Key practical points:
• An auction sale is concluded when the hammer falls on the highest accepted bid.
• The auction house must disclose defects it knows of in the lot before the auction.
• It may be agreed that the auction does not warrant authenticity or quality (especially for art and antiques).
• The winner pays the price and agreed commission within the set time.
• Manipulation and collusion among bidders are prohibited and void the sale.
• Inspect the lots and the auction terms carefully before bidding, as reversal after the hammer is difficult.
💼 Contracts
Auction Law · Yalla China
中华人民共和国拍卖法 / Auction Law
📝 Overview
A law governing public auctions: the relationship among consignor, auction house and buyer, disclosure of defects, and commission fees. It sets rules for valid auction sales and bidders' rights.
This is general information only, not legal advice. For your specific case, consult a licensed lawyer.
📜 The law text / key provisions
🕒 Updated: 16 March 2026