§ 1-10. Commissions.

(a) In general.

In court-ordered sales, and in all other sales unless otherwise agreed in writing by the parties, licensed auctioneers shall be entitled to the following commissions on the final selling price of all sales conducted by them.

(b) Real estate interest.

Real estate or any interest therein:

(1) 5% of the price to $5,000;

(2) 4% of the price from $5,000 to $20,000;

(3) 3% of the price from $20,000 to $100,000; and

(4) 2½% of the price over $100,000.

(c) Personalty.

Goods or personal property:

(1) 15% of the price to $15,000, and

(2) 10% of the price over $15,000.

(d) Minimum fees.

(1) The minimum fee in any sale or in any sale cancelled prior to its scheduled date is $50.

(2) The minimum fee for any sale cancelled on its scheduled date is $100.

(e) How computed.

Commissions shall be computed on the basis of each property, lot, article, or item, and not on the aggregate items offered for sale.