“His check bounced …! What can or should I as an auctioneer do?” To answer that, we need to know one critical piece of information: Is this theft or is this an unpaid? In other words, who is in possession and control of the subject property?
The more and more online bidding platforms are used for simulcast auctions — and in the case of pre-live auction bids being accepted — there appears to be increased confusion. We wrote about one type of such confusion here:https://mikebrandlyauctioneer.wordpress.com/2018/09/03/simulcast-auctions-how-they-work-and-how-they-dont/
We recently posted that as an auctioneer — assigning risk could [can] actually increase your risk. Here’s our prior reference:https://mikebrandlyauctioneer.wordpress.com/2018/10/18/puffing-or-representing-while-bid-calling/ and as promised, here’s our more in-depth analysis.
Essentially, any person on earth can buy from Amazon.com (or countless other online retailers.) Let’s see, what’s involved in such a transaction? Click? Yep, pretty much. No disputes, withdrawals, re-offering, reselling … just “click” and it’s yours.
Further, my neighbor who buys from Amazon all the time says that their return policy is straightforward as well — not happy? Return it. There is no question that commerce generally is moving this direction as customers demand more flexibility and ease of buying.
Kurt Bachman is a skilled attorney and auctioneer. We don’t always agree, but his recent article regarding “Does your chant create an expressed warranty,” is spot on … we wrote about puffing (sales talk) before: https://mikebrandlyauctioneer.wordpress.com/2011/11/15/puffing-versus-misrepresentation-at-auction/
We were prompted to write an article concerning bibles and flags at auction In 2014 after a number of auctioneers told us “We don’t sell bibles or flags at our auction,” or in a few cases, “It isn’t right to sell a bible or flag at auction.”
That aforementioned article can be read here:https://mikebrandlyauctioneer.wordpress.com/2014/03/03/bibles-and-flags-at-auction/
I teach real estate pre-licensing, post-licensing, continuing educaiton and exam preparation classes for Hondros College. In thos classes, students often ask what the csotmary commission is for selling real proprety; additionally, they sometimes ask what I charge to sell real property at auction.
As I’ve recently quoted otherwise on this platform, “In common law legal systems, a precedent or authority is a legal case that establishes a principle or rule. This principle or rule is then used by the court or other judicial bodies use when deciding later cases with similar issues or facts … The Latin term stare decisis is the doctrine of legal precedent.”
Today we explore an idea … let’s say we auctioneers start selling property “as-is” (caveat emptor) with absolutely no preview opportunities and worse yet conceal material facts.
Of course, caveat emptor is the principle that the buyer alone is responsible for checking the quality and suitability of goods before a purchase is made. So, with no preview opportunity how does he do that?