Profession auctioneer

Auctioneers conduct auctions by accepting bids and declaring goods sold.

Personality Type

• Enterprising / Conventional
• Enterprising / Investigative

Knowledge

• Items specialty available for auction

  Nature of the items to be auctioned such as overstock furniture, real estate, livestock, etc.

• Auction characteristics

  Specifications of auctions and different auction types, e.g. open vs. closed auctions; bidding strategies such as chandelier bids, bid shading, etc.

• Product comprehension

  The offered products, their functionalities, properties and legal and regulatory requirements.

Skills

• Create auction catalogue

  Compose auction catalogues with current items up for auction; include recent pictures and terms and conditions of the sale.

• Initiate contact with buyers

  Identify buyers of commodities and establish contact.

• Perform auction chant

  Perform bid calling and develop an individual style with filler words and variable speed of speech.

• Initiate contact with sellers

  Identify sellers of commodities and establish contact.

• Arrange security of goods for auction

  Arrange transportation, insurance, and safety and security regulations for goods to be sold at an auction.

• Present items during auction

  Describe auction items; provide relevant information and discuss item history and value in order to encourage bidding.

• Keep records of bid history

  Keep records of all the bids made during or after an auction.

• Set auction listing agreement

  Set up a contract executed by the auctioneer and the seller; list the terms of the agreement and the rights and responsibilities of every party involved.

• Build business relationships

  Establish a positive, long-term relationship between organisations and interested third parties such as suppliers, distributors, shareholders and other stakeholders in order to inform them of the organisation and its objectives.

• Advertise auction sales

  Promote auction sales on radio and TV, in trade magazines, online and via catalogue distribution and other channels.

• Close sales at auction

  Officially declare the items sold to the highest bidder; obtain the buyer's personal details in order to close the contract after the auction.

• Apply numeracy skills

  Practise reasoning and apply simple or complex numerical concepts and calculations.

• Select items for auction

  Research and select products to be auctioned.

• Prepare for auction

  Identify and set up location for auction; prepare and display auctioned items; prepare the auction room by setting seats and microphones.

• Facilitate the bidding process

  Set the starting bid for items to be auctioned, and continue to ask for more bids; stimulate buying desire of bidders.

• Comply with legal regulations

  Ensure you are properly informed of the legal regulations that govern a specific activity and adhere to its rules, policies and laws.

• Tolerate stress

  Maintain a temperate mental state and effective performance under pressure or adverse circumstances.

Optional knowledge and skills

Source: Sisyphus ODB