Mike Brandly, Auctioneer
Market adequately = market value
We’ve held (and been told) that the “seller confirmation” fanatics support holding auctions of this type in case the property doesn’t...
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Mike Brandly, Auctioneer
Jun 30, 20233 min read
Auctioneers and customary
The word “customary” gets attention in the auction business. What is customary? Live and/or online bidding? A variety of payment...
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Mike Brandly, Auctioneer
Mar 31, 20213 min read
Auctions and disclosing the sale price
Kathy is an auctioneer at an onsite real property auction and a good crowd is in attendance. She opens the auction with terms and...
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Mike Brandly, Auctioneer
Oct 22, 20202 min read
The absolute best auction headline … sold
A 1,000-year-old Chinese bowl sold for $2,225,000 at Sotheby’s. This bowl had previously been purchased at a yard sale for $3. This is...
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Mike Brandly, Auctioneer
Jun 6, 20202 min read
You’ve got to be kidding me?
I wasn’t sure what I was reading. Surely I misunderstood? We’re making buying at auction easier, aren’t we? Or are we making it more...
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Mike Brandly, Auctioneer
Jan 3, 20203 min read
“Sold!” shouldn’t be a lie
Who else in commerce lies to customers and gets away with it? If Walmart is advertising a sale, and then you get there and they aren’t —...
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Mike Brandly, Auctioneer
May 16, 20192 min read
$7.5 Million in storage unit auction?
The story is here: https://www.thisisinsider.com/five-hundred-dollar-storage-unit-had-7-million-inside-storage-wars-2018-11 which has...
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Mike Brandly, Auctioneer
Mar 20, 20193 min read
An auction that is both with AND without reserve?
First, let me clarify that this term “auction” here is just one lot, rather than the term “auction event” consisting of all the lots as...
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Mike Brandly, Auctioneer
Feb 13, 20193 min read
What’s faster? Live auction or online auction?
Live auctioneers can sell 2-3-4 lots of personal property a minute. Let’s say the average lot takes 25 seconds — so they sell in 25...
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Mike Brandly, Auctioneer
Nov 10, 20183 min read
Auctions and contract symmetry
We have argued for years that auction contracts (listing contracts, consignment contracts, terms and conditions, bid calling contracts)...
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Mike Brandly, Auctioneer
Sep 10, 20183 min read
UCC 2-328 allows reopen if other bidder is upset?
Quite frankly, bid calling isn’t terribly complicated in that auctioneers basically take (accept) bids from individual bidders until...
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Mike Brandly, Auctioneer
Jun 25, 20182 min read
At auction … when is it “Sold!?”
However, online it’s apparently not that clear. It could be when the auctioneer (or software) says “Sold! or it could be when the invoice...
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Mike Brandly, Auctioneer
Mar 14, 20184 min read
The future of the MLS for auctions
Maybe another question might be: What is the future of the real estate industry? How about the auction industry? I would offer these are...
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Mike Brandly, Auctioneer
Feb 3, 20182 min read
Won? Sold? Reopen? Exceptions?
After a bidder has won the bid with his (or her) high bid, he has become the new owner of the item, even though he may not have paid for...
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Mike Brandly, Auctioneer
Dec 15, 20172 min read
Is buying anything celebrity-related at auction a good investment?
As an example, we sold a replica “General Lee” 1969 Dodge Charger at auction about 15 years ago. Let’s just say that buyer calls me...
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Mike Brandly, Auctioneer
Dec 7, 20172 min read
Absolute and the high bidder isn’t the buyer?
If you don’t, your seller is open to a lawsuit by the high bidder seeking specific performance. In other words, the high bidder (even if...
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Mike Brandly, Auctioneer
Nov 24, 20173 min read
Negotiating with a “cut” bidder
www.fasttalkingpodcast.com — about cut bids (https://mikebrandlyauctioneer.wordpress.com/2017/11/21/as-the-auctioneer-do-you-have-to-take...
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Mike Brandly, Auctioneer
Nov 9, 20172 min read
The UCC 2-328 Sentence #9 (of 9)
UCC § 2-328 (Sale by Auction) only has nine sentences, but they all are widely misunderstood. Here we take a look at sentence #9,...
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Mike Brandly, Auctioneer
Nov 6, 20172 min read
The UCC 2-328 Sentence #8 (of 9)
UCC § 2-328 (Sale by Auction) only has nine sentences, but they all are widely misunderstood. Here we take a look at sentence #8,...
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Mike Brandly, Auctioneer
Nov 2, 20172 min read
The UCC 2-328 Sentence #7 (of 9)
UCC § 2-328 (Sale by Auction) only has nine sentences, but they all are widely misunderstood. Here we take a look at sentence #7,...
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