Mike Brandly, Auctioneer
Auctioneer says sold for wrong amount?
To generalize the question at issue, let’s say an auctioneer is selling real property at auction, and the bidding goes as such: ...
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Mike Brandly, Auctioneer
Dec 21, 20104 min read
What is a Penny Auction?
Saturday arrives, and Sarah goes out to her car in order to drive to her weekend destination. She pulls up to a parking place just...
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Mike Brandly, Auctioneer
Dec 20, 20104 min read
Should the reserve be disclosed?
Marvin wishes to consign his 2009 Jaguar XF Coupe to the local auto auction. Marvin paid about $59,000 for this car about a year ago,...
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Mike Brandly, Auctioneer
Dec 19, 20103 min read
Item at auction is, but maybe not?
So, that 1889-CC Morgan Silver Dollar is MS-60, but maybe not? This could just as well be a parcel of land, a piece of commercial...
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Mike Brandly, Auctioneer
Dec 9, 20103 min read
Two auctioneers book the same auction?
One such instance was in 1983, when an auctioneer in Indiana opened the Sunday newspaper to see that he and another auctioneer in that...
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Mike Brandly, Auctioneer
Nov 25, 20103 min read
What is shill bidding?
So what is shill bidding? Let’s look first at the word, “shill.” Shill means basically to falsely advocate a position in attempts to...
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Mike Brandly, Auctioneer
Nov 19, 20102 min read
When the auctioneer says, “Sold!”
What does it mean when the auctioneer says, “Sold!?” In the United States, contract law is fairly clear that upon the declaration of...
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Mike Brandly, Auctioneer
Nov 13, 20102 min read
Madoff Auction: Sold against?
Yet, some language in the articles caught my eye as odd. For instance, one article noted, “A leather bull foot stool — including a tail...
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Mike Brandly, Auctioneer
Sep 26, 20103 min read
What is the difference between an auctioneer and a bid caller?
For our discussion, we are referring to bid calling as the usually rapid oral exchange with bidders, accepting bids, and asking for...
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Mike Brandly, Auctioneer
Sep 26, 20103 min read
Calling bids does not make one an auctioneer?
Let’s say Trisha graduates from high school, and decides to start her own company. She is proficient with computers and programming, and...
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Mike Brandly, Auctioneer
Sep 18, 20103 min read
Auction buyer abandonment
The Buyer has no right of abandonment whatsoever. The Buyer agrees to remove all purchased property from the Auction Site within the...
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Mike Brandly, Auctioneer
Sep 9, 20103 min read
Real property has no value at all?
Among the 1,000’s of real property auctions occurring every day in the United States, there are some properties that are garnering no...
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Mike Brandly, Auctioneer
Sep 6, 20103 min read
Do online-only auctions realize more money for the seller?
First, it is probably important to note that the recent Michigan State University Auction Industry 2010 study showed that only 6% of all...
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Mike Brandly, Auctioneer
Sep 3, 20103 min read
What to ask that real estate auctioneer
For those hoping to buy real property at auction, there are some basic questions that should be asked before participating. A real...
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Mike Brandly, Auctioneer
Aug 27, 20102 min read
Real estate has no value at all?
The term “real estate” is prevalent in our language, but is sometimes misused. Yes, those are probably real estate agents, and yes,...
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Mike Brandly, Auctioneer
Aug 24, 20103 min read
Can the seller bid at auction?
One right that is sometimes given up, but other times not, is the right to bid on that property at the auction. Why do sellers want to...
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Mike Brandly, Auctioneer
Aug 24, 20103 min read
Unethical Bid Calling #7, The Drop Off
Standard bid calling in the United States involves the auctioneer suggesting a price a bidder might bid, the bidder bidding that amount,...
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Mike Brandly, Auctioneer
Aug 20, 20103 min read
So where do you start the bid?
Auctioneers generally don’t start the bid. What happens at a typical auction is the auctioneer suggests a price to the audience (legally,...
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Mike Brandly, Auctioneer
Aug 17, 20102 min read
What does it mean to “buy something back?”
A television station just today reported that banks were, “buying homes back” at foreclosure auctions taking place in their county. Late...
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Mike Brandly, Auctioneer
Aug 13, 20103 min read
Can the auction reserve be $0.00?
As we have discussed in various posts, there are two types of auctions: With reserve Without reserve In a with reserve auction, the...
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