Secret second auctions
In brief, it is an illegal agreement involving bid rigging and price suppression, in violation of law inclusive of the Sherman Antitrust...
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Jul 26, 20122 min read
Auctioneers managing bidder expectations
How does the bidder (customer) feel about participating in the auction? What is the likelihood the customer will participate in this...
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Jul 26, 20123 min read
Auctioneers managing seller expectations
How did the seller (client) feel about the results? What is the likelihood the client will hire this auctioneer again, and/or recommend...
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Jul 17, 20123 min read
Who else was bidding?
Many bidders and buyers, such as Ned, have often wondered the identity of the other bidders. Buyers in particular often wonder who else...
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Jul 12, 20123 min read
Absolute? With a guarantee?
An absolute auction strictly means the property is selling to the highest bidder, with no limiting conditions such as a minimum bid,...
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Jun 24, 20124 min read
Charity auctioneers charging commissions
In the landmark United States Supreme Court case Lochner vs. New York, 198 U.S. 45 (1905), the Court held that the “liberty of contract”...
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Jun 22, 20123 min read
Auctioneer trust accounts
He accepts consignments Monday, Tuesday and Wednesday and then has his auction every Friday beginning at 4:00 p.m. Ed and his 12-year-old...
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Jun 18, 20123 min read
Mandatory auctioneer continuing education?
Thus, these states take a proactive role in qualifying and governing those who work as auctioneers. Only some of these “license” states...
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Jun 15, 20123 min read
Auctioneer: “Let’s take a break …”
The highly anticipated auction at the Springfield VFW hall started at 5:00 p.m. with over 120 in the room. The initial bid was $1,000 per...
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Jun 8, 20126 min read
What is an “unreserved” auction?
There are not three, four nor five types. Additionally there are no legal “hybrids” of the two types. In other words, an auction is...
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Jun 5, 20123 min read
Whose buyers are they?
In fact, the seller really doesn’t belong to the auctioneer, but the auctioneer most likely has an exclusive right to represent and act...
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May 29, 20122 min read
Must the seller be at the auction?
We recently wrote about the advantages and disadvantages of the seller being present for the auction: http://mikebrandlyauctioneer.wordpr...
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May 25, 20123 min read
Should the seller be at the auction?
Auctioneers seem to come to different conclusions regarding this. Some say the seller should be at the auction, and others say the seller...
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May 22, 20123 min read
Auctioneer disclaimers
Auctioneer disclaimers are as common as actual auctions. For centuries, auctioneers have “disclaimed” certain responsibilities in their...
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May 21, 20122 min read
Selling choice (or a right) in an absolute auction?
In essence, we asked if an auctioneer offered the high bidder choice of a group of items in an absolute auction, where that bidder could...
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May 17, 20124 min read
Auction photos
As well, in hopes of limiting liability, many auctioneers are using more pictures, and less accompanying descriptive text. In this way, a...
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May 12, 20123 min read
How many auctions?
When Harry first graduated, he held only 1-2 auctions per year. However, about 1985 his name became more famous in auction circles and he...
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May 4, 20123 min read
Orderly conduct of the auction process?
Auctioneers use this phrase “as-is, where-is” to denote, generally, two conditions of the sale: As-is: The buyers are accepting the...
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Apr 18, 20122 min read
A curious 1931 Model J Duesenberg
John apparently stored his 1931 Model J Duesenberg automobile (and a Rolls Royce) in a Manhattan storage unit (Windsor Garage) for over...
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Apr 16, 20124 min read
Auctioneers posting commission rates
Presumably, such a display of commission rates enables potential clients to see what that auctioneer charges, and make judgements about...
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