No junk dealer or secondhand dealer shall sell, dismantle, deface, or in any manner alter or dispose of any article received by him in the course of his business operations within seventy two (72) hours from the time of purchasing or otherwise receiving such article. During such seventy-two (72) hour period, all items of property shall be stored or displayed at the business location where received, in the exact form received, and in a manner so as to be identifiable from the description entered in the record book required by § 112.08. Such property shall not be kept in secret storage or otherwise handled so as to prevent or impede its examination by any police officer or authorized inspector of the city. Further, no article or articles shall be sold, dismantled, defaced or in any manner disposed of until the same shall have been openly stored or displayed on the premises where from it is to be sold, dismantled, defaced, or in any manner disposed of, for a period of at least seventy-two (72) hours.