Quantcast
Home / Opinion Digests / Sale of estate to auctioneer’s own company not ‘inherently unfair’ (access required)

Sale of estate to auctioneer’s own company not ‘inherently unfair’ (access required)

Although the auctioneer’s own company placed the winning bid on the real property, the sale was not “inherently unfair” because the advertising for the auction, the bidding process and the actual bidding were conducted at arm’s length. However, because the auctioneer violated state regulations, he is denied a 5% commission plus expenses. Background The sale of the ...