Mike Brandly, Auctioneer
When does the hammer start to fall?
“Where a bid is made while the hammer is falling in acceptance of a prior bid …” meant that somewhere between the “S” and the “D” of the...
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Mike Brandly, Auctioneer
Jan 13, 20122 min read
Seller commission, sales tax & buyer’s premium?
In the latter, auctioneers must correctly calculate seller commissions, sales tax and buyer premiums — both when reconciling with bidders...
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Mike Brandly, Auctioneer
Jan 9, 20123 min read
Is buying at auction considered gambling?
Sometimes he buys things and makes money, and other times he buys things and loses money. Cory assumes a risk when he buys something — as...
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Mike Brandly, Auctioneer
Jan 7, 20123 min read
Selling yourself, then their property …
He is to meet with Mary and Richard Gaines about selling Mary’s late mother’s real and personal property at auction. Upon arriving, Jim...
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Mike Brandly, Auctioneer
Jan 6, 20122 min read
When & Where: The UCC 2-328 applied to real estate
However we’ll use “real estate” here as this is typically how this question is posed. The UCC 2-328 was finally firmed as to language...
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Mike Brandly, Auctioneer
Jan 5, 20123 min read
Number of bidders per item? Number of bids?
Clearly the use of a computer allows for these counts to be calculated and reported. The more of each is deemed better for the seller;...
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Mike Brandly, Auctioneer
Jan 1, 20122 min read
Online ownership prior to auction?
For example, say the auction date is November 15. November 1 the auction house places a list of the items to be offered at auction on...
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Mike Brandly, Auctioneer
Dec 20, 20114 min read
Personal property at auction
Auctioneers sell personal property at auction every day in the United States and other places around the globe. For one auctioneer, that...
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Mike Brandly, Auctioneer
Dec 4, 20113 min read
History Channel – the Real Deal?
The added exposure for the auction method of marketing is beneficial to all of those involved in the auction business. I don’t doubt...
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Mike Brandly, Auctioneer
Nov 29, 20112 min read
An auctioneer’s best client
What traits would the best client have? What traits would the best client not have? If we base our evaluation on what might be a typical...
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Mike Brandly, Auctioneer
Nov 25, 20114 min read
Customary closing is … the price?
We write here about our analysis of this somewhat unusual type of auctioneer closing. The UCC 2-328 as adopted by 49 of the 50 states in...
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Mike Brandly, Auctioneer
Nov 11, 20112 min read
Can the minimum bid be too low?
In other words, could the minimum bids be so low that they affect the final selling prices in a negative fashion? Let’s say … Bob is...
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Mike Brandly, Auctioneer
Nov 6, 20113 min read
Auction bidders deserve to know seller identity?
And as more and more sellers sell their property by auction, some sellers — despite believing in the auction method of marketing — wish...
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Mike Brandly, Auctioneer
Oct 30, 20113 min read
Has the reserve confirmation system decreased the buyer pool?
“Has the reserve confirmation system caused the industry to lose buyer confidence and thus decreased the buyer pool?” First, let’s look...
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Mike Brandly, Auctioneer
Oct 29, 20112 min read
Auctions: Is it supply or demand?
Terry’s question restated: Does the property auctioneers are selling attract the bidders and buyers, or due to those bidders and buyers...
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Mike Brandly, Auctioneer
Oct 27, 20114 min read
Last good faith bid?
This 4-paragraph section of state law is the most paramount law for auctioneers in the United States. It dictates, among many things,...
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Mike Brandly, Auctioneer
Oct 24, 20112 min read
The (not so) aging of the auction audience
In other words, we were seeing 30- and 40-year olds at our auctions in the 1980’s, and now we’re seeing primarily 60- and 70-year olds? I...
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Mike Brandly, Auctioneer
Sep 27, 20115 min read
Selling at auction: online versus live
Some have also asked: Is there any evidence of the answer — has there been any research completed on this matter? The answers to these...
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Mike Brandly, Auctioneer
Sep 20, 20113 min read
The theater in the auction business
I think Alfred was on to something. It’s worth noting that both Sotheby’s and Christie’s allows bidders four ways to bid at their...
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Mike Brandly, Auctioneer
Sep 17, 20114 min read
Auctioneers being left behind?
While some believe this, I find the quote interesting to study a bit more in depth. An online auction allows bidders to bid via their...
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