Mike Brandly, Auctioneer
Does the UCC 2-328 apply to real estate?
First, we did ask if the UCC 2-328 applies to real estate and we should probably say, “real property” instead, as real estate is only the...
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Mike Brandly, Auctioneer
Aug 28, 20113 min read
Different increments for different bidders?
In other words, can an auctioneer have Julie on at $500 and ask (demand) Rachel bid $525 to outbid Julie, and when Rachel bids $525, then...
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Mike Brandly, Auctioneer
Aug 20, 20113 min read
If I had written the UCC 2-328
The UCC 2-328 as it is today, and as largely adopted verbatim by the states in the United States, is here:(1) In a sale by auction if...
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Mike Brandly, Auctioneer
Aug 18, 20113 min read
Caveat venditor and auctions
In contrast, today we write about “Caveat venditor” which is Latin for, “Let the seller beware.” So, how does caveat venditor relate to...
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Mike Brandly, Auctioneer
Aug 17, 20113 min read
Caveat emptor and auctions
The practical matter of caveat emptor is that buyers should be alert to omission, deception and misrepresentation in transactions,...
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Mike Brandly, Auctioneer
Aug 12, 20113 min read
The effect of the “as-is” clause
Here we explore the effect of the “as-is” clause. First, some terminology for our discussion today: Patent: Open, obvious, viewable...
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Mike Brandly, Auctioneer
Aug 7, 20113 min read
Online auctions lack a crucial element
Justin went on to describe what was lacking … “That a computer can’t put its hand on your back and tell you to bid on more time.” He also...
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Mike Brandly, Auctioneer
Jul 19, 20113 min read
Sold! Subject to seller’s approval?
Bob replied, “Well, I’m unclear. The auctioneer said, “Sold!” but I then heard the seller had 48 hours to accept or reject the offer.”...
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Mike Brandly, Auctioneer
Jul 17, 20113 min read
Sellable position
Now, before we discuss this particular subject of, “sellable position,” we’ll talk about what a ringman normally does. Ringmen work the...
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Mike Brandly, Auctioneer
Jul 16, 20113 min read
The NAA IAC Final Round Questions ’11
At the 2011 National Auctioneers Association (NAA) International Auctioneer Championship (IAC) recently held Friday, July 15 in Orlando,...
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Mike Brandly, Auctioneer
Jul 6, 20113 min read
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 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
Jun 20, 20113 min read
No customary closing?
The joy of teaching is almost always amplified by questions and commentary from attendees before class, at breaks and after class; nearly...
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Mike Brandly, Auctioneer
Jun 20, 20113 min read
Buyer’s premium in Wisconsin
Today, there is no state in the United States where the buyer’s premium is not found. Yet, auctioneers in Wisconsin are not permitted to...
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Mike Brandly, Auctioneer
Jun 9, 20113 min read
What is book value?
For instance, a fairly regular buyer of depression glassware who attended our auctions in the late 1980’s would regularly mention the...
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Mike Brandly, Auctioneer
Jun 8, 20112 min read
Sold! for $1.00
This made me wonder what the minimum cost an auctioneer would incur to sell an item for $1.00 (or for any amount) at a live 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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