Title transfers on, “Sold!?”
The default position of the Uniform Commercial Code appears to say that title is transferred at auction upon, “Sold!” It’s …
Tag Archives: contract
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 …
Contract provisions — the foreseen vs the unforeseen
We previously wrote about force majeure clauses in regard to unforeseen circumstances — for instance war, strike, riot, crime, plague, …
Sharing auctioneer contracts …
Auctioneers have lots of questions about contracts. We’ve suggested there are basically three (3) types of auctioneer-related contracts: (1) auctioneer/seller …
The Kentucky “Tie Bid” mess
We’ve argued that “tie bids” don’t (can’t) exist, and many delight in reminding everyone that they do exist in Kentucky …
Auctioneers & force majeure clauses
In light of the current Coronavirus pandemic, I’ve been party to discussions regarding “force majeuer” clauses. What is “force majeure?” …
Does auction law have to catch up with technology?
Personally, I find the statement, “The [auction] law has not quite caught up to technology” facinating and interesting. Yes, some …
Is being an auctioneer like gambling?
Gambling is the wagering of money or something of value (referred to as “the stakes”) on an event with an …
The question was, “Can I bid what I want to bid?”
For the vast majority of auctions in the United States, the auctioneer suggests a bid (invites an offer) and the …
Auction cancellation fee that is fair
It’s always a good reminder for auctioneers — your contracts, terms, conditions, policies, etc. likely need to be “fair” (maybe …
Bad weather draws crowds?
There’s somewhat of an old saying in the auction business: “The worse the weather, the bigger the crowds …” The …
Auctioneers not producing records
Many auctioneers licensed by the state in which they operate are required to maintain records (contracts, advertising, settlement statements, etc.) …
Give yourself a raise?
We have previously written and talked about promoting oneself as an auctioneer. The typical conversation centers on selling the low …
“Sold!” shouldn’t be a lie
Here’s the problem. The law allows (but does not require) auctioneers to lie. We can indeed say, “Sold!” (in certain …
Auctions which are — or not — fair, balanced, reasonable
What would fair, balanced and reasonable auction terms and conditions look like? What does current law say about that? The …
John Stephen Proffitt III and your right to reopen the bid
John Stephen Proffitt III (widely known as Steve Proffitt in auction circles) — attorney at law and auctioneer — proposed …
“The chant is not important”
J. Stephen Proffitt III, Esq. (commonly known as Steve Proffitt) said it. I found such in a state auctioneer magazine …
Cheaper and easier to work without an auctioneer license?
Some occupational licenses are difficult to obtain. In a few states, a simple manicurist license takes 6 years to secure. …
Auctioneer damages and commission
If an auctioneer sold a property of some sort and then due to a breach of contract, had to sell …
Setting the bid in …
We had previously written about auctioneers “setting the bid in” where they bid first and then ask for a higher …
