For the purpose of regulation, auctions shall be divided into the following classes:
A. Class 1, Regular Auctions: Regular auctions shall be those conducted in a fixed place of business which shall be known and advertised as an auction house; whether the same shall be their own property or whether they sell the same as agents or employees of others.
B. Class 2, Temporary Auctions: Temporary auctions shall be auctions temporarily conducted for the sale of bankrupt, damaged or other goods. All sales shall be deemed and defined to be temporary if they consist of stocks, wares or merchandise brought to the City and so offered within a year of their arrival, or when the party conducting said sale cannot give satisfactory evidence to the contrary to the Clerk.
C. Class 3, Closing Out Auctions: Closing out auctions shall be auctions of stock on hand conducted by persons retiring from business; provided, however, that no license shall be issued for a closing out auction unless the person applying for such license shall have been continuously in business in the City as a retail or wholesale merchant for the period of three (3) years next preceding such sale. (1952 Code § 5-30-02; amd. 2019 Code)