(1) Subject to subsection (2), an action for conversion may lie against an auctioneer who, with or without knowledge of the true ownership of goods in cases not covered by the Sale of Goods Act, 1962 (Act 137), deals with the property.

(2) An act does not amount to conversion,

(a) if it is a mere advertisement for sale without an actual sale,

(b) where there is a contract of sale between the vendor and the purchaser and the auctioneer acting as agent of the vendor has not taken possession or interfered with the title in the property,

(c) where there is a private contract between the vendor and a purchaser and the auctioneer who has possession of the goods merely delivers the goods to the purchaser, or

          (d) where, without a physical interference with the goods, the auctioneer merely arranges the price and the goods are delivered by the vendor.