(a) Before the sale is held, notice in writing must be given to the person from whom the article to be sold was received, of the amount due for such alteration, repair, or other work, and the time and place of sale; if the residence of the person is known the notice must be mailed to his or her last known street address; but if it is unknown then the notice of the sale shall be published at least six (6) days previous to the sale in a newspaper, published in English, in the city or town in which the jeweler, watchmaker, or silversmith carries on business if the item to be sold has a fair market value in excess of one hundred dollars ($100). (b) Fair market value as used in this section shall mean the price a willing buyer would pay to a willing seller and which the seller would accept on the open market.
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