Mike Brandly, Auctioneer
The “Prudential Rule” and “as is”
The Texas Supreme Court heard the case of “Prudential Insurance Co. of America v. Jefferson Associates, Ltd., 896 S.W.2d 156 (Tex. 1995)”...
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Mike Brandly, Auctioneer
Nov 9, 20203 min read
“Most sellers” & reserve prices
I read that “most sellers” are not going to stick to a reserve price — in other words, a seller will say he needs at least $775,000 but...
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Mike Brandly, Auctioneer
Nov 5, 20202 min read
If you are the smartest (auctioneer) in the room …
We’re not sure who originally said it, but it’s good advice. “If you are the smartest person in the room, you are in the wrong room.” ...
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Mike Brandly, Auctioneer
Nov 2, 20202 min read
Practicing our auctioneer craft …
There’s nothing quite like bid calling in front of a nice crowd. Nothing quite matches watching people respond to my personality moving...
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Mike Brandly, Auctioneer
Oct 30, 20202 min read
Some auctioneers don’t talk fast
Ask almost anyone — and they’ll tell you that auctioneers, “talk fast.” However, some auctioneers don’t talk fast. Why is that? Where...
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Mike Brandly, Auctioneer
Oct 29, 20202 min read
What page should that be on?
It’s interesting to me that terms and conditions — particularly for real property auctions — keep getting longer and longer. ...
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Mike Brandly, Auctioneer
Oct 27, 20203 min read
Unless the circumstances indicate otherwise
Auctioneers can disclaim warranties for fitness and merchantability regarding property they are putting up for auction … typically by...
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Mike Brandly, Auctioneer
Oct 26, 20203 min read
Possible liability for nondisclosure
Some states and some courts have adopted the Restatement (Second) of Torts § 551 (1965) and as such § 551. Liability For Nondisclosure. ...
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Mike Brandly, Auctioneer
Oct 25, 20202 min read
Threatening to sue …?
People threaten to sue all the time. In the auction business — and much less frequently — people threaten to sue auctioneers;...
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Mike Brandly, Auctioneer
Oct 23, 20202 min read
Can you be a part-time auctioneer?
Can you be a part-time auctioneer? Many auctioneers are part-time and many are full-time. Can a seller hire a part-time auctioneer? Is...
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Mike Brandly, Auctioneer
Oct 22, 20202 min read
The absolute best auction headline … sold
A 1,000-year-old Chinese bowl sold for $2,225,000 at Sotheby’s. This bowl had previously been purchased at a yard sale for $3. This is...
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Mike Brandly, Auctioneer
Oct 21, 20202 min read
Auctioneers and their new fake news strategies
Auctioneers post an immense amount of fake news on Facebook and other social media sites. Yes, “immense” is the word — as in every day,...
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Mike Brandly, Auctioneer
Oct 20, 20202 min read
The absolute worst auction headline … unsold
A rare 18th-century coin — a 1794 Flowing Hair Silver Dollar — expected to sell at auction for over 10 million goes unsold. That’s...
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Mike Brandly, Auctioneer
Oct 19, 20203 min read
Auctioneers and deception
Deception is generally held as an act or statement which misleads. It might involve propaganda, distraction, camouflage, or concealment....
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Mike Brandly, Auctioneer
Oct 17, 20202 min read
Auctioneers and selective skepticism
We’ve written before about fake and other clearly unsubstantiated memes, posts, and stories being shared on social media by auctioneers. ...
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Mike Brandly, Auctioneer
Oct 16, 20202 min read
Providing as much information as possible?
Do auctions work better when sellers provide as much information as possible about what they are selling? Two American economists who...
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Mike Brandly, Auctioneer
Oct 15, 20202 min read
High bids in excess of market value
A couple is retiring and moving from Vermont to Florida. They are selling their Vermont waterfront home at auction. They hire a local...
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Mike Brandly, Auctioneer
Oct 14, 20202 min read
The winner’s curse
At an auction, who wins? The highest bidder, who outbids everyone else. Let’s ask another question … who loses? Maybe this same bidder...
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Mike Brandly, Auctioneer
Oct 13, 20202 min read
Auctions during Coronavirus
Auctions are indeed continuing during the Coronavirus (COVID-19) pandemic. Cases across the United States tended to wain during the...
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Mike Brandly, Auctioneer
Oct 12, 20202 min read
Auctions & the Nobel Prize
Stanford University economists Paul Milgrom and Robert Wilson won the Nobel Prize for work improving auction theory and inventing new...
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