Mike Brandly, Auctioneer
Can an auctioneer refuse a higher bid?
It’s well established that there are only two types of auctions: Any auction is either “with reserve” or “without reserve.” And the...
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Mike Brandly, Auctioneer
May 30, 20143 min read
Supply sophism
We were flying to Missouri to inspect a noted inventory of antiques and collectibles. The owners (husband and wife) wanted to discuss us...
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Mike Brandly, Auctioneer
Mar 25, 20123 min read
Vickrey auctions — high bidder bids more honestly
A seller can have bidders submit sealed bids, and then sell the single-item to the highest bidder. For example, 3 bidders place sealed...
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Mike Brandly, Auctioneer
Dec 25, 20112 min read
Should auctioneers announce the buyer’s (or bidder’s) name? Part II
Our original story is here: Should auctioneers announce the buyer’s (or bidder’s) name? Nancy purchased a rare pair of Japanese Carl...
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Mike Brandly, Auctioneer
Nov 15, 20113 min read
Should auctioneers announce the buyer’s (or bidder’s) name?
Ed conducts an “Every Friday” consignment auction in Carlin, Nevada. This particular Friday, he opens his auction with the first item up...
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Mike Brandly, Auctioneer
Aug 12, 20113 min read
The effect of the “as-is” clause
Here we explore the effect of the “as-is” clause. First, some terminology for our discussion today: Patent: Open, obvious, viewable...
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Mike Brandly, Auctioneer
Jul 4, 20114 min read
Price fixing at auction
The story goes, in part, that Pritchard and Juno conspired to “appraise” a Confederate Civil War sword on the Antiques Roadshow...
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Mike Brandly, Auctioneer
May 30, 20113 min read
The delicate balance of a great auction
There are also other forced sale auctions including foreclosures, repossessions and court-ordered actions (lacking the seller’s consent)....
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Mike Brandly, Auctioneer
May 10, 20113 min read
A “standard” buyer’s premium?
I’m guessing that the word, “standard” is being used in this manner to mean usual, common, or customary. Yet, is the buyer’s premium any...
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Mike Brandly, Auctioneer
Apr 2, 20115 min read
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 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 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 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
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
Jan 13, 20113 min read
Does one auction purchase spur another?
Tim is an auctioneer in Florida. His once-a-month antiques and collectibles auction is about to begin. This particular auction has a...
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Mike Brandly, Auctioneer
Jan 8, 20114 min read
Is maximizing the absentee bid proper?
Here’s a typical example of what we’re addressing here: Terrell’s Auction House has an auction coming up Monday night and has a 1955...
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Mike Brandly, Auctioneer
Dec 21, 20104 min read
What is a Penny Auction?
Saturday arrives, and Sarah goes out to her car in order to drive to her weekend destination. She pulls up to a parking place just...
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Mike Brandly, Auctioneer
Dec 19, 20103 min read
Item at auction is, but maybe not?
So, that 1889-CC Morgan Silver Dollar is MS-60, but maybe not? This could just as well be a parcel of land, a piece of commercial...
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Mike Brandly, Auctioneer
Nov 25, 20103 min read
What is shill bidding?
So what is shill bidding? Let’s look first at the word, “shill.” Shill means basically to falsely advocate a position in attempts to...
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Mike Brandly, Auctioneer
Nov 22, 20102 min read
Auctions & the sense of touch
Too, the auctioneer would typically wade through the crowd prior to the auction, shaking hands, putting a hand on a shoulder to have a...
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