Mike Brandly, Auctioneer
Worth? Estimate? Value? Guide?
Do all these words mean the same thing? I believe this item is worth $140,000? I estimate this at $140,000? The value of this item is...
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Mike Brandly, Auctioneer
Sep 14, 20222 min read
Could “worth” be an expressed warranty?
We have been in the auction and appraisal business for decades. We’ve written about the appraisal industry many times and have...
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Mike Brandly, Auctioneer
May 21, 20222 min read
This $87.8 million mansion went to auction?
A mansion (not the above mansion) went to auction and the high bid was $45.76 million. A news headline thereafter read that a “$87.8...
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Mike Brandly, Auctioneer
Feb 23, 20222 min read
Appraisals, auctions, and seller bidding
Appraisers often [rightly] use auction values as evidence of value. Yet, we wonder today if an auction with reserve (or a forced sale)...
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Mike Brandly, Auctioneer
Apr 12, 20213 min read
The auction exceeded expectations?
These days we see it all the time: “Our auction exceeded all expectations,” or “The auction was twice what we were expecting.” It’s a...
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Mike Brandly, Auctioneer
Dec 14, 20203 min read
When is an auction a particularly good decision?
We’ve told countless people that when a seller (owner) has “urgency,” “equity” and “reasonable expectations” that an auction is a perfect...
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Mike Brandly, Auctioneer
Feb 25, 20203 min read
It is not worth what it won’t sell for
Terry Mangum said something similar and he’s exactly right: It is not worth what it won’t sell for. In other words, a piano listed...
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Mike Brandly, Auctioneer
Dec 6, 20193 min read
Residential real estate appraisal going away?
First, I am an auctioneer and appraiser and serve as Distinguished Faculty at Hondros College where I teach law, appraisal and other...
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Mike Brandly, Auctioneer
Aug 13, 20182 min read
Auctioneers, the IRS and appraisals
For reference, here is our previous article on IRS appraisals from 2013: https://mikebrandlyauctioneer.wordpress.com/2013/05/01/auctione...
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Mike Brandly, Auctioneer
May 14, 20183 min read
Seller bidding beyond reserve?
https://mikebrandlyauctioneer.wordpress.com/2009/11/15/different-types-of-auctions/ The right for the seller to bid — outside of a forced...
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Mike Brandly, Auctioneer
May 18, 20172 min read
Auctioneer setting the bid in at the stated minimum?
We recently wrote twice about auctioneers setting the bid in: https://mikebrandlyauctioneer.wordpress.com/2016/12/22/should-the-auctionee...
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Mike Brandly, Auctioneer
Oct 25, 20163 min read
Cost, Price & Value
In discussing appraisal techniques in classes all across the United States, three (3) particular terms are sometimes the focus. Those...
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Mike Brandly, Auctioneer
Jun 6, 20162 min read
Auctioneers & Real Estate Appraisal
A recurring question in those classes is, “What license is required to perform real estate appraisals in Ohio?” Much to the surprise of...
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Mike Brandly, Auctioneer
Sep 7, 20152 min read
Does an auction price equal market value?
This longstanding question is “Does an auction price equal market value?” Relatedly, Bill’s question was if a court had ruled on this...
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Mike Brandly, Auctioneer
Apr 20, 20153 min read
The auction crowd appraisal
Saturday arrives and a huge crowd has assembled, mostly around this ’57 Cadillac. Lyle has been wondering for over a week what the car...
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Mike Brandly, Auctioneer
Apr 6, 20152 min read
Auction performance fees
Late 2014, Christie’s added a 2% auction performance fee. This fee would be added to the seller’s commission if their “piece” sold in...
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Mike Brandly, Auctioneer
Feb 3, 20153 min read
I’m going to sell it at auction; what’s it worth?
Selling an oil painting for $500 is wonderful if the seller is expecting $200 and not good at all if the seller is expecting $2,000. As a...
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Mike Brandly, Auctioneer
Aug 13, 20143 min read
That has sentimental value
Linda said she was keeping it, and that was fine. We still had over 1,000 lots to sell at her auction including some nice antiques and...
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Mike Brandly, Auctioneer
Jun 30, 20143 min read
More than it’s worth?
Yet, some will say, “That [whatever] sold for $29,500 at that auction, but was worth much more.” Less often, someone will say, “That...
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Mike Brandly, Auctioneer
May 1, 20134 min read
Auctioneers: USPAP compliance for appraisals?
We wrote about auctioneers acting as appraisers with commentary regarding some related issues here:http://mikebrandlyauctioneer.wordpress...
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