Auctioneers conduct auctions by accepting bids and declaring goods sold.
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- 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.
- 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.