or procures such a bid, and notice has not been given that
liberty for such bidding is reserved, the buyer may at his option avoid the
sale or take the goods at the price of the last good faith bid prior to the
completion of the sale. This subsection shall not apply to any bid at a forced
sale.

Click here to visit the Official Idaho State Statutes