Re-sale on non-payment

(1) When any person becomes the highest bidder at public auction for any property there exposed to sale and does not within the appointed time pay for it or settle with the auctioneer agreeably to the conditions of the sale, it shall be lawful for such auctioneer to take possession of and expose the same property to sale again at public auction at any time within three months thereafter while the property remains in the possession of the auctioneer or of the purchaser. Re-sale on non- payment. (2) If upon such re-sale the property does not then realise as much money as was bid for it at the first sale, the deficiency, with the costs and charges, may be recovered by the auctioneer 8 in an action for debt from the purchaser at the prior sale who made default as aforesaid. (3) If the property is concealed for the purpose of defeating the auctioneer’s right, and he makes an affidavit to that effect before a magistrate, he shall thereupon be entitled to have a search warrant to search for and recover it and in the meantime the aforesaid claims of such auctioneer in any property so sold at auction and not paid for, shall have priority over all other claims whatever, save those of an intermediate bona fide purchaser for full value without notice.