auctions

• auction - when auctioneer sells to bidders on behalf of the owner
• invitation to treat is when the item is displayed in the action room and when auctioneer starts asking for people to make offers
• when a member of the public makes a bid that is an offer
• the offer is accepted when the auctioneer drops the hammer - until this is done they can reject any bids and bidder can revoke their bid
• payne v cave - acceptance when hammer is dropped
• Harris v Nickerson - c failed to recover damages for loss suffered in travelling to a place for an auction that was cancelled
• british car auctions v wright - auctioneer was convicted of making an offer to sell an unroadworthy car but on appeal it was only an invitation to treat
• role of auctioneer - to get the best price
• auctions without reserve - means there is no minimum price that the item must go for