The words "public auction sales" when used in this act, shall mean the offering for sale or selling of new goods, wares or merchandise to the highest bidder or offering for sale or selling of new goods, wares or merchandise at a high price and then offering the same at successive lower prices until a buyer is secured.
The words "new goods, wares and merchandise", when used in this act, shall mean and include all goods, wares and merchandise not previously sold at retail.
Laws 1955, p. 332, § 2.