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...

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...

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

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

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

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

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

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...

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