National Auction Association 4/5

Oct 18, 20232 min read

Auctioneers warranty all the time …

In the auction business, warranties are expressions (words) describing property up for auction. It might be the brand name, size,...

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Oct 16, 20232 min read

As it was, is, or as it will be?

When buyers buy anything at auction — particularly “AS IS and WHERE IS” — we would propose the buyer accepts the property in its current...

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Oct 13, 20232 min read

Artificially intelligent shill bidding?

Shill bidding is not difficult to find in the auction business. What is “shill bidding?” It’s bidding lacking the genuine intent to...

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Oct 10, 20233 min read

Auctioneers’ reputations & messaging

Let’s say it’s 1930 — for example — auctioneers were primarily known in their “community” and we knew his or her spouses, their kids’...

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Oct 8, 20232 min read

A sale is invalidated by incorrect descriptions

Auction terms and conditions are important. Auction terms and conditions also have to make sense, and sometimes they don’t. For...

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Oct 6, 20233 min read

Auctions, contracts, two identical lots

Lot #2 and Lot #184 are mistakenly the same lot. Lot #2 sells and we have a buyer and seller in contract. Lot #184 comes up and a...

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Oct 4, 20232 min read

How much is (+) or (-) at auction?

Auctions sometimes involve approximations. For instance, a vase is 9″ (+/-) or the real property lot is 1.25 acres (+/-). Of course,...

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Oct 2, 20233 min read

We’re acting in good faith, but not

Auctioneers, sellers, and bidders/buyers have to be more careful. In this regard, there are [maybe] some firearms, equipment, or jewelry...

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Sep 29, 20233 min read

Restricting [auctioneer] speech?

There is a “new” case being currently litigated (Will McLemore et al. v. Tennessee Auction Commission et al., in the United States...

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Sep 28, 20233 min read

Auctioneers, NAR, and the DOJ

It’s not 1908 anymore. Auctioneers engage real property sellers and have a choice — pay exorbitant fees to list the property in the...

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Sep 26, 20232 min read

The “list” of what you don’t sell …

I see many auctioneers openly publishing lists of what they “don’t sell” or don’t even accept. I find this interesting in that, for...

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Sep 23, 20232 min read

Selling “subject to …” deters bidders

Any auction — any time — anywhere — benefits from the “prospect of a deal,” where the bidders sense the chance to “get a deal.” Of...

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Sep 20, 20232 min read

Sorry … you bought it “as is”

Auctioneers have been proclaiming this since the “beginning of time.” The buyer has an issue with a purchase, and the auctioneer says,...

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Sep 18, 20232 min read

It’s old so it’s valuable?

As auctioneers, we are often told that something is old and therefore valuable. For instance, “This belonged to my great-grandmother …...

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Sep 15, 20232 min read

Auctioneers, laws, codes of ethics

Auctioneers have to deal with a myriad of laws and rules in their businesses. License law affects many auctioneers, plus the Uniform...

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Sep 11, 20232 min read

My descriptions may be accurate?

We’ve been telling auctioneers (and their sellers) that they have to “stand behind” their expressions concerning what they are selling. ...

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Sep 6, 20232 min read

Are you using another’s FFL?

You? An auctioneer who’s selling firearms and isn’t licensed as a Federal Firearms Licensee (FFL.) You decide you will utilize an FFL...

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Sep 4, 20232 min read

The auction starts and then …

We wrote in 2013 that auctioneer/seller contracts are “agency contracts” and as such would typically end if the auctioneer or seller died....

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Aug 26, 20233 min read

Auction Litigation Consulting

We’ve helped attorneys and others with auction litigation consulting since 2010. The other day, I was asked what “auction litigation...

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Aug 21, 20232 min read

“All normal auction terms?”

What would you think as a potential bidder if an auction was advertised as having “all normal auction terms?” What would those be...

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