N.Y. Lien Law § 202-b

§ 202-b. Pledgee may buy at public sale. Unless the pledge agreement\notherwise provides, in all cases where a pledgee may lawfully sell\npledged property and the property is sold at public sale, the pledgee,\nor his assignee or the legal representative of either, may fairly and in\ngood faith purchase the pledged property or any part thereof at the\nsale. This section does not apply to a sale of property pawned or\npledged with a collateral loan broker.\n