It’s buyer beware at a “high value jewelry” auction in Saskatoon this weekend, warns the province’s consumer protection branch.
Heritage Auctioneers Alberta Ltd. is advertising the auction items as “magnificent pieces of jewelry” and “high value jewelry confiscated for non-payment.”
Newspaper ads list emeralds, rubies, sapphires, pearls, a 2.25 carat pear-shaped diamond and a men’s Rolex watch with diamonds. According to the ads, the auction will start at 2 p.m. on Sunday, with viewing at 1 p.m., at the Saskatoon Inn.
The company is registered in Saskatchewan, but it does not have a licence to hold an auction nor has it posted a bond, says Larry Wilson, deputy registrar of the consumer protection branch of Saskatchewan Justice.
“Any consumer that goes to this sale and buys is at risk if there’s anything wrong with the sale,” he said.
“I contacted (the company) and said, ‘You cannot proceed. You’re not licensed,’ and they basically said, ‘We’re going ahead anyway.’ ”
In his 10 years as deputy registrar, Wilson has never dealt with a company that refused to comply with the Saskatchewan auction regulations requiring the auction company to obtain a licence and post a bond.
In this case, the bond would likely have been set at $50,000 to $100,000, based on the price of the items listed for sale, says Wilson.
The bond is necessary to protect consumers. Someone wanting a refund, but getting no satisfaction from the company, could ask a judge to award the money, which would then come from the bond.

Posted: 10|20|07 at 11:05 am. Filed under: Auction News.