You don’t conduct absolute auctions?
Auctions are of two distinct types: “With (some sort of) reserve, or without (any such) reserve, also known as “absolute.” …
Tag Archives: UCC 2-328
Auctioneers: This could happen to anyone
You type in the “address” bar the website you want, and it’s not there. You see that your online auction …
Sell absolute and end up in court?
I hear this on a somewhat regular basis … “Don’t hold absolute auctions so you can stay out of court.” …
Is that really the seller bidding?
Almost every week we receive a call, asking essentially “Can the seller bid disguised as another genuine bidder?” State law …
Auctioneers, the law says … and
Treat sellers, bidders, and buyers with good behavior? Endeavor to be fair and reasonable? Are these good thoughts to have …
Which is better for the seller? Absolute? With reserve?
There are dozens of academic research papers (and maybe not many more) concerning with reserve auctions versus without reserve (absolute) …
The three big auction warranties
Steve Proffitt wrote in 2007 that there were at least three warranties made in auctions, as provided for in the …
Court cases and one important lesson
… in 2015 the Superior Court of the State of California (Orange County) in a jury trial found that the …
Hollow illusions at auction
There is very little that gets the attention of an auction buyer more than being awarded the property (the “bid”) …
What this sign means …
We’ve been asked what this sign means 100’s of times … and it could mean several things: The car sells? …
Absolute auction … and how many bidders is enough?
Absolute auctions [should] constitute the “genuine intent to transfer to the highest bidder regardless of price.” However, if there are …
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 …
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 …
Curious auction terms & conditions
Many auctioneers (and sellers) sell property without reserve (absolute) in order to increase the number of bidders and associated prices. …
Is it an auction or an auction?
Laws and regulations around the United States are not in unison. Most laws use the word “auction” meaning an auction …
“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 …
Bids that can/can’t be placed at auction
We have written about who cannot bid at an auction more than once. Today, we hope to write about that …
Is the minimum bid really the minimum bid?
What does this sign say? It says the minimum speed is 40 miles per hour. So, what if you are …
When can the seller bid without recourse?
Auctioneers around the United States have held since the forming of this country that at auction, the seller can bid …
“Professional” auctioneers shouldn’t be trusted? Really?
Are you a “professional” auctioneer? One who makes a living as an auctioneer? That would be a common definition, but …
