Profession auctioneer

Auctioneers conduct auctions by accepting bids and declaring goods sold.

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Personality Type

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

art history use different communication channels speak different languages exude enthusiasm during the auction sessions manage staff identify new business opportunities apply conflict management