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Mike Brandly, Auctioneer Blog

~ A trusted auctioneer and auction expert witness — with unmatched knowledge of both auction law and customary practice.

Tag Archives: commission

Opening an auction house

December 1, 2020

When I was attending auction school, we would go out at night to various local auction houses to practice our …

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Sotheby’s BP increase? Or not?

September 4, 2020

Sotheby’s announced recently they were instituting a new “Overhead Premium” of 1% on the hammer price to cover: The overhead …

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Auctioneer purchased my items — do I still pay commission?

July 4, 2020

A recent caller asked me, “If the auctioneer purchased my items, do I still pay commission?” My answer was, “Yes, …

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An auction net listing

May 20, 2020

Net listings are where the agent and seller agree that the agent’s compensation will be any amount over a certain …

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Who is easier to charge — seller or buyer?

March 2, 2020

Is it fair to say that seller commissions are getting smaller, and buyer premiums are getting larger? While not universal, …

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Are auctioneers who charge more better?

January 24, 2020

Auctioneer Bob charges 20% commission and Auctioneer Dave charges 30%. Our question involves if all else is equal, can one …

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Auctioneer damages and commission

November 4, 2019

If an auctioneer sold a property of some sort and then due to a breach of contract, had to sell …

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Auction buyers are increasingly buyer premium sensitive

September 11, 2019

The buyer’s premium was introduced in the United States in 1977. Since then, auctioneers have increasingly used the buyer’s premium …

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Online auctions making the seller more, or the auctioneer more?

April 3, 2019

The question today regards if an online auction is actually making the seller more — or the auctioneer more. Of …

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Bids per lot? Number of bidders placing bids?

March 14, 2019

I tried to pay attention at our last auction regarding “Bids per lot” and “Number of bidders placing bids” for …

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Misunderstanding effects of buyer’s premiums …

May 16, 2018

A buyer’s premium is a surcharge paid on top of the hammer price at an auction. For example, with a …

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Auctioneers and felonies

April 25, 2018

Can someone with a felony conviction be licensed in regard to an occupation? Can a felon be an auctioneer in …

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Different buyer’s premiums for different bidders?

April 2, 2018

It happens all the time. Onsite (live) bidders 10% buyer’s premium (BP) and online bidders 18% BP, for example. Thus, …

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The future of the MLS for auctions

March 14, 2018

The future of the MLS? The Multiple Listing Service (MLS) most real estate practitioners use? Yes, the question is: What …

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Don’t bid live — bid online?

February 26, 2018

We regularly keep an eye on online auction platforms — particularly when they lie and/or if they seem to be …

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Unfair, unreasonable, inequitable … what does it all mean?

January 8, 2018

We started a auction-related blog in 2009. The blog has focused on auction law, customary practice and related topics concerning …

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… but my seller cashed the check

December 21, 2017

As happens these days a couple times a week, I answer my phone to hear: “I’m an attorney representing an …

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‘Reasonably advantageous’ auction terms

July 19, 2017

A rhetorical question was recently posed asking if auctioneers can use ‘reasonably advantageous’ terms and conditions (in their contract with …

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Where is auctioneer CE needed? Everywhere …

June 8, 2017

In 2015 The Ohio State University (OSU) and I completed a study on auctioneer continuing education (CE) producing this document …

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Can auctioneers trust any online platform?

April 10, 2017

Auctioneers have given their data (particularly buyer data, but also seller data) to online platforms as we have partnered to …

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