The integrity of the bidding process
Our topic today specifically regards bankruptcy auctions, but applies equally and reasonably to any type of auction anywhere in the …
Tag Archives: contract
Does it cost to register?
Auctions require bidders. Bidders are often required to register in order to get a bid number, allowing them to participate. …
‘Reasonably advantageous’ auction terms
A rhetorical question was recently posed asking if auctioneers can use ‘reasonably advantageous’ terms and conditions (in their contract with …
Bid calling really does matter
In 2013, we wrote that “Bid calling matters” suggesting that the particular live auctioneer who is taking bids can — …
Auctioneers, auctions and title
Simply put, auctioneers need to be concerned with title (ownership) of that they are selling at auction. The burden of …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
Can auction bidders pay too much or over value?
We have two questions here: One, can bidders pay too much? Second, can they pay over value? Quite frankly, we’re …
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 …
