Benefit auctions and auctioneer escrow accounts
People attend benefit auctions for a variety of reasons — but one of those reasons is typically that their contribution …
Category Archives: Auction School
Misunderstanding effects of buyer’s premiums …
A buyer’s premium is a surcharge paid on top of the hammer price at an auction. For example, with a …
Seller bidding beyond reserve?
We start today with the fact there are [only] two types of auctions. Just as state law dictates all across …
The public and auction jargon …
This auction is absolute … we are charging a buyer’s premium … this property has a reserve; the list goes …
Advertising real property at auction & fair housing
Fair housing laws generally apply to advertisements in the newspaper, online and even on yard signs. As such, auctioneers advertising …
Online-only auction starts to close … and we have a problem
In fact, we have big problem. Let’s say we have an online-only auction with 500 lots. Per state law all …
Auctioneers and antique firearms
What is an antique firearm? How are they handled differently than other firearms? What if antique firearm uses contemporary ammunition? …
How do we know online bidders are real?
This is a question we get on a somewhat regular basis … “How do we know online bidders are real?” …
Disclosing the seller can bid at auction …
An interesting phone call came in to us the other day and we’re free to share our thoughts regarding. The …
Auctioneers and felonies
Can someone with a felony conviction be licensed in regard to an occupation? Can a felon be an auctioneer in …
Maybe selling absolute with binding opening bid?
It’s selling without reserve and we have bids … How do we know that? Because it says “without reserve” clearly …
Extraordinary liquidated damages in auction contract
I shouldn’t be surprised anymore with some suggesting the auctioneer’s terms and conditions can be extraordinarily favorable to the auctioneer, …
Auction marketing words matter
We auctioneers have been told to leave out (or not emphasize) the word “auction” in our auction advertising. The reason …
“Types” of auctions and ice cream
I quote from court cases involving auctions all the time. Court decisions are important for auctioneers to comprehend to avoid …
Auction bidder buys, takes … and doesn’t pay
Our discussion today regards a [hopefully] somewhat infrequent occurrence at personal property auctions. A bidder registers for the auction, bids, …
Auctioneers should stay in their lane
I’ve probably said it 1,000 times … auctioneers should stay in their lane. What I mean by that is … …
Different buyer’s premiums for different bidders?
It happens all the time. Onsite (live) bidders 10% buyer’s premium (BP) and online bidders 18% BP, for example. Thus, …
I’m an auctioneer and I specialize in … everything?
Let’s say I’m an auctioneer and I specialize in real estate, livestock, antiques & collectibles, intellectual property, firearms, cars, benefit …
Bidder vs buyer performance breach
Auctioneers and people selling at auction sometimes have problems with bidders and buyers. Specifically, sometimes a bidder retracts his bid …
Firearms: Guaranteed and not infringed?
The Bill of Rights comprises the first ten amendments to the United States Constitution. Virginia’s legislature became the last to …
