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 …
Tag Archives: commission
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 …
Auctioneers and felonies
Can someone with a felony conviction be licensed in regard to an occupation? Can a felon be an auctioneer in …
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, …
The future of the MLS for auctions
The future of the MLS? The Multiple Listing Service (MLS) most real estate practitioners use? Yes, the question is: What …
Don’t bid live — bid online?
We regularly keep an eye on online auction platforms — particularly when they lie and/or if they seem to be …
Unfair, unreasonable, inequitable … what does it all mean?
We started a auction-related blog in 2009. The blog has focused on auction law, customary practice and related topics concerning …
… but my seller cashed the check
As happens these days a couple times a week, I answer my phone to hear: “I’m an attorney representing an …
‘Reasonably advantageous’ auction terms
A rhetorical question was recently posed asking if auctioneers can use ‘reasonably advantageous’ terms and conditions (in their contract with …
Where is auctioneer CE needed? Everywhere …
In 2015 The Ohio State University (OSU) and I completed a study on auctioneer continuing education (CE) producing this document …
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 …
Who can sign?
In the old days, auctioneers operated more-or-less on a handshake. Seller wanted to sell, and the auctioneer said, “okay” and …
Auctioneers profiting from illegal seller bidding?
It has been suggested that, for example, if an auctioneer has it in his contract that if the seller bids …
Auction performance fees
What is an auction performance fee? It would appear to be a fee an auctioneer earns if he or she …
State auctioneer boards’ liability
They are called, “boards” and/or sometimes, “commissions.” They are typically made up of auctioneers with some sort of minimum years …
The sliding scale versus the incremental scale
Auctioneers often discuss with sellers the potential sale of a wide variety of items — maybe, for example, a collection …
Your bidding today will include a 10% buyer’s premium
In my travels, I talk with various auctioneers around the country. Not surprisingly, those discussions often involve the “buyer’s premium.” …
Seller commission or seller premium?
Since Christie’s and Sotheby’s introduced the buyer’s premium in 1975 in England, and soon after (1977) in the United States, …
Auctioneer doesn’t pay full price?
We’ve run an auction house for 15 years. We have an auction every Wednesday at 5:30 p.m. We previously wrote …
When, exactly, can the auctioneer take his commission?
An auctioneer signs a contract with a client (seller) to conduct an auction on Saturday. The fee is a percentage …
