His rule is, “I never reopen the bidding.” In over 35 years of auctioneering, he’s not reopened a bid — not once. All of Sammy’s clients...

Simply put, when an auctioneer says, “Sold!” or uses some other customary closing, he or she denotes: The auctioneer cannot take any...

John arrives and surveys the items up for bid, checking his smart phone for item details and comparative pricing. Just then, he sees his...

The UCC 2-328 speaks to this issue in a somewhat peculiar fashion. In particular: 2-328 (4) If the auctioneer knowingly receives a bid on...

We wrote about duties auctioneers owe their clients (sellers) in 2009. As we noted then, auctioneers are special agents for their...

Bib has held over 10,000 auctions in his career — mostly livestock, farm equipment and real property. Today, Bib is holding an auction...

There are also other forced sale auctions including foreclosures, repossessions and court-ordered actions (lacking the seller’s consent)....

Today, we explore if an auctioneer can be using too few filler words. In other words, other than the current bid (the have) and the...

For instance, if an auctioneer is selling choice of twelve flower arrangements, and the high bid is $12.50, the high bidder may take one,...

Such continuing education for auctioneers is also mandated by the National Auctioneers Association for those who have attained certain...

Simply put, bidders offer an amount to the auctioneer and the auctioneer then accepts the offer if it exceeds the prior bid amount. Bids...

While it is important to note that a few of those states have slightly modified that same state law, all those states basically operate...

However, combining an absolute auction with selling choice brings us to an interesting legal question. Our question today regards the...

Since Christie’s and Sotheby’s introduced the buyer’s premium in 1975 in England, and soon after (1977) in the United States, the buyer’s...

Auctions are distinctly one of two types in the United States: “With reserve,” or “Without reserve.” If you are considering a “with...

More recently, with the advent of sales tax issues, buyer premiums, and other charges added to the final sales price, the term, “hammer...

It seems every so often a story makes the news such as this: The buyer found over $40,000 in $100 bills taped under the third drawer of...

Given this argument, we could have a different result in the total due at an auction where a buyer’s premium is charged. For instance: A...

This arrangement is known as a “guarantee and split” auction. In this type of agreement, the auctioneer guarantees an amount to be paid...

There are two parties to an auction. On the one side, there is a seller who typically owns the item, or otherwise represents the title...