Reserve auction needs reserves?
The argument for with reserve auctions goes like this: The counterargument (without reserve) for many other auctioneers goes like this: …
Tag Archives: without reserve
Auctioneer reserves the right to reject any bid?
More specifically, “Auctioneer reserves the right to reject any bid from any bidder?” We would ask, does “bidder” mean “registered …
Auction bright lines and a noteworthy footnote
We’ve written before that denoting an absolute auction requires the use of “absolute” or “without reserve” — and no other …
What makes any auction work?
What makes any auction work? We’ve held well over our entire career that a successful auction must have the “prospect …
Regardless with a suggestion?
We’ve sold an immense amount of property at auction — absolute to the highest bidder. In other words, those sellers …
Absolute auction? Nope.
Yes, this was the claim. For any auction — once a bid is placed — that constitutes a minimum bid …
Courts interpreting “explicit”
We’ve held that a “bright line” defining when an auction is absolute or without reserve is horrible for the auction …
Absolute auctions and “de minimus”
Absolute auctions, by definition, involve selling to the highest bidder. So, if an auctioneer has a current bid of $750,000.00 …
Using “absolute” to define a reserve?
Where in the United States can an auctioneer legally say, “This is selling absolute over a minimum bid of …?” …
Explicit bright lines and auction malpractice
In a recent case before the Supreme Court of Virginia, parties discussed when an auction is with reserve and when …
Types or versions of auctions?
Yes, we’ve held for as long as I have been in the auction business that there are two types of …
A fixed amount of buyer’s premium?
Abby decides to attend in person an absolute (without reserve) simulcast auction as there are some items that interest her. …
Sullivan v. Max Spann
The case at the Supreme Court of New Jersey known as John C. Sullivan v. Max Spann Real Estate & …
Is a with reserve auction better for the seller?
Auctioneers often ask if there is any “proof” absolute auctions produce the highest prices for sellers. While there isn’t a …
Seller wants to (should) sell absolute …
Our question today is: “Would an auctioneer accept a seller’s property for auction and sell it absolute if the seller …
Your seller “seeing the market?”
Many auctioneers have told me that their favorite type of “with reserve” auction is a seller-confirmation auction — a right …
Properly setting up … buy backs?
I know it happens, particularly in the online auction world, but the public (other bidders) detest the practice. You consign …
Appraisals, auctions, and seller bidding
Appraisers often [rightly] use auction values as evidence of value. Yet, we wonder today if an auction with reserve (or …
Absolute, but we might not close
There’s no better way to maximize price at auction than selling at absolute auction. What is an absolute auction? It …
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.” …
Mike Brandly, Auctioneer Blog 