Hoffman v. Horton
Virginia Supreme Court
186 S.E.2d 79 (1972)
At a foreclosure auction, Hoffman (plaintiff) bid $177,000, and the auctioneer struck his fist to signal acceptance after no further bids appeared forthcoming; a trustee then reported that a $178,000 bid had actually been made before or simultaneously with that gesture, though the auctioneer himself hadn't seen or heard it. The auctioneer reopened bidding over Hoffman's objection, and the property ultimately sold to Hoffman for $194,000; Hoffman paid under protest and sued for the $17,000 difference, and the trial court found the higher bid had indeed come in before or with the fist's fall and upheld the reopening.
Whether an auctioneer may reopen bidding on real property when a higher bid is submitted prior to or simultaneously with the fall of the auctioneer's fist accepting a lower bid.