CHAPTER 111: AUCTION SALES
Section
   111.01   Definitions
   111.02   Requirements
   111.03   Exempt sales
   111.04   Auction receipts
§ 111.01 DEFINITIONS.
      For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
   AUCTION SALE. The offering for sale or selling of personal property to the highest bidder or offering for sale or selling of personal property at a high price and then offering the personal property at successive lower prices until a buyer is secured.
   NEW MERCHANDISE. Any merchandise not previously sold at retail.
(SDCL § 37-14-2)
§ 111.02 REQUIREMENTS.
   The requirements of this subchapter are in addition to and not in lieu of any other state or local license.
(SDCL § 37-14-5)
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