When I tell people that I’m a licensed auctioneer, the first question is always the same – “So, can you do that fast talking thing?” Each auctioneer’s chant is unique, and we’re so proud of them that we show off our chants at our annual conventions – we even have contests! Award-winning auctioneers practice for years to develop a chant that is both understandable and very fast.
If you are new to auctions, the auctioneer’s chant can be confusing at first. Spend some time listening, though, and you’ll catch on soon. A good chant is made up of filler words and numbers. Filler words can range from the basic “bidding now” to the rapid-fire “bada boom bada bing.” Don’t worry too much if you can’t understand the filler – it’s not the point, and auctioneers will often choose nonsense words to fill in the gaps anyways.
Focus on the numbers you hear. The number the auctioneer repeats the most is the one he’s asking people to bid. If you are really lost, attend your first sale with a veteran buyer who can help you. Never place a bid that you don’t fully understand!
Bidding usually starts with many potential buyers, but before long things will narrow down to just two interested folks, going back and forth with the high bid. Others are always invited to jump in, though. The auctioneer may signal that the bidding is coming to a close by asking the crowd “Going once? Going twice?”, “All in? All done.” or “If you’re done, I have to be”. If no one jumps in to offer a higher bid, that sale will close with the word “Gone” or “Sold,” and sometimes a banging gavel. The auctioneer will then repeat the item number, the bidder number, and final price for the clerk’s records.
All of this happens very quickly. Auctioneers are often paid on commission, and the more they sell (and at higher prices), the more money they make. On smaller lots, auctioneers will aspire to sell an item every 30-60 seconds. At large sales with hundreds of antique tractors, the gavel will usually fall every 45 seconds-2 minutes. Of course, at a smaller sale where one of two tractors are the main event, the auctioneer will slow things down and take his time selling.
In order to speed things up on smaller, similar items auctioneers will sometimes sell items on “choice.” This means that the crowd is bidding on a per-item price, and the winner can select as many items from the group at that per-item price as he wants. Then, the auctioneer will usually offer that price to the second place bidder, who gets a chance at any items he wants at that per-item price. If items are still left, the auctioneer will either repeat this process or sell the remaining items at one group price.
Auctioneers may also try grouping and ungrouping items to see what brings a better price. I see this happen most often with tractors that come with special extras, like wheel weights, a loader or dual wheels. The auctioneer might first see what bids he can get for the items separately – first the tractor, then the extras. He will then add the winning bids for all the items and ask the crowd for a higher bid for the whole package. As long as the auctioneer explains this process before any bidding starts, this is an ethical way for him to sell these items. Be careful, though, before you bid on something sold in this manner – if the extras are attached to the tractor and sell seperately, it will often be up to you and the other buyer to figure out how to get them off!
You’ll find auction-goers to be a friendly group, so don’t be afraid to ask questions along the way if you don’t understand what is going on. A good auctioneer will also do his part to explain unfamiliar things along the way – auctioneers want people to bid confidently! Armed with the knowledge we’ve covered here, you are well on your way to becoming a capable buyer.
Next time I’ll cover some bidding strategies and techniques you can use to get the best deal on auction day. Until then – happy bidding!
Paul Johnson Williams says
I am a Licensed North Carolina Auctioneer. I think this is a great article explaining how
an Auctioneer does his job! SOLD!
Bret says
Seen a lot of tractors sell at auction and have never seen an auctioneer sell the parts on the tractor separately while they are actually still on the tractor. Would think it would open some cans of worms if different individuals end up buying different parts.