Are auctions open for being sued?

[walsh]

I am a realtor inCanada.Here in the sale of a house you can be a sellers or buyers agent representing either one,however you can represent both and in this case you are called a dual agent. In this case you must be extremly carefull to be fair to both otherwise you could be sued for misrepresentaion.The seller pays the commission but an agreement is singed so that the sellers agent gets half the commission.Here you can suggest the market value but you would foolish to gaurantee it as this could again be called misrepresentation. Lots of agents get sued for this and its not funny ,even if you win you lose.

I watched the BARRETT jACKSON auction and heard the comments stating that this so called car was worth 1 million when actually it sold for 600,000. MARKET VALUE IS DEFINED AS THE VALUE A PROPERTY OR CAR A TYPICAL SELLER WILL SELL AND A TYPICAL BUYER WILL BUY NIETHER BEING UNDER ABNORMAL STRESS. I my business the car is worth only what someone will pay for it simple as that. What happens after that is the buyers problemas I didn't anything about warranties.

My guess is that selling cars does not fall under the same rules as say the real estate business and in that case BUYER BE WARE