State regulators have revoked the license of a Gray auctioneer who they say mishandled a consignment in way that violated state law.

The Department of Professional and Financial Regulation announced Wednesday it had revoked the license of James Cyr and fined him $4,500.

Cyr operates Cyr Auction Company at 100 Lewiston Road in Gray. The company specializes in the auction of antiques and collectibles, and Cyr himself has over 30 years of experience as an auctioneer.

Commissioner Anne Head said Cyr violated state law by failing to adequately account for a person’s property in his possession, failing to return money and unsold property in a timely fashion, and auctioning property without a written contract.

There were past disciplinary actions against Cyr in 2003, 2005, 2006, 2007 and 2008, when he was found to be in violation of state rules, Head said. Those past violations did not appear to have any impact on Cyr’s conduct, she said.

“Most auctioneers in Maine are honest and professional in their conduct,” Head said. “But we realize in the Cyr case that some bad actors may continually disregard Maine law and place consumers at risk of losing money and property.”

Reached Wednesday, Cyr said his company was unaware regulators were holding a hearing concerning his license. After he was notified of the decision, he did find what he described as a “small note” at the end of a letter from the department.

“There was no certified letter or anything,” Cyr said. “We never had an opportunity to respond.”

In the latest case, Cyr said, a man overreacted when he did not receive payment for items sold through Cyr. The customer’s information had been set aside for payment, but Cyr forgot to send the payment, he said.

“As soon as we discovered it hadn’t been made, we made it. Things fall through the cracks. We handle more objects and have more consignments than anywhere else,” he said.

Though Cyr’s individual license has been revoked, there are other licensed auctioneers at Cyr Auction who can continue to work. The loss of his license will not impact the business, Cyr said.

“We are going to continue business as usual,” he said.