Mike Brandly, Auctioneer
Auctioneer escrow accounts
We would suggest every auctioneer has an escrow account (sometimes called a special account or trust account) for other people’s money —...
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Mike Brandly, Auctioneer
May 23, 20222 min read
New York City auction licensing
The New York Times published an article on May 3, 2022, titled “New York City Eliminates the Rules That Govern Art and Other Auctions.“ ...
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Mike Brandly, Auctioneer
May 21, 20222 min read
This $87.8 million mansion went to auction?
A mansion (not the above mansion) went to auction and the high bid was $45.76 million. A news headline thereafter read that a “$87.8...
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Mike Brandly, Auctioneer
May 18, 20222 min read
Do you have to auction … anything?
We have run an auction house since 1999. In that time, we’ve learned that there are some who attempt to treat these types of...
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Mike Brandly, Auctioneer
May 16, 20223 min read
Must, shall, should, will, may …
Auctioneers are confronted with any number of laws. Legislators author bills that become law when a governor or the President signs (or...
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Mike Brandly, Auctioneer
May 9, 20222 min read
Auctioneers: Yes, yep, yeah, yup … or what?
Ringmen (and ring women) often have to communicate that a bid has been offered by a bidder so that the auctioneer notes such a bid. To...
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Mike Brandly, Auctioneer
May 3, 20223 min read
Properly setting up … buy backs?
I know it happens, particularly in the online auction world, but the public (other bidders) detest the practice. You consign your...
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Mike Brandly, Auctioneer
Apr 27, 20223 min read
That new seductive advice
You’ve been exercising, eating right, and getting enough sleep. Imagine I want to get your attention. If I publish an article saying,...
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Mike Brandly, Auctioneer
Apr 25, 20222 min read
A centralized list of “bad bidders?”
Many auctioneers are advocating for some type of centralized list (database) of bad bidders — bidders who bid and don’t pay, use stolen...
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Mike Brandly, Auctioneer
Apr 22, 20223 min read
Variation by agreement, not uniform
We regularly write to [attempt to] help auctioneers stay out of court, rather than attempting to win in court, or worse yet, lose in...
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Mike Brandly, Auctioneer
Apr 18, 20223 min read
Buyer’s Premiums & Agency Duty
The suggestion apparently is that the buyer’s premium belongs to the auctioneer no matter. This is absolutely not true. The buyer’s...
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Mike Brandly, Auctioneer
Apr 14, 20222 min read
What is a “priceless” auction item?
What is a “priceless” auction item? Could an auctioneer exclaim, “This item is priceless?” What are the implications of such, if any? ...
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Mike Brandly, Auctioneer
Apr 11, 20222 min read
Buyer’s Premiums Basics
Buyer’s premiums have been used at auctions in the United States since 1977 — over 40 years. Yet, there remain many misunderstandings...
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Mike Brandly, Auctioneer
Apr 4, 20222 min read
Credit cards and surcharges
We were one of the first auctioneers (1993) to accept credit cards at all our auctions including even on-site auctions with no landline...
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Mike Brandly, Auctioneer
Mar 17, 20222 min read
Tom Brady’s “final” touchdown ball
Tom Brady [Brady] had apparently decided to retire. Lelands was selling Brady’s final touchdown football of his career. The football...
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Mike Brandly, Auctioneer
Mar 10, 20223 min read
Only the first sentence of § 1-302?
The Uniform Commercial Code § 1-302 titled “Variation by Agreement” clearly says (emphasis added:) (a) Except as otherwise provided in...
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Mike Brandly, Auctioneer
Mar 5, 20222 min read
Can an auctioneer breach a contract for any reason?
Contracts between auctioneers and sellers, consignors, and consignees typically bind the principal to rightfully convey ownership,...
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Mike Brandly, Auctioneer
Mar 1, 20222 min read
Because it’s your policy?
Let’s see … what is an auctioneer’s job? To maximize price for our seller/client? To solve the seller/client’s problem? Indeed this is...
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Mike Brandly, Auctioneer
Feb 25, 20222 min read
Buyers paying more (and more) of the costs
Buyer’s premiums continue to rise. In fact, I’ve heard for years that “nobody pays any attention to them” so why not raise them? ...
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Mike Brandly, Auctioneer
Feb 23, 20222 min read
Appraisals, auctions, and seller bidding
Appraisers often [rightly] use auction values as evidence of value. Yet, we wonder today if an auction with reserve (or a forced sale)...
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