Liability of highest bidder

When any person becomes the highest bidder at public auction for any property there exposed for sale, and does not within forty-eight hours, or in the event of any other limited time being specially fixed, then within such time, pay for the same, it shall be lawful for the auctioneer selling such property to charge against, receive and recover from the person purchasing the same, interest at the rate of six per centum per annum, for such time as the purchase money of such property or any part of such purchase money shall be in arrears and unpaid, provided that when any property is exposed for sale on credit, with any conditions annexed to such credit and the person becoming the highest bidder for the same refuses or neglects to comply with such conditions, then and in every such case every sale shall be taken and considered to be a cash sale, and the purchase money shall be recoverable forthwith with interest at six per centum per annum from the date of sale until recovery.