Mike Brandly, Auctioneer
The auction industry and enmity
It took me a while to realize that the auction industry is much like industry generally — in that like businesses are quite competitive,...
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Mike Brandly, Auctioneer
Mar 10, 20223 min read
Only the first sentence of § 1-302?
The Uniform Commercial Code § 1-302 titled “Variation by Agreement” clearly says (emphasis added:) (a) Except as otherwise provided in...
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Mike Brandly, Auctioneer
Mar 8, 20223 min read
Do your bidders feel good?
We run an auction house and know the names of upwards of 60% of our bidders who we see on a regular basis. Roger and his wife are...
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Mike Brandly, Auctioneer
Mar 5, 20222 min read
Can an auctioneer breach a contract for any reason?
Contracts between auctioneers and sellers, consignors, and consignees typically bind the principal to rightfully convey ownership,...
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Mike Brandly, Auctioneer
Mar 3, 20222 min read
Auctions, inflation, & deflation
Why does anyone attend (or otherwise place bids) at any auction? We have held for years, the likely reason (or the only reason) is the...
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Mike Brandly, Auctioneer
Mar 1, 20222 min read
Because it’s your policy?
Let’s see … what is an auctioneer’s job? To maximize price for our seller/client? To solve the seller/client’s problem? Indeed this is...
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Mike Brandly, Auctioneer
Feb 25, 20222 min read
Buyers paying more (and more) of the costs
Buyer’s premiums continue to rise. In fact, I’ve heard for years that “nobody pays any attention to them” so why not raise them? ...
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Mike Brandly, Auctioneer
Feb 23, 20222 min read
Appraisals, auctions, and seller bidding
Appraisers often [rightly] use auction values as evidence of value. Yet, we wonder today if an auction with reserve (or a forced sale)...
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Mike Brandly, Auctioneer
Feb 20, 20222 min read
Bidders and tortious interference
For years, when we (and everyone else) only held live auctions, there were often one or two somewhat infamous bidders who attempted — and...
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Mike Brandly, Auctioneer
Feb 16, 20222 min read
Berry v. The New Gainesville Livestock Auction
We were forwarded notice of the case of Byron Berry, Appellant v. The New Gainsville Livestock Auction, LLC, Appellee heard in the Court...
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Mike Brandly, Auctioneer
Feb 14, 20223 min read
Is “highest and best” selling by auction?
In very high demand, low inventory real property markets (seller markets) often listing brokers will note that they will entertain...
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Mike Brandly, Auctioneer
Feb 9, 20222 min read
Setting your auction bidder criteria
We’ve said auctioneers should treat all bidders the same — and they should. In that, we are suggesting you set your auction bidder...
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Mike Brandly, Auctioneer
Feb 7, 20223 min read
We’re selling on multiple platforms
The auction begins and there are bidders on Platform X, other bidders on Platform Y, and yet other bidders on Platform Z. In addition,...
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Mike Brandly, Auctioneer
Feb 1, 20223 min read
Deposit, Down payment, Earnest Money, Buyer’s Premiums, etc
We thought it might be a good time to define some terms auctioneers are using on a somewhat regular basis regarding real property...
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Mike Brandly, Auctioneer
Jan 27, 20223 min read
17 ways to avoid unnecessary risks
We’ve been writing and commenting regarding risk in the auction business on this platform since 2009. As a frequent auction expert...
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Mike Brandly, Auctioneer
Jan 25, 20223 min read
Buyer buys, leaves, and now auction company owns it?
It seems I hear about this all the time? An auction takes place (online and/or live) and a buyer buys an item, pays for it, and then...
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Mike Brandly, Auctioneer
Jan 22, 20222 min read
Auctioneers and secret profits
As I teach real estate law for Hondros College, we have discussed with students for many years — albeit briefly — “secret profits” … and...
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Mike Brandly, Auctioneer
Jan 19, 20223 min read
Buyer’s premiums charged, retained
Let’s see … Tracy hires an auctioneer to sell her family’s farm equipment and tools including tractors, tillage equipment, mowers, and...
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Mike Brandly, Auctioneer
Jan 17, 20222 min read
Buyer’s Premium in the contract
Auctioneers all over the United States charge a buyer’s premium (buyer’s fee or surcharge in Wisconsin) and many have such provisions in...
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Mike Brandly, Auctioneer
Jan 12, 20224 min read
Alex Lyon case and the larger issue
We continue to hold that the Alex Lyon & Son, Sales Managers and Auctioneers, Inc. v. Leach, 844 S.E.2d 120 (W.Va. 2020) case was...
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