37-14-2. Auction sale defined.'Auction sale,' as used in this chapter means 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. Source: SL 1955, ch 233, §7; SDC Supp 1960, §54.0509; SL 1998, ch 242, §1.
South Dakota Legal Code