No person shall sell, dispose of, advertise for sale or offer for sale at a public auction in the City any property of any kind, except under the following conditions:
   (a)   Such sale shall be conducted by an auctioneer duly licensed therefor.
   (b)   Such property shall have been on the tax rolls of the City for a period of one year prior to such sale, or it is all of the stock of goods of a merchant who has regularly done business in the City for one year prior to such sale.
   (c)   All taxes, plus penalties, which have become a lien under any law or ordinance, whether or not such taxes may have been actually assessed, have been paid.
   (d)   If such auction sale is also a closing-out sale, the provisions of these Codified Ordinances regulating such sales have been complied with.
   (e)   No property of any kind shall be added to the stock sought to be sold after the inventory is filed, nor shall any property be added within sixty days prior to the commencement of such sale in anticipation thereof.
   (f)   No property which has been struck off to the highest bidder during the course of such sale shall be again offered for sale during such auction.
   (g)   No auction sale of platinum, gold, silver, plated ware, precious or semiprecious stones, watches or other jewelry shall be permitted unless it is a closing-out auction and application therefor has been on file with the City Clerk for a period of sixty days prior to the first day of such sale. Every such article sold shall have securely attached to it a tag or label upon which shall be plainly written or printed in English a true and correct statement of the kind and quality of the metal of which such article is made or with which it is plated and/or the true name, weight, quality and color of any precious or semiprecious stone, together with the name of the manufacturer of such article.
   (h)   A sales book shall be kept showing every sale, and each sale shall be signed by the purchaser of each article at the time of the purchase, opposite a description of the article, and if no purchaser comes forward to sign such book, then the next highest bidder shall have the right to sign such sales book and to demand and receive such article at the amount of his original bid.
   (i)   No auction shall be conducted or continued in the City after 6:00 p.m., Eastern Standard Time, of any day.
(1975 Code Sec. 7.44)