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chapter. (e) Goods sold at an exhibition pursuant to Article III of this chapter. (f) Transactions conducted by a precious metals dealer licensed under Chapter 322 of the Minneapolis Code of Ordinances, and for which a precious metal dealers license is required. (g) Transactions conducted by a pawnbroker licensed under Chapter 324 of the Minneapolis Code of Ordinances. (h) Transactions conducted by a used auto part dealer licensed under Chapter 348 of the Minneapolis Code of Ordinances. (98-Or-059, § 1, 6-26-98) 321.40. License classifications. (a) Licenses renewed under provisions of this article shall be classified first according to the number of transactions submitted annually to the police department during the twelve (12) month period ending thirty (30) days prior to their renewal date, and then by the type of license. The classifications shall be: (1) Class A--Dealers that submitted four hundred (400) or more transactions. (2) Class B--Dealers that submitted fewer than four hundred (400)transactions. (b) All new licenses issued pursuant to this article after July 1, 1998 shall be deemed to be Class A licenses unless: (1) Applicant's business plan clearly indicates business will conduct fewer than four hundred (400) reportable transactions in any consecutive twelve (12) month period, or (2) If the applicant has any ownership, management or financial interest in any other businesses licensed under Chapters 321, 322 or 324, and the total number of reportable transactions from all businesses licensed pursuant to these chapters, including the current application, is fewer than four hundred (400) in any consecutive twelve (12) month period. (c) All new Class B licenses issued pursuant to this article after July 1, 1998 shall be monitored by the police license inspector and upgraded to a Class A license whenever four hundred (400) or more reportable transactions are, or should have been, submitted within any twelve (12) consecutive month period. Licensees shall be subject to all applicable Class A fees and regulations sixty (60) days after being notified in writing of the upgrade, but not sooner than January 1, 1999. (98-Or-059, § 1, 6-26-98) 321.50. License fees. (a) The annual license fees for licenses issued under this article shall be as follows: (1) For all Class A Secondhand Dealers and Auction House Dealers—Two hundred and twenty-five dollars ($225.00). (2) For all Class B Secondhand Dealers and Auction House Dealers--Two hundred and twenty-five dollars ($225.00). (b) The billable transaction fee shall be classified according to the medium by which daily reports required by section 321.110 are submitted to the police department These classifications shall be as follows: (1) Modem. Required of all Class A dealers, optional for Class B dealers.