#explicit

Mike Brandly, Auctioneer

Mar 293 min read

Buy at your price? Again, no.

The auctioneer says “Buy at your price …” so I assume I will willingly bid against other bidders, and if I’m the high bidder I get the...

Mike Brandly, Auctioneer

Jan 12 min read

Why is the default “with reserve?”

In 49 of our 50 states, an auction by default is “with reserve.” We attempt to answer why that is … and it’s unclear. The laws just...

Mike Brandly, Auctioneer

Oct 27, 20232 min read

Absolute but reserve not met?

Sometimes it’s this flagrant. The auction is advertised as absolute but it’s not. Why would an auctioneer do this? The word,...

Mike Brandly, Auctioneer

Jun 12, 20233 min read

“With” or “without” reserve

Auctions are by default “with reserve” unless explicitly denoted as “without reserve” in 49 states. In Louisiana, it’s the opposite, as...

Mike Brandly, Auctioneer

Dec 24, 20223 min read

Auction bright lines and a noteworthy footnote

We’ve written before that denoting an absolute auction requires the use of “absolute” or “without reserve” — and no other words do so —...

Mike Brandly, Auctioneer

Oct 3, 20224 min read

Courts interpreting “explicit”

We’ve held that a “bright line” defining when an auction is absolute or without reserve is horrible for the auction industry. What is...

Mike Brandly, Auctioneer

Sep 20, 20223 min read

Explicit bright lines and auction malpractice

In a recent case before the Supreme Court of Virginia, parties discussed when an auction is with reserve and when it is without reserve,...

Mike Brandly, Auctioneer

Sep 19, 20223 min read

Types or versions of auctions?

Yes, we’ve held for as long as I have been in the auction business that there are two types of auctions: With reserve and without...

Mike Brandly, Auctioneer

Aug 18, 20202 min read

‘Absolute’ or other expressions

Outside of Louisiana, all auctions are “with reserve” by default. That is, they are with reserve unless explicitly denoted as without...