Mike Brandly, Auctioneer
That one very expensive asset at absolute auction?
As a result, Stephen called his longtime auctioneer friend Freddie Marshall. Since Stephen and his wife Kayla couldn’t agree about the...
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Mike Brandly, Auctioneer
Dec 17, 20132 min read
Car auction closing rate only 60% – 65%
Why conduct auctions and only sell 60% – 65% of the property, leaving as much as 40% unsold? Manheim COO Janet Barnard recently asked...
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Mike Brandly, Auctioneer
Dec 7, 20134 min read
Our auction is not absolute, nor with reserve
In other words, an auction is one type or the other — and necessarily one or the other — and not both. We have written extensively about...
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Mike Brandly, Auctioneer
Aug 26, 20132 min read
The suggested opening bid …
For instance, a newspaper advertisement, online advertisement and/or sign which said, “This is an absolute auction with no minimum bid,...
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Mike Brandly, Auctioneer
Aug 16, 20133 min read
How long of a delay is considered a withdrawal?
And with only four paragraphs, there are many subtleties which are less obvious. For example, our topic today. Our scenario is a...
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Mike Brandly, Auctioneer
Aug 14, 20132 min read
Can you have an absolute online-only auction? Should you?
An absolute auction: An auction where once a lot (property) is put up for bid, and a bid is received within a reasonable time, the lot...
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Mike Brandly, Auctioneer
Jul 9, 20132 min read
In Louisianna it sells absolute
The only state which did not adopt the UCC 2-328 into their state law is Louisiana, however their courts regularly rule as if they had....
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Mike Brandly, Auctioneer
Jun 10, 20133 min read
How often is it really selling absolute?
I see absolute auctions advertised all the time, all over the United States. However, how often is that really the case? Let’s look at...
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Mike Brandly, Auctioneer
Jan 20, 20132 min read
Absolute with minimum increments
A recent auction attendee (we’ll call him James) is also an attorney. He called me once he arrived to an auction, asking me about what...
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Mike Brandly, Auctioneer
Dec 6, 20123 min read
What about a national auctioneer’s license?
She started her career selling personal and real property near her home in the Midwest. Today, her primary business involves special...
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Mike Brandly, Auctioneer
Oct 16, 20124 min read
An absolute multiple parcel auction?
The property in total is then sold whatever way (combination) realizes the seller the most money. Early multiple parcel real property...
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Mike Brandly, Auctioneer
Oct 1, 20123 min read
Auction contract with binding (or nonbinding) arbitration
As well, we’ve written about the types of contracts auctioneers enter into, or are materially involved in supervising. Two such articles...
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Mike Brandly, Auctioneer
Aug 31, 20123 min read
The disguised effect of a reserve
During Adam’s tenure at Dale Motor Cars, Adam purchased over 15 cars for his personal collection. Adam stored most of his cars in his...
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Mike Brandly, Auctioneer
Aug 28, 20122 min read
Do “valuable” items require reserves?
Yet, on an appointment today, after I explained the merits of selling personal property absolute, I heard: “That’s real valuable, so I’ll...
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Mike Brandly, Auctioneer
Jul 12, 20123 min read
Absolute? With a guarantee?
An absolute auction strictly means the property is selling to the highest bidder, with no limiting conditions such as a minimum bid,...
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Mike Brandly, Auctioneer
May 21, 20122 min read
Selling choice (or a right) in an absolute auction?
In essence, we asked if an auctioneer offered the high bidder choice of a group of items in an absolute auction, where that bidder could...
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Mike Brandly, Auctioneer
Mar 28, 20123 min read
Sued for buying too cheap?
Apparently, on July 11, 2010, a well-known real estate broker and auctioneer was hired to market and sell at auction 18 condominium units...
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Mike Brandly, Auctioneer
Feb 14, 20123 min read
Bidder bids a negative amount …
I was asked the other day if a bidder bid a negative amount (such as -$50) at an absolute [without reserve] auction, “Is the auctioneer...
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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 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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