Requirement 1 - History
Discuss with your counselor the history of auctions worldwide. Cite where these auctions were held, and the types of items sold.
A brief history:
Ever since ancient times, auctions have been found in marketplaces and public gathering areas, allowing buyers to bid and purchase on the products offered by sellers. Such gatherings could be found all around the world at the core of the local community.
An adaptation from the Greeks, the Roman Empire has been attributed to the source of what is recognized as the type of auction process known and used today. Why attribute it to them? They were the first to officially license auctioneers!
Auction culture was brought to America with the first Pilgrims and remained a popular process as the colonies gained their independence. As the US continued to grow larger, auctions remained popular within an increasing number of towns and cities.
After the Civil War, it became common for military colonels to sell off loot and surplus supplies, and since only Colonels could conduct military auctions, it became common for auctioneers to dress and be referred to as colonels. The Jones’ National School of Auctioneering and Oratory was founded in Davenport, Iowa, in 1906 to train and license professional auctioneers.
As much as the auction industry has stayed the same in some ways, there has been an expansion of what it means when someone says they are holding an auction. During the 1990s, technology such as fax machines, better cameras, the widespread use of computers, and eventual smart phones allowed auctions to join the digital age and embrace online auctions. These new digital platforms allowed auctions to take place anywhere, at any time, and be open to anyone around the world.
For an industry that has its foundation in ancient times, has embraced change as the world grew, it continues to be a vitally important method of conducting business.
Take a moment and explore:
- Search online for additional details to events and times mentioned above
- Note the differences in products sold during different time periods
- Note the differences in locations and event styles around the world (inside/outside, standing room only, seated, silent/yelled bids/bidder paddles)
- How does the product being sold affect the location and style of auction used?
Images of interest:
Auctions can be held inside, outside and online. The images below show an indoor auction with a more formalized seated arrangement for buyers.
Photo credit: Scott Schuman, Hall and Hall Auctions