Mike Brandly, Auctioneer
Auctioneer says, “I’ve got it all over the house!”
The phrase, “I’ve got it all over the house” communicates to the bidders that there is much interest in this item being sold; the...
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Mike Brandly, Auctioneer
Jul 24, 20103 min read
Can auctioneers reopen the bidding?
As we have noted before, auctioneer bid calling is a series of oral contracts. A bid is received from a bidder and is accepted by the...
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Mike Brandly, Auctioneer
Jul 21, 20102 min read
Should I go to auction school?
First, many states in the United States require a license to act as an auctioneer. And, most of those license states require...
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Mike Brandly, Auctioneer
Jul 10, 20103 min read
Auctioneers aren’t commodities
We concluded rather swiftly, that the answer was, “No,” that auctioneers were not commodities. Let’s first look at what a commodity is:...
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Mike Brandly, Auctioneer
Jun 24, 20104 min read
An auction versus a tag sale or estate sale
A tag sale involves, basically, a person hired by the fiduciary who will “price” each item with a tag, indicating that the item is...
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Mike Brandly, Auctioneer
Jun 18, 20102 min read
As-is auction with an especially “as-is” item?
As I understand the story (or stories) is that this one item had a particularly latent issue that the auctioneer wanted his bidders to...
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Mike Brandly, Auctioneer
Jun 8, 20101 min read
Is sales tax charged on top of the buyer’s premium?
This really isn’t complicated. Let’s take two examples: Auctioneer Bob doesn’t charge a buyer’s premium. Customer Sally purchases a...
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Mike Brandly, Auctioneer
Jun 4, 20103 min read
Auctioneer franchising
First, some terminology. In a franchise arrangement, the (typically) local auctioneer becomes a franchisee by buying a franchise from a...
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Mike Brandly, Auctioneer
Jun 2, 20102 min read
The “Nominal Opening Bid”
We wrote about issues with auctioneers using an opening bid to suggest a minimum bid a few months ago. That post is here: The Opening...
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Mike Brandly, Auctioneer
May 30, 20103 min read
Seller wants his identity and sales prices kept confidential at auction
It is now 3 years after Mr. Georges Wyatt purchased his long-desired painting. He now wishes to sell the painting at auction, and wants...
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Mike Brandly, Auctioneer
May 28, 20104 min read
Buyer wants his identity and sales price kept confidential at auction
Friday finally arrives, and the subject painting comes up for auction. Mr. Wyatt opens the bid at $100,000 and bidding moves swiftly...
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Mike Brandly, Auctioneer
May 25, 20102 min read
Is it okay for the auction staff to bid?
I am somewhat new to the auction scene and was wondering if it is standard procedure for workers at an auction to bid on items that they...
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Mike Brandly, Auctioneer
May 24, 20102 min read
Why do we say, “It sold for … including the buyer’s premium?”
This is done, generally, to attract clients wishing to sell their items for similar prices. If Julie has a Roseville Blackberry vase to...
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Mike Brandly, Auctioneer
May 22, 20106 min read
Bid increments at auctions
For example, if a 2009 Case IH Magnum 335 is selling at auction, and the auctioneer has $175,000 is asking for $177,500, then the bid...
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Mike Brandly, Auctioneer
May 21, 20102 min read
Changing auction terms is asking for a problem
In the terms and conditions prior to the start of the auction, the auctioneer noted that bids would have to be at least 10% more than any...
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Mike Brandly, Auctioneer
May 16, 20103 min read
Calculating the buyer’s premium at an auction
We wrote about Buyer’s Premiums and how they worked some time ago. This article is about how to calculate the buyer’s premium. There is...
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Mike Brandly, Auctioneer
May 15, 20102 min read
Auction: Absolute Over $90,000 Opening Bid?
Quite simply, auctioneers use the word “Absolute” to attract maximum buyer interest. Yet, it is nothing less than misrepresentation when...
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Mike Brandly, Auctioneer
May 14, 20103 min read
What is collusion at an auction?
We ask here, “What is collusion at an auction?” Collusion at an auction can involve bidders (buyers), sellers, and/or auctioneers. ...
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Mike Brandly, Auctioneer
May 13, 20109 min read
Aberrant Auction Law, Kentucky #10
This is my tenth “aberrant auction law” find, and numbered as such. When I find more, I’ll attempt to number sequentially, although I...
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Mike Brandly, Auctioneer
May 6, 20102 min read
Asking for bids before the auction is starting the auction?
The auctioneer goes out to the auction location on Monday, May 17 to take some pictures and finish up the inventory. The neighbor comes...
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