Section 61-16-4 - Scope; auction sales exceptions.
61-16-4. Scope; auction sales exceptions.
A. Chapter 61, Article 16 NMSA 1978 shall apply to all sales by auction, other than those specifically excepted in this section, of gold, silver, plated ware, precious or semiprecious stones, watches, clocks and goods, wares and merchandise commonly classified as jewelry of any kind and nature. It shall not apply to:
(1) bona fide judicial sales; or
(2) bona fide sales upon foreclosure of a chattel mortgage landlord's lien or other lien or like interests.
B. Auction sales of jewelry by transferees upon judicial or bankruptcy sales shall be subject to all the provisions of Chapter 61, Article 16 NMSA 1978.