Opening an auction house
When I was attending auction school, we would go out at night to various local auction houses to practice our …
Tag Archives: commission
Sotheby’s BP increase? Or not?
Sotheby’s announced recently they were instituting a new “Overhead Premium” of 1% on the hammer price to cover: The overhead …
Auctioneer purchased my items — do I still pay commission?
A recent caller asked me, “If the auctioneer purchased my items, do I still pay commission?” My answer was, “Yes, …
An auction net listing
Net listings are where the agent and seller agree that the agent’s compensation will be any amount over a certain …
Who is easier to charge — seller or buyer?
Is it fair to say that seller commissions are getting smaller, and buyer premiums are getting larger? While not universal, …
Are auctioneers who charge more better?
Auctioneer Bob charges 20% commission and Auctioneer Dave charges 30%. Our question involves if all else is equal, can one …
Auctioneer damages and commission
If an auctioneer sold a property of some sort and then due to a breach of contract, had to sell …
Auction buyers are increasingly buyer premium sensitive
The buyer’s premium was introduced in the United States in 1977. Since then, auctioneers have increasingly used the buyer’s premium …
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 …
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 …
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 …
