UAE Commercial Transactions Law

Article 122 — Article (122)

Book Two: Commercial Obligations and Contracts · Part Two: Commercial Sale · Chapter two: Certain types of Commercial Sales: Section one: Sale by Installment: Article (111) · Section Two: Optional Public Auction Sale of Movables: Article (119)

Where the initial appraisal of the second-hand goods offered for sale at a public auction exceeds (AED 400,000) four hundred thousand dirhams, the appraisal expert shall publish the same according to the procedures and time limits mentioned in the resolutions issued by the Minister of Economy or in the legislation in force in the State. The announcement shall schedule a day prior to the sale for the inspection of goods offered.

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