Mike Brandly, Auctioneer
Never reopen the bidding?
His rule is, “I never reopen the bidding.” In over 35 years of auctioneering, he’s not reopened a bid — not once. All of Sammy’s clients...
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Mike Brandly, Auctioneer
Jul 5, 20114 min read
When can the bid be reopened?
Simply put, when an auctioneer says, “Sold!” or uses some other customary closing, he or she denotes: The auctioneer cannot take any...
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Mike Brandly, Auctioneer
Jul 3, 20114 min read
Bid suppression at auction
John arrives and surveys the items up for bid, checking his smart phone for item details and comparative pricing. Just then, he sees his...
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Mike Brandly, Auctioneer
Jun 30, 20112 min read
If the seller bids …
The UCC 2-328 speaks to this issue in a somewhat peculiar fashion. In particular: 2-328 (4) If the auctioneer knowingly receives a bid on...
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Mike Brandly, Auctioneer
Jun 27, 20113 min read
Ask your client
We wrote about duties auctioneers owe their clients (sellers) in 2009. As we noted then, auctioneers are special agents for their...
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Mike Brandly, Auctioneer
Jun 22, 20114 min read
UCC 2-328 & Reasonable Time
Bib has held over 10,000 auctions in his career — mostly livestock, farm equipment and real property. Today, Bib is holding an auction...
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Mike Brandly, Auctioneer
May 30, 20113 min read
The delicate balance of a great auction
There are also other forced sale auctions including foreclosures, repossessions and court-ordered actions (lacking the seller’s consent)....
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Mike Brandly, Auctioneer
May 29, 20112 min read
Too few filler words?
Today, we explore if an auctioneer can be using too few filler words. In other words, other than the current bid (the have) and the...
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Mike Brandly, Auctioneer
May 26, 20112 min read
Selling choice … and then what?
For instance, if an auctioneer is selling choice of twelve flower arrangements, and the high bid is $12.50, the high bidder may take one,...
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Mike Brandly, Auctioneer
May 19, 20112 min read
Auctioneer Continuing Education
Such continuing education for auctioneers is also mandated by the National Auctioneers Association for those who have attained certain...
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Mike Brandly, Auctioneer
May 5, 20113 min read
How long does an auctioneer have to accept a bid?
Simply put, bidders offer an amount to the auctioneer and the auctioneer then accepts the offer if it exceeds the prior bid amount. Bids...
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Mike Brandly, Auctioneer
Apr 21, 20113 min read
The initial bid at an absolute auction
While it is important to note that a few of those states have slightly modified that same state law, all those states basically operate...
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Mike Brandly, Auctioneer
Apr 19, 20112 min read
Selling choice in an absolute auction?
However, combining an absolute auction with selling choice brings us to an interesting legal question. Our question today regards the...
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Mike Brandly, Auctioneer
Apr 2, 20115 min read
The net effect of the buyer’s premium
Since Christie’s and Sotheby’s introduced the buyer’s premium in 1975 in England, and soon after (1977) in the United States, the buyer’s...
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Mike Brandly, Auctioneer
Mar 26, 20115 min read
With reserve auction choices
Auctions are distinctly one of two types in the United States: “With reserve,” or “Without reserve.” If you are considering a “with...
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Mike Brandly, Auctioneer
Mar 20, 20113 min read
The hammer price
More recently, with the advent of sales tax issues, buyer premiums, and other charges added to the final sales price, the term, “hammer...
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Mike Brandly, Auctioneer
Mar 18, 20113 min read
Unjust enrichment at auction?
It seems every so often a story makes the news such as this: The buyer found over $40,000 in $100 bills taped under the third drawer of...
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Mike Brandly, Auctioneer
Mar 14, 20113 min read
Is the buyer’s premium a service fee?
Given this argument, we could have a different result in the total due at an auction where a buyer’s premium is charged. For instance: A...
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Mike Brandly, Auctioneer
Mar 9, 20114 min read
Guarantee & Split Auctions
This arrangement is known as a “guarantee and split” auction. In this type of agreement, the auctioneer guarantees an amount to be paid...
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Mike Brandly, Auctioneer
Mar 7, 20113 min read
How are auctioneers paid?
There are two parties to an auction. On the one side, there is a seller who typically owns the item, or otherwise represents the title...
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