Plain language law

New Zealand law explained for everyone

Fair Trading Act 1986

Consumer transactions and auctions - Auctions

36ZE: Bids may be withdrawn until end of auction

You could also call this:

“You can take back your bid before an auction finishes”

You can change your mind about a bid at an auction. If you make a bid, you’re allowed to take it back anytime before the auction ends. This rule applies to all bids in an auction. Remember, once the auction is over, you can’t withdraw your bid anymore.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6156673.

Topics:
Business > Fair trading
Money and consumer rights > Consumer protection
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36ZD: Vendor bids, or

“Rules about sellers bidding on their own items at auctions”

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36ZF: Account and payment of proceeds, or

“Auctioneers must give you your money and a sale report within a set time”

Part 4A Consumer transactions and auctions
Auctions

36ZEBids may be withdrawn until end of auction

  1. Any bid at an auction may be withdrawn before the end of the auction.

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Notes
  • Section 36ZE: inserted, on , by section 23 of the Fair Trading Amendment Act 2013 (2013 No 143).