The so-called “hammer” falls at an auction, and the property (car, firearm, airplane, truck, tractor, artwork …) is sold to … who? ...

Auctioneers always want a big crowd — the number of people standing there and/or the number of bidders registered online. Generally, bid...

Auctioneers are fiduciaries for their sellers or consignees. Auctioneers owe clients (principals) obedience, loyalty, disclosure,...

Auctioneers work primarily as agents and for clients (principals) in performing their duties. As such, they would owe loyalty to those...

Some auctioneers are telling me that if they disclose the reserve on a property, bidders won’t bid beyond the reserve. I don’t believe...

The Texas Supreme Court heard the case of “Prudential Insurance Co. of America v. Jefferson Associates, Ltd., 896 S.W.2d 156 (Tex. 1995)”...

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...

It’s interesting to me that terms and conditions — particularly for real property auctions — keep getting longer and longer. ...

Some states and some courts have adopted the Restatement (Second) of Torts § 551 (1965) and as such § 551. Liability For Nondisclosure. ...

Do auctions work better when sellers provide as much information as possible about what they are selling? Two American economists who...

Sotheby’s announced recently they were instituting a new “Overhead Premium” of 1% on the hammer price to cover: The overhead costs...

Bidders have a right to assume whatever they are buying at auction has clear title. What do we mean by that? That the subject property...

First, let’s define some terms here: Express warranties are statements of fact and/or promises that the property will conform to the...

However, what are the implications? While you’re basically hearing crickets on that, let me tell you … the ultimate buyer has the right...

There are those who say, “No, that doesn’t need to be disclosed” and would further argue that you as a buyer aren’t even entitled to...

Ritchie Bros. held their first auction in 1958 in Kelowna, BC, Canada. Ken, Dave and John conducted their first of many to follow...

Some people have never been to a live auction. Today we discuss 10 (ten) things to know when attending your first auction: Check the...

We wrote in 2013 addressing if the “known” or the “unknown” sells better and concluded that the circumstances matter: ...

Our question today is “Why would an auction buyer want to remain anonymous?” There could be a myriad of reasons: Security. More...

I almost assume since all this auction information is listed, it’s all good news. However, is it always good news? Let’s look at a...