Mike Brandly, Auctioneer
Is the auctioneer the seller?
I was talking to her the other day and ask how things were going … She said, “Great!” I just put two homes into contract and I’ve sold...
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Mike Brandly, Auctioneer
Aug 16, 20133 min read
How long of a delay is considered a withdrawal?
And with only four paragraphs, there are many subtleties which are less obvious. For example, our topic today. Our scenario is a...
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Mike Brandly, Auctioneer
Jul 25, 20123 min read
Auctioneers and appraising
One such discussion was published in 2011: Auctioneers as appraisers. Today, we discuss more, “how not to appraise” property — how not...
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Mike Brandly, Auctioneer
Mar 19, 20123 min read
Court auctions — does money trump principle?
Generally, when Bankruptcy courts oversee auctions, and for that matter, when state and county courts oversee auctions, there is often a...
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Mike Brandly, Auctioneer
Jan 17, 20122 min read
When does the hammer start to fall?
“Where a bid is made while the hammer is falling in acceptance of a prior bid …” meant that somewhere between the “S” and the “D” of the...
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Mike Brandly, Auctioneer
Jul 19, 20113 min read
Sold! Subject to seller’s approval?
Bob replied, “Well, I’m unclear. The auctioneer said, “Sold!” but I then heard the seller had 48 hours to accept or reject the offer.”...
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Mike Brandly, Auctioneer
Jun 30, 20112 min read
If the seller bids …
The UCC 2-328 speaks to this issue in a somewhat peculiar fashion. In particular: 2-328 (4) If the auctioneer knowingly receives a bid on...
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Mike Brandly, Auctioneer
Jun 22, 20114 min read
UCC 2-328 & Reasonable Time
Bib has held over 10,000 auctions in his career — mostly livestock, farm equipment and real property. Today, Bib is holding an auction...
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Mike Brandly, Auctioneer
Jun 20, 20113 min read
No customary closing?
The joy of teaching is almost always amplified by questions and commentary from attendees before class, at breaks and after class; nearly...
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Mike Brandly, Auctioneer
Jun 14, 20113 min read
Auctioneers & 1099’s
As I frequently teach auctioneer continuing education, I am often asked about this particular issue, as well as more general 1099...
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Mike Brandly, Auctioneer
Jun 8, 20112 min read
Sold! for $1.00
This made me wonder what the minimum cost an auctioneer would incur to sell an item for $1.00 (or for any amount) at a live auction....
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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 26, 20115 min read
With reserve auction choices
Auctions are distinctly one of two types in the United States: “With reserve,” or “Without reserve.” If you are considering a “with...
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Mike Brandly, Auctioneer
Mar 12, 20113 min read
Market gobbledygook
In fact, we coined the term, “prospect of a deal” to explain why people attend auctions. There is also the term, “market value” which is...
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Mike Brandly, Auctioneer
Jan 1, 20113 min read
Does order of sale matter?
One comment Walter would make to me almost every week at our auctions was, “You’re selling all your good stuff first … you’re going to...
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Mike Brandly, Auctioneer
Dec 28, 20104 min read
Old English Auction Case Law
While the United States has developed many such auction and auctioneer laws, English (United Kingdom) courts in the 1700’s and 1800’s...
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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 30, 20102 min read
Auction or sale?
It is an auction or is it a sale? While they’re all technically auctions, many in the auction business use the word, sale instead of...
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Mike Brandly, Auctioneer
Nov 19, 20102 min read
When the auctioneer says, “Sold!”
What does it mean when the auctioneer says, “Sold!?” In the United States, contract law is fairly clear that upon the declaration of...
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Mike Brandly, Auctioneer
Nov 13, 20102 min read
Madoff Auction: Sold against?
Yet, some language in the articles caught my eye as odd. For instance, one article noted, “A leather bull foot stool — including a tail...
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