Real estate agents … auctioneers … and real estate auctioneers.
Auctioneers found this out years ago. The real estate community is just finding it out. What is remarkable, some of …
Category Archives: Contract law
Christie’s manifestly unreasonable terms and conditions
Christie’s is one of the world’s oldest and best known auction houses. They opened in London, England in 1766 and …
Coming in waaaaaay below the pre-auction estimate
We wrote in 2010 that (we thought) most auction houses in the United States post pre-auction estimates that are purposely …
Does the “buyer’s premium” show to the seller?
Our question today involves an auction where the auctioneer/seller is charging a buyer’s premium. For example, a lot sells for …
Simulcast auctions and the timing of bids
Earlier this year, I was asked by an attorney if I could tell — in a simulcast auction — which …
Auction terms versus auction descriptions …
I get a laugh sometimes when I review auction terms and conditions. I get an even bigger chuckle when I …
Pinhooking in the auction business
Pinhooking in general, and maybe “alley trading” if happening in real time such as right before they go in the …
Bidders, last good faith bids and recourse
We have written extensively on the UCC 2-328 and its many subtleties. In our topic today, we reference a treatise …
Auctioneer setting the bid in at the stated minimum?
A curious discussion took place at an auctioneer get-together about auctioneers setting the bid in — particularly at real estate …
Auctions where buyer won’t pay; seller won’t convey
As auctioneers, two distinct situations arise periodically in regard to property being sold: A bidder becomes the buyer and he …
Online-only auction platform goes down …
We have previously written about online auction bidding becoming unavailable: https://mikebrandlyauctioneer.wordpress.com/2017/02/06/online-bidding-goes-down/. Today, we explore if an online-only auction platform goes …
Sued because of auction sale price
We have written about auction-related lawsuits and associated sale prices before, where sellers were unhappy. Here’s one such article from …
But that other bidder was drunk
We have written before about bidders who are drugged or otherwise mentally impaired. Today, we explore the rights (if any) …
Should the auctioneer “set the [bid] in?”
Randy Wells says, “I ran a weekly auction house for 17 years and I can say that I probably started …
Can auctioneers trust any online platform?
Auctioneers have given their data (particularly buyer data, but also seller data) to online platforms as we have partnered to …
At auction without the genuine intent to sell
We’ve written extensively about auctions where the seller has the “Genuine intent to transfer to the highest bidder regardless of …
But the bidders chose to bid again …
An an auction, nobody makes (requires) a bidder to bid, although some auctioneers are known to be pretty persuasive. Given …
Car auction lights
What do those lights mean at a car auction? There is certainly no nationwide standard, but there is a pattern. …
When can auctioneers reopen the bid?
We’ve argued a somewhat strict interpretation (practicing our textualism?) of the UCC § 2-328 and the limited right the auctioneer …
Unconscionable auction terms
Jake Williams has been an auctioneer for 20 years. When asked, he would say that he, “Sells mostly anything, but …
