Questionable Estate Auction practice

Unless there are special laws that govern auctions, what they did was probably not legal. When you won the auction, you had a contract for sale. The only exception I can think of is if you waved certain rights in advance. Most likely that would have taken place when you registered for the auction. If they made you sign any papers that's where you would find it.

"However, the reality is that there is no practical relief you could be granted, because you didn't suffer any loss in an economic sense."

I know why you would think that but its not really relevant. Assuming there are no special laws for a case like this, or a wavier of rights by the OP, when those speakers were won by Fse, the auction company had a legal obligation to sell the speakers to him. When he won the auction, a contract was created. Beyond that, nothing else matters. Just because there was no loss doesn't mean they could just walk away from the deal. Raks, in his post is correct. If the OP decided not to pay, the auction could come after him for the exact same reason; there was a contract.

"No court is gonna take the items away from the system purchaser and Fse did not lose any $, so unless Fse asked the court to enjoin the auctioneer from that practice, there is not much else they could do."

Actually, there is something you can do. A lot of people overlook small claims court. Laws vary from state to state. Generally speaking, though, you can easily file a claim in the county where the auction was held. You would have a very good chance of winning. Also, if the auction company fails to come to trial, you win by default. Not only that, small claims court has the ability to collect money and/or issue some type of judgement on the looser even if they live far away. I can't give you more details on that because I haven't need to use small claims court in quite a while. If you are interested, there are several good books on the subject that are geared to regular people, as opposed to lawyers. The UCC is a very good reference as well.

"But what are you gonna claim? The auctioneer does not owe Fse any money. Fse did not suffer any $ loss. He lost the opportunity to buy something. The auctioneer no longer has the item so he can't sell it to Fse at any price."

I know that sounds like a reasonable way to look at the situation, but there's more to it than that. In this case, you wouldn't be suing for damages. Its not something like a slip and fall where the person that slipped didn't get hurt and wants to collect something anyway. In Fse's case, he would be suing for breach of contract. He can claim damages at some point as a result of the breach, but the fundamental reason for bringing the suit in the 1st place is different. When Fsc won the auction, the speakers were his contractually. The transfer of ownership of the speakers would be complete on payment. When the auction company sold those speakers to someone else, they sold property that wasn't theirs. And that's the real issue. The auction company sold Fsc's speakers, literally.

Just to clarify and give an example, this is what I would do if this happened to me. I would file a suit in small claims court and I would ask for: The auction company to sell me the speakers at the price I won them for, to ship them to me for free, that they arrive in the same condition they were in when I bought them, $5000, all court fees and liquidated damages if allowable. Once I did this, the auction company would almost certainly settle with me for some type of reasonable amount before this would even go to court. If it did make it to trial most likely the judge would start with speakers and if auction company couldn't produce them, they would go down the list to find some type of settlement that would be fair.

To make a long story short, small claims is a very powerful tool that most people overlook. If anyone is interested, I know I have some books on the subject somewhere. Just post and I'll see if I can find the name's and author.