Mike Brandly, Auctioneer
Fixed versus percentage deposits
Several so-called license states have indicated that for an absolute auction, the deposit required (earnest money, good faith “deposit”)...
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Mike Brandly, Auctioneer
Sep 12, 20223 min read
A fixed amount of buyer’s premium?
Abby decides to attend in person an absolute (without reserve) simulcast auction as there are some items that interest her. She drives...
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Mike Brandly, Auctioneer
Aug 21, 20132 min read
When, exactly, can the auctioneer take his commission?
The fee is a percentage of the gross proceeds. In this case, 20% will go to the auctioneer and 80% will go to the seller. The auction...
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Mike Brandly, Auctioneer
Jun 24, 20124 min read
Charity auctioneers charging commissions
In the landmark United States Supreme Court case Lochner vs. New York, 198 U.S. 45 (1905), the Court held that the “liberty of contract”...
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Mike Brandly, Auctioneer
May 16, 20103 min read
Calculating the buyer’s premium at an auction
We wrote about Buyer’s Premiums and how they worked some time ago. This article is about how to calculate the buyer’s premium. There is...
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