When has the UCC 2-328 been a bad idea?
We recently wrote that for auctioneers it’s better to stay out of court than win in court, and lots better …
Tag Archives: without reserve
Can a lot be unsold at auction?
Some questions are easier than others to answer. We think our subject question today is academic — can a lot …
More bidders or the right bidders?
The question again seems to be do auctioneers need more bidders (a larger bidder pool) or just the right two …
The “basics” of the auction business?
I published this blog on June 6, 2018 about the auction industry losing bidders due to some illegal/unethical practices: https://mikebrandlyauctioneer.wordpress.com/2018/06/18/how-the-auction-industry-lost-at-least-one-bidder/ …
That other bidder, and fraudulent inducement
Often perception is more important than reality; auctions in the United States are no exception. Thus, our question today is, …
Auctioneers … it’s A/B testing, not A testing
A/B testing is a useful tool to compare two different ways of doing otherwise the same thing … to see …
Maybe selling absolute with binding opening bid?
It’s selling without reserve and we have bids … How do we know that? Because it says “without reserve” clearly …
Auction marketing words matter
We auctioneers have been told to leave out (or not emphasize) the word “auction” in our auction advertising. The reason …
“Types” of auctions and ice cream
I quote from court cases involving auctions all the time. Court decisions are important for auctioneers to comprehend to avoid …
Auctioneers should stay in their lane
I’ve probably said it 1,000 times … auctioneers should stay in their lane. What I mean by that is … …
What drives bidders to an auction?
I believe that most auctioneers understand what drives interest in an auction and/or auction event — other than wanting or …
Is the reserve price a material fact?
Buyers at auction want to know lots of things such as the number of bedrooms, annual taxes, the horsepower of …
Bidding with a contingency … a higher bid?
I’m one of only a few people around the United States who has the immense responsibility to teach auctioneers how …
Selling absolute mandates you “reopen bids?”
Selling absolute (without reserve) dictates that the subject property is selling to the highest bidder. In other words, the buyer …
Absolute and the high bidder isn’t the buyer?
We’ve discussed “cut bids” and “refusing bids” and the like before. So, here’s the bottom line of sorts. As an …
Auctioneer may establish reasonable bid increments?
We have been discussing “cut bids” (most notably here: https://mikebrandlyauctioneer.wordpress.com/2017/11/21/as-the-auctioneer-do-you-have-to-take-a-cut-bid/) and a few states in the United States have enacted …
Can auctioneers ignore bids?
Selective hearing? I only see or hear bids I want to? I only have to accept offers which are acceptable …
What exactly does selling at absolute auction mean?
The word “absolute” in regard to auctions legally means the subject property is selling without reserve. Without reserve means several …
Negotiating with a “cut” bidder
We no more than published — and talked via the http://www.fasttalkingpodcast.com — about cut bids (https://mikebrandlyauctioneer.wordpress.com/2017/11/21/as-the-auctioneer-do-you-have-to-take-a-cut-bid/) when we received an …
As the auctioneer, do you have to take a “cut” bid?
As the auctioneer, do you have to take a “cut” bid? Maybe. But first — what is a cut bid? …
