Each person who conducts auctions as a business in this State of motor vehicles of a type required to be registered under this article shall keep a record of: The name and address of the consignor; The date on which it was consigned; The year, make, model, and serial number of each vehicle consigned; The title number and state where the vehicle was last registered; The odometer mileage reading at the time of consignment; The name and address of the person to whom the vehicle was sold; The selling price; and The date of sale. During business hours, the records shall be open to inspection by the Administration, by the Department of State Police, or by a law enforcement officer with a county or municipal police department or sheriff’s office who is assigned to an antitheft unit. The records required by this section shall be kept for at least 3 years after the transaction to which it applies. A person who fails to comply with any requirement under subsections (a) through (c) of this section is subject to a civil penalty not exceeding: For a first offense, $500; or For a second or subsequent offense, $1,000.