Sec. 4. (a) Except as provided in subsection (b), if the property to be sold is:
(1) one (1) item, with an estimated value of one thousand dollars ($1,000) or more; or
(2) more than one (1) item, with an estimated total value of five thousand dollars ($5,000) or more;
the purchasing agency may engage an auctioneer licensed under IC 25-6.1 to advertise the sale and conduct a public auction.
(b) This subsection applies if the property to be sold is property that belongs to a state agency. If the property is not to be sold under section 4.5 of this chapter, the commissioner of the Indiana department of administration shall sell the property under this section. In engaging an auctioneer under this section, the commissioner shall give preference to an auctioneer to conduct the public auction who is also a resident of Indiana.
(c) The advertising by an auctioneer under this section must include a detailed description of the property to be sold.
(d) The purchasing agency shall pay an auctioneer who conducts a sale under this section from the gross proceeds of the sale received before other expenses and liens are paid.
As added by P.L.49-1997, SEC.1. Amended by P.L.58-2018, SEC.2.
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