Mike Brandly, Auctioneer
Tie Bids — they don’t exist at an auction
When bid calling, there can be only one high bidder who is in contract with the seller (i.e. one seller, one buyer). If it were possible...
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Mike Brandly, Auctioneer
Dec 3, 20091 min read
Can the auction bidder say, “Never mind?”
The short answer to this is, Yes. As referenced in several of my articles here, including most notably Does bid calling form contracts?,...
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Mike Brandly, Auctioneer
Dec 1, 20092 min read
The essential elements of any contract
Competent parties Mutual assent Consideration Competent parties means that both parties to the contract are competent. Competency...
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Mike Brandly, Auctioneer
Nov 29, 20094 min read
Absolute = Without Reserve; Without Reserve = Absolute
In theoretical mathematics, if A = B and B = A, then A and B are the same thing, thus this question posed here about absolute auctions....
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Mike Brandly, Auctioneer
Nov 27, 20093 min read
Auction seller won’t agree to the sale
This does happen also, but not nearly as often as a buyer not performing. What we have in this case is a seller who, after the...
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Mike Brandly, Auctioneer
Nov 23, 20093 min read
Auction buyer won’t pay
First, it does matter if the transaction involves real property or personal property. Each are handled in very different ways due to the...
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Mike Brandly, Auctioneer
Nov 20, 20092 min read
Does bid calling form contracts?
When an auctioneer says, “I have $10, and I’d like $15,” he is stating that he currently has his seller in contract with a particular...
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Mike Brandly, Auctioneer
Nov 19, 20092 min read
What do auctioneers owe their customers?
It is not the same as “client” as the client has hired us to perform duties on their behalf. Customers, on the other hand, are typically...
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Mike Brandly, Auctioneer
Nov 17, 20093 min read
What do auctioneers owe their clients?
When a client engages the services of an auctioneer, what duties does the client have the right to expect? In such cases, the auctioneer...
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Mike Brandly, Auctioneer
Nov 15, 20093 min read
Can the auctioneer bid?
First, can the auctioneer bid at his or her own auction? In almost all states (one exception being Pennsylvania), the auctioneer is not...
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Mike Brandly, Auctioneer
Nov 14, 20092 min read
Different Types of Auctions
1. With reserve 2. Without reserve These definitions are derived from the UCC Section 2-328. This section of law has been adopted by 49...
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Mike Brandly, Auctioneer
Nov 13, 20095 min read
Absolute Auctions
There is no other aspect of a public auction that attracts attention more than buyers feeling as if they might “get a deal” on something...
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