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Public Auctions

Within the framework of its competences, the Ministry for Regional Development is entrusted with the supervision over the activities of auctioneers and control on the compliance with the Act on Public Auctions. The Ministry servants conduct both inspections in the course of auctions and carry out subsequent checks on the documentation, which must be compulsorily archived.
 
To encash its property each entity is entitled to select the form of a public auction. Current Act no. 26/2006 Coll., on Public Auctions, as subsequently amended, defines voluntary and non-voluntary auctions.
 
Voluntary auction is proposed by the owner of assets or a liquidator of a bankruptcy or, where appropriate, by a receiver (insolvency receiver) of a bankrupt. The lien, which serves as a security interest of the creditor´s receivables, is encashed by means of a non-voluntary auction.
 
The auction is held by an auctioneer who pursues auction activity on the basis of a trade licence. In the process of an auction the owner or the creditor acts as petitioners. The course of the auction itself is managed by a vendue master who might be an auctioneer himself or by a third person authorized by the auctioneer.
 
In addition, the Ministry settle the claims and submissions by natural or legal persons and pursue methodical, consultancy and advisory activities in the field of public auctions.
 
All information on auctioneers and auctions is accessible for the general public on the Central Address portal (www.centralniadresa.cz/cadr    ); it secures transparency and publicity of public auctions. The Ministry for Regional Development ensures ongoing update of the data on auctioneers and oversees of the Czech Post Office PLC, which is the operator of the Central Address portal.