No licensee, his agents or employees shall make any statements which are false in any particular or which have a tendency to mislead or make any misrepresentations whatsoever with reference to any article sold or offered for sale during the auction.
If any licensee, his agents or employees makes any such false statements or misrepresentations, or hires or permits false bidders for the purpose of encouraging other bids, the Mayor may revoke such license.
(1963 Code §707.11)