Absolute auctions and “de minimus”
Absolute auctions, by definition, involve selling to the highest bidder. So, if an auctioneer has a current bid of $750,000.00 …
Category Archives: Contract law
Using “absolute” to define a reserve?
Where in the United States can an auctioneer legally say, “This is selling absolute over a minimum bid of …?” …
Explicit bright lines and auction malpractice
In a recent case before the Supreme Court of Virginia, parties discussed when an auction is with reserve and when …
Types or versions of auctions?
Yes, we’ve held for as long as I have been in the auction business that there are two types of …
Could “worth” be an expressed warranty?
We have been in the auction and appraisal business for decades. We’ve written about the appraisal industry many times and …
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. …
Waiving bidder requirements?
Can an auctioneer/seller set the terms and conditions for auction registration, and then allow another bidder to bid who doesn’t …
Auctions regardless …
I see the use of the word, “regardless” every day in the auction business. For instance: In the spirit of …
Bound by terms I can’t comply with?
We have tried to help auctioneers understand that setting the terms and conditions for your auction, and then sticking to …
Auctioneers: The expression of one …
In the case known as United States v. Barnes, 222 U.S. 513 (1912) (Supreme Court of the United States) the …
Expressed, implied, and fitness
An auctioneer might express what something is, be in the business of representing such property, or suggest (imply) what something …
Everything isn’t a “license” law issue
Some auctioneers lament that there is “shill” bidding in the auction industry — for example — and reply essentially, “Well, …
Disclosing your agency
With any type of agency relationship, the agents should always disclose to others their status as someone’s agent before engaging …
Is it “merger” time in the auction industry?
This auction company is merging with this other auction company “to serve our clients better” and that’s typically the given …
Sullivan v. Max Spann
The case at the Supreme Court of New Jersey known as John C. Sullivan v. Max Spann Real Estate & …
Your auction platform is down, so …
Auctioneers use a variety of platforms to host their own websites, provide for online bidding, and/or to disseminate a variety …
Auction laws that are vague
I’ve repeatedly held that state and federal legislatures (and relatedly governors/presidents) aren’t terribly good at writing law, which is often …
May attempt to describe?
We’ve noted that auctioneers cannot disclaim expressed warranties, and shouldn’t disclaim implied warranties, but many mistakenly continue to do both. …
No liability for accuracy, errors, or omissions?
Let’s see … an auctioneer is selling some real property at auction. He advertises that this subject property is about …
Is a with reserve auction better for the seller?
Auctioneers often ask if there is any “proof” absolute auctions produce the highest prices for sellers. While there isn’t a …
Mike Brandly, Auctioneer Blog 