The following words and phrases when used in this act shall have the meanings given to them in this section unless the context clearly indicates otherwise:

“Apprentice auctioneer.” An individual who is licensed under this act as an apprentice auctioneer.

“Auction” or “sale at auction.”

“Auction company.” A legally recognized entity that sells or attempts to sell property at auction or performs, or offers to perform, any of the functions or activities requiring licensure as an auction company under section 3(a)(1).¹ The term includes any legally recognized entity that holds itself out as engaged in the business of selling property at auction.

“Auction house.” An established place of business, including, but not limited to, an auction barn, a sale barn and a sale pavilion, used primarily for conducting auctions, where two or more auctions are held within any 12-month period and where representations are regularly made that property is sold at auction. The term does not include premises where isolated or periodic sales are conducted by an auctioneer or auctioneer apprentice and that are used primarily for purposes other than auctions or sales at auction.

“Auctioneer.” An individual who sells or offers or attempts to sell property at auction. The term includes an individual who:

“Auctioneer-of-record.” The licensed auctioneer designated by an auction company as its auctioneer-of-record. The auctioneer-of-record is principally responsible for the conduct of the auctions of the auction company in accordance with this act.

“Board.” The State Board of Auctioneer Examiners.

“Commissioner.” The Commissioner of Professional and Occupational Affairs in the Department of State.

“Department.” The Department of State.

“Extended auction.” An auction conducted in whole or in part online at which bids are received over an extended period of time identified by a starting time and ending time that may encompass multiple minutes, hours, days or other periods.

“Group A auction school.” A provider, approved by the board, offering a course of study in auctioneering and the auction industry, as approved by the board, the completion of which requires not less than 20 credit hours, including two credit hours of practicum or cooperative practical experience.

“Group B auction school.” A provider, approved by the board, offering a course of study in auctioneering and the auction industry, as approved by the board, the completion of which requires fewer than 20 credit hours.

“Legally recognized entity.” A partnership, association, corporation, limited liability company or other entity recognized under the laws of this Commonwealth or any other state.

“Licensee.” An individual licensed under this act as an auctioneer, apprentice auctioneer or holder of a special license and a legally recognized entity licensed under this act as an auction company.

“Live auction.” An auction or sale at auction at which one or more members of an audience are present in person, are communicating telephonically or by other digital or electronic means or are participating by absentee bid.

“Negotiated transaction.” A transaction for the sale of property, involving offers and counteroffers, conducted through a process of negotiation between the prospective buyer and any of the following:

“Online auction.” An auction or sale at auction conducted over the Internet or similar interactive communication media.

“Online trading assistant consignment transaction.” A transaction pursuant to which a registrant or licensee describes and lists personal property of another for sale through the use of hardware or software that enables computer access by multiple users to an interactive computer server:

“On-site auction.” An auction or sale at auction conducted at the seller's residential or business location where the property to be sold is located.

“Person.” An individual or a legally recognized entity.

“Property.” Real and personal property, including both tangible and intangible personal property. The term includes, but is not limited to, domestic animals and farm products.

“Qualified sponsor.” A currently licensed auctioneer residing in this Commonwealth.

“Real-time auction.” An auction or sale at auction at which bids are solicited and received contemporaneously, in real time.

“Registrant.” A person registered under this act as a trading assistant or a trading assistant company.

“Seller.” The owner of property, or the legal representative or agent of the owner of property, who consigns or otherwise agrees to have the property sold at auction or by way of an online trading assistant consignment sale transaction.

“Special licensee.” The holder of a special license issued pursuant to section 3.

“Temporary venue.” A venue, including a rented hall, used primarily for other purposes, at which an auction or sale at auction is held by an auction company or an auctioneer, regardless of the frequency of the auctions or sales at auction.

“Trading assistant.” An individual who, for a commission or fee, conducts or intends to conduct a business within this Commonwealth of selling, or offering to sell, the personal property of another through an online trading assistant consignment sale transaction, or who performs, or offers to perform, any of the functions or activities requiring registration under section 5.1(a).²

“Trading assistant company.” A legally recognized entity that, for a commission or fee, conducts or intends to conduct a business within this Commonwealth of selling, or offering to sell, the personal property of another through an online trading assistant consignment sale, or that performs, or offers to perform, any of the functions or activities requiring registration under section 5.1(a).