SECTION 283

Before bidding begins, candles shall be prepared in such a way that each shall last approximately one minute. As soon as bidding is ordered, a candle shall be lit and the amount of the reserve price shall be announced. Where a bid is made, during the duration of one candle, such bid shall only become final and entail adjudication where no new bid is made before the extinction of two candles. The bidder shall cease to be bound where his bid is superseded by another, even where the later bid is declared a nullity. Where no bid is made after three candles have been successively lit, the pursuing creditor who initiated the sale shall be declared the successful bidder at the reserve price unless he applies that the auction sale be adjourned to another court session with a new reserve price in conformity with the provisions of article 267 (10) above. The adjournment of the auction sale shall be as of right; the formalities prescribed for publication shall be commenced de novo. Where on the day of the adjourned auction no bid is made, the pursing creditor shall be declared the successful bidder at the initial reserve price.