In conducting the business of auctioneering, each auctioneer and auction company, and the company’s owners, partners, officers, agents, and employees, shall do all of the following:

1. (a) Follow all lawful requests of the owner or consignor of the goods being sold at auction with regard to the sale of those goods.
2. (b) Perform his or her duties so that the highest or most favorable offer made by a member of his or her audience is accepted, except to the extent that any item or sale is offered with reserve or subject to confirmation.
3. (c) Truthfully represent the goods to be auctioned.
4. (d) Otherwise perform his or her duties in accordance with the laws of this state.