 CAREERS IN THE AUCTION PROFESSION |
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An auction is a public sale in which property or items of merchandise
are sold to the highest bidder. The profession dates back many
centuries.
When most of us think of auctioneers, we immediately envision
the melodic, rhythmic chant of the auctioneer as he or she seeks
bids for each item. When all bids have been exhausted, the famous
"sold!" call closes the item's sale. |
The auctioneer then calls out the sales price and the bidding
number of the person who purchased that item.
The chant is only one aspect of a successful auction, but by far,
not the most important. An auctioneer could be appropriately be
labeled a "Master of Versatility."
The following examines the auctioneer and the multitude of skills
required to become established in this career. |
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TYPES OF SALES |
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Auctions have historically been seen as a "last resort" method
to dispose of property. However, they are currently seen as a
primary means of disposing of anything and everything imaginable.
Auctioneers also are well-known for conducting charity auctions,
which are a fast-paced and effective method of fundraising. |
The following is a sample of items sold today at auction: automobiles,
personal property, residential real estate, commercial real estate,
development properties, antiques, collectibles, coins, livestock,
farm real estate, farm equipment, heavy equipment, firearms, tobacco,
dolls, commercial equipment, restaurant equipment, business assets,
leases, special licensing permits, art, furs, jewelry, toys, exotic
animals, aircraft and manufacturers' equipment and inventory.
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NECESSARY TRAITS |
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The field of auctioneering is wide open to men and women. The
auctioneer represents the seller, and the first obligation is
to auction the seller's goods for the best market price on the
day of the auction. However, he or she must have the skill to
work with both buyers and sellers and keep everyone happy.
A strong voice is a definite asset. Bid calling for four to six
hours is very exhausting and demanding. A sense of humor helps
the auctioneer keep the atmosphere light and relieves some of
the tension of a fast-paced auction. Working a crowd of up to
several hundred people requires mental agility, the ability to
entertain people and the tact to settle disagreements and keep
the auction moving at a fast pace. |
Bid-taking assistants (ringmen) can help locate and register bids.
The auctioneer must also have strong leadership skills. Throughout
the entire process, from marketing, preparation and conducting
of the sale, an auctioneer has to see that all details are attended
to properly.
The auctioneering profession can be adapted to individuals with
various disabilities. For information, individuals should contact
their state office for vocational disabilities, state department
of labor or local employment counselors.
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EARNINGS |
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With the exception of auctioneers working as employees and contract
auctioneers, most auctioneers work on a commission basis.
Many auctioneers, especially when starting out, hold down two
jobs. |
They are paid a percentage of the sales price based on the services
they provide to the seller. Earnings vary depending on whether
the auctioneer works on a part-time or full-time basis. |
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AUCTION LOCATIONS |
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Auctions are conducted in almost every arena imaginable, including
auction barns, consignment houses, a farm yard, the front yard
of a home, a multi-lane auto facility, hotels, warehouses, civic
arenas, livestock barns and massive auction facilities. All offer
unique challenges to the auctioneer.
Although inclement weather may threaten, it can never dampen the
spirit of the auction. |
Most auctioneers use some type of public address system. Hundreds
or thousands of people may be in attendance and a good sound system
saves the voice and ensures that all can hear what is taking place
during the auction. Some auctions are audiotaped and others may
be videotaped to resolve bid conflicts and provide security for
the auction. |
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EDUCATION & LICENSING |
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To become an auctioneer, it is desirable to have a high school
education. However, more and more auctioneers are attending college
or earning college degrees.
Public speaking, leadership background and marketing experience
are useful in developing presentation skills. Technology is rapidly
moving into the industry, with computerized clerking and fax marketing,
as well as online marketing.
Most auctioneers attend an auction school to learn more about
the industry and to develop bid-calling skills. Many states require
auction school attendance for an auctioneer to be licensed. |
Licensing laws vary from state to state. Most states require a
real estate license to auction real estate. Several states require
an examination and/or apprenticeship as part of the licensing
process. Check with state officials about the laws in your area.
Information also is available from the National Auctioneers Association
in Overland Park, Kansas. Several states require annual continuing
education classes. |
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NATIONAL AUCTIONEERS ASSOCIATION (NAA) |
 Founded
in 1949, the National Auctioneers
Association (NAA) is the world's largest
professional association dedicated to
professional auctioneers. The NAA was
built by auctioneers, for auctioneers.
Headquartered in Overland Park, Kan.,
the NAA represents the interests of
thousands of auctioneers in the U.S.,
Canada and across the world.
The NAA also represents the individual
auctioneer and a range of auction
professionals servicing a variety of
industries. The association is dedicated
to providing its members with
educational programming and resources to
help them advance themselves as
professional auctioneers.
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Members of the NAA abide by a strict
Code of Ethics and are connected with an
extensive network of professional
auctioneers. As a member of the NAA,
auctioneers have access to several
benefits developed specifically to help
them grow professionally and advance
their auction careers and businesses. |
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JOB DESCRIPTION |
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The majority of auctioneers are independent businesspeople, and
often the business involves family members. Family members may
serve as bid-taking assistants, clerks, cashiers, set-up personnel,
bid callers, etc.
Others, like auto auctioneers, livestock auctioneers and tobacco
auctioneers, work on a contract basis, earning a daily flat fee
based on the services provided to the operator. A small percentage
of auctioneers work as employees of regional auction companies.
Marketing the business is a key responsibility. Nothing happens
until an auctioneer meets with the client and a sale is booked.
Effective sales skills are imperative.
An effective auctioneer must know the value of what he or she
is being asked to auction. Whether it is real estate, personal
property, livestock or equipment, the seller looks to the auctioneer
to know the value. If unknown, the auctioneer must network with
other auctioneers or business professionals to determine the value
of an item. Because of these skills, many auctioneers are called
upon to render appraisals on assets of every type. |
The auctioneer is also responsible for advertising the upcoming
sale. Knowledge of local radio, TV, newspaper and printing companies
is vital to the success of the auctioneer. He or she is constantly
challenged to find the most effective media to advertise with
limited resources to accomplish the task.
The auctioneer also is responsible for working with the seller
to prepare items for the auction. Repair, cleanup and placement
of items on display are all part of marketing the auction. Decisions
must be made whether to sell items individually or with others
in a lot. It may seem like a small detail, but it is critical
to the success of the auction.
On auction day, the auctioneer, clerking staff, cashiers and bid-taking
assistants work closely together to orchestrate the auction. It
is fast-paced, detail-oriented and demanding to auction hundreds
or thousands of items, account for all the funds, clean up the
site, provide a financial record and disperse proceeds of the
auction to the seller. Conducting a successful auction entails
many long, laborious hours of work. |
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OPPORTUNITY AWAITS
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The future for auctioneering is very good.
If you like people, are not afraid of hard work
and want to be rewarded based on your
efforts, it offers unlimited opportunity.
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