Auctions and the chances of Alpha and Beta, etc.
In 2010 we introduced our formulas for the chances of one item at auction attracting the “most interested bidder” (Alpha) …
Category Archives: Contract law
Are we making buying at auction easier or more difficult?
It’s always been difficult — to some extent — to buy things. However today, buyers must have the money, search …
Death of a salesman?
Death of a Salesman is a 1949 play written by American playwright Arthur Miller. It concerns an over-the-hill salesman facing …
Bad auction bidder and we do what?
Sometimes auction bidders (mostly personal property) bid and then don’t pay. Some auctioneers apparently pay their seller minus commissions and …
“Professional” auctioneers shouldn’t be trusted? Really?
Are you a “professional” auctioneer? One who makes a living as an auctioneer? That would be a common definition, but …
Where is auction collusion more prevalent?
First, what is “collusion?” A somewhat common definition goes something like this … “a secret agreement or cooperation especially for …
Online auctions making the seller more, or the auctioneer more?
The question today regards if an online auction is actually making the seller more — or the auctioneer more. Of …
Bidder asks “Who is the other bidder?”
Auctions involve bidders. One bidder bids $500,000 and another bids $525,000 and so forth until a high bidder is deemed …
What is a flash [auction] sale?
I received the email, as I suspect you did. Real property being offered in a flash sale — auction. What …
What the lack of auctioneer licensing causes …
We recently wrote that there appears to be a trend to eliminate some occupational (including auctioneers) licensing across the United …
An auction that is both with AND without reserve?
There are times that I think maybe overnight I was secretly transported to another planet. I wake up and on …
Puffing and bids in bad faith
We were discussing a case with an attorney regarding the last two (2) sentences of the UCC 2-328 [basically section …
Bids per lot? Number of bidders placing bids?
I tried to pay attention at our last auction regarding “Bids per lot” and “Number of bidders placing bids” for …
The $1,300,000 or $1,510,000 bull
I had no more than walked off my plane and turned on my phone when the voice and text messages …
Auctioneers and “the” law versus “that” law
Our subject today is law. Law is discussed all over the world every minute of every day by lawyers …
A President and shill bidding
We have discussed shill bidding many times. We’ve never, however, discussed the President of the United States and shill bidding …
When is a seller’s bid a shill bid?
Some auctions allow the seller to place bids directly or through another agent (by proxy.) Specifically, in a with reserve …
Live, online-only or simulcast?
Many say that the live auction, online-only auction and simulcast auction are “tools in the toolbox” where auctioneers choose the …
Is your absolute auction being advertised/conducted as such?
I’m being told that countless auctioneers across the country contract with sellers to sell everything “without reserve” a.k.a. “absolute” and …
Online auction bidders don’t read?
I know this is probably true, and I keep hearing it from other auctioneers that it’s true so we’ll start …
