Mike Brandly, Auctioneer
The net effect of the buyer’s premium
Since Christie’s and Sotheby’s introduced the buyer’s premium in 1975 in England, and soon after (1977) in the United States, the buyer’s...
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Mike Brandly, Auctioneer
Mar 31, 20112 min read
Can auctions be hypnotizing?
I’ve wondered if this is actually what’s going on at auctions … In fact, there is substantial evidence that humans enter into a light...
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Mike Brandly, Auctioneer
Mar 29, 20112 min read
The faster you sell them …
“The faster you sell them, the better prices are.” It seems valid that during an auction, the faster the pace — the better — for several...
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Mike Brandly, Auctioneer
Mar 26, 20115 min read
With reserve auction choices
Auctions are distinctly one of two types in the United States: “With reserve,” or “Without reserve.” If you are considering a “with...
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Mike Brandly, Auctioneer
Mar 21, 20113 min read
Why is auction case law important?
First, a bit about what case law is in the United States. Case law is one of four sources of law in the United States, and probably the...
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Mike Brandly, Auctioneer
Mar 20, 20113 min read
The hammer price
More recently, with the advent of sales tax issues, buyer premiums, and other charges added to the final sales price, the term, “hammer...
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Mike Brandly, Auctioneer
Mar 18, 20113 min read
Unjust enrichment at auction?
It seems every so often a story makes the news such as this: The buyer found over $40,000 in $100 bills taped under the third drawer of...
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Mike Brandly, Auctioneer
Mar 14, 20113 min read
Is the buyer’s premium a service fee?
Given this argument, we could have a different result in the total due at an auction where a buyer’s premium is charged. For instance: A...
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Mike Brandly, Auctioneer
Mar 12, 20113 min read
Market gobbledygook
In fact, we coined the term, “prospect of a deal” to explain why people attend auctions. There is also the term, “market value” which is...
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Mike Brandly, Auctioneer
Mar 11, 20112 min read
Contagion encourages auction purchases
In Yale University’s study, it was noted that celebrities are well regarded, and people may experience positive emotions when they think...
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Mike Brandly, Auctioneer
Mar 9, 20114 min read
Guarantee & Split Auctions
This arrangement is known as a “guarantee and split” auction. In this type of agreement, the auctioneer guarantees an amount to be paid...
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Mike Brandly, Auctioneer
Mar 4, 20113 min read
Can friends commit bid rigging?
We wrote about auction bid rigging, also known as auction collusion, some time ago. First, is there a difference between “rig rigging”...
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Mike Brandly, Auctioneer
Feb 27, 20112 min read
We bid via the Internet. We experience live auctions.
Further down the page, as the case is made that the Internet doesn’t necessarily displace magazine readership (which is up 11% over the...
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Mike Brandly, Auctioneer
Feb 21, 20112 min read
Auctioneers and mouth breathing
Mouth breathing is not unique to auctioneers. Singers, teachers, public speakers, announcers, athletes, and many others breath through...
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Mike Brandly, Auctioneer
Feb 19, 20114 min read
What is auction fraud?
In talking with other auctioneers about fraud, as well as others including auction buyers and sellers, there are considerable differences...
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Mike Brandly, Auctioneer
Feb 9, 20113 min read
Auctioneers & Deconstructing the Deal
The article that gets my attention is titled Deconstructing the Deal by Kentin Waits of wisebread.com. Among his suggestions on getting a...
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Mike Brandly, Auctioneer
Feb 8, 20112 min read
Internet Auction Calendars
My intent in this article is to focus on the paramount characteristic of any Internet auction calendar — the number of people who look at...
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Mike Brandly, Auctioneer
Feb 3, 20115 min read
Misleading auction advertising
As an auctioneer, I have written 1,000’s of auction advertisements. As Executive Director of The Ohio Auction School, I have taught...
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Mike Brandly, Auctioneer
Feb 2, 20112 min read
Bid calling in the United States differs from England
We have written extensively about auctioneer bid calling. For those in the United States, bid calling is nearly all uniform in one...
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Mike Brandly, Auctioneer
Jan 24, 20114 min read
Why didn’t it sell at auction?
A large real estate firm is holding a ballroom auction of bank owned properties, and about 40% don’t sell after being put up for auction....
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