All sales of property within the city by public outcry to the highest bidder, as well as the public offer of property at a price beyond its value, then lowering the price or increasing the number of articles until someone accepts the property offered as a purchase, shall be held and deemed a selling at auction within the meaning of this chapter. But this chapter shall not apply to nonresident auctioneers selling goods of a nonresident, but such nonresident auctioneers shall be held to be itinerant and transient merchants. (R.O. 1959, Ch. 9, Sec. 12)