View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Cleveland-Marshall College of Law Cleveland State University EngagedScholarship@CSU Cleveland State Law Review Law Journals 1977 Auction Problems: Going, Going, Gone Leonard D. DuBoff Follow this and additional works at: https://engagedscholarship.csuohio.edu/clevstlrev Part of the Commercial Law Commons, Contracts Commons, and the Entertainment, Arts, and Sports Law Commons How does access to this work benefit oy u? Let us know! Recommended Citation Leonard D. DuBoff, Auction Problems: Going, Going, Gone, 26 Clev. St. L. Rev. 499 (1977) available at https://engagedscholarship.csuohio.edu/clevstlrev/vol26/iss4/4 This Article is brought to you for free and open access by the Law Journals at EngagedScholarship@CSU. It has been accepted for inclusion in Cleveland State Law Review by an authorized editor of EngagedScholarship@CSU. For more information, please contact
[email protected]. AUCTION PROBLEMS: GOING, GOING, GONE LEONARD D. DuBOFF* W ORKS OF ART MAY BE bought, sold, and transferred by every traditional method of conveyancing,' though the type which appears to be most notorious is auctioning.2 In this Article the auction process will be analyzed, many of the problems currently prevalent in the auction arena identified, and suggestions tendered which, if adopted, should reduce some of the difficulties discussed. I. AucTIONING AS A SELLING TECHNIQIJE In a free market system, there are generally three basic modes of con- veyancing: fixed pricing, negotiation, and competitive bidding. Determina- tion of the method to be employed depends upon the nature of the goods, their supply, an evaluation of the goods' current worth, and the characteristics or requirements of the anticipated purchaser.