Mike Brandly, Auctioneer
Live auction and a review process?
The ring worker holds up Lot #26 and the auctioneer asks for a bid of $5,000. Nobody bids $5,000 so the auctioneer asks for $2,000 and...
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Mike Brandly, Auctioneer
Aug 8, 20232 min read
Absolute … and the auctioneer can do what?
I’m registered for a real property absolute auction which means the seller has the “genuine intent to transfer to the highest bidder...
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Mike Brandly, Auctioneer
Aug 5, 20233 min read
What is a “timely” tendered bid?
We are reminded that an auctioneer can reopen a closed bid in light of a missed timely tendered (made) bid. We ask today, what exactly...
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Mike Brandly, Auctioneer
Aug 3, 20232 min read
Auctioneer or the property?
I watch auctioneers sort of advertising property on the Internet — with video — of the auctioneer talking about the property. Given this...
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Mike Brandly, Auctioneer
Jul 27, 20233 min read
Auctioneers unscathed?
It wasn’t distinctly expressed this way, but it was surely implied. Auctioneers can do anything they want with no consequences. Yes,...
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Mike Brandly, Auctioneer
Jul 19, 20233 min read
What if it’s not as you’ve expressed?
Rescinding a contract is essentially putting both parties back where they were before they were bound by a contract. In other words, in...
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Mike Brandly, Auctioneer
Jul 17, 20232 min read
“Unintentional” misrepresentation?
An auctioneer offers to refund your money … if you can prove he intentionally misrepresented the property you bought. Interestingly, how...
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Mike Brandly, Auctioneer
Jul 14, 20232 min read
Seller motivated, ready … but not really
I almost spit out my … ahem … coffee. The ad says the seller is motivated to sell, ready to sell … but the auction is subject to this...
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Mike Brandly, Auctioneer
Jul 12, 20232 min read
Auctioneers, firearms, stabilizing braces
An additional question — beginning in 2023 — for auctioneers selling firearms is: Does the “stabilizing brace” make it salable under the...
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Mike Brandly, Auctioneer
Jul 10, 20232 min read
Integrity and respect for reasonable expectations?
I’ve seen some interesting things in the auction business … and this might come close to topping them all, so far. This involves the...
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Mike Brandly, Auctioneer
Jul 3, 20233 min read
UCC § 2-328, Kentucky, tie bids
The Uniform Commercial Code § 2-328 denotes that “Where a bid is made while the hammer is falling in acceptance of a prior bid the...
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Mike Brandly, Auctioneer
Jun 30, 20233 min read
Auctioneers and customary
The word “customary” gets attention in the auction business. What is customary? Live and/or online bidding? A variety of payment...
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Mike Brandly, Auctioneer
Jun 28, 20232 min read
Auctioneers and “survivorship bias”
During wars, planes would fly into battle, with unfortunately only some returning home. Those that did return might have bullet holes as...
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Mike Brandly, Auctioneer
Jun 26, 20233 min read
Auctioneers and boycotting
Auctioneers over the last few years have publically said they are boycotting Google, Facebook, The Super Bowl (and anyone who’s performed...
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Mike Brandly, Auctioneer
Jun 23, 20232 min read
Bidders won’t bid past the estimate?
Auctioneers tell me bidders won’t bid past published reserves. Auctioneers tell me bidders won’t bid past pre-auction estimates. In...
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Mike Brandly, Auctioneer
Jun 22, 20232 min read
What’s a term? What’s a condition?
Auctioneers have been announcing and/or publishing their “terms and conditions” for their auctions for centuries. We look closer today...
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Mike Brandly, Auctioneer
Jun 19, 20232 min read
Could your auction purchase be a fake?
If you attend or otherwise bid on property at an auction, could your purchase be a fake? Further, if you purchase a fake item, what...
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Mike Brandly, Auctioneer
Jun 16, 20232 min read
Only previous bidders can place a new bid?
In a soft close with extended bidding, I noted that an auctioneer expressed, “Only previous bidders can place a new bid” and wondered...
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Mike Brandly, Auctioneer
Jun 12, 20233 min read
“With” or “without” reserve
Auctions are by default “with reserve” unless explicitly denoted as “without reserve” in 49 states. In Louisiana, it’s the opposite, as...
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Mike Brandly, Auctioneer
Jun 5, 20233 min read
In the case of a tied bid, there’s not?
I’m watching an online-only auction and see the note: “In the case of a tied bid, precedence is given to the earlier bid.” My first...
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