[meteorite-list] AUCTION POLICIES & TECHNIQUES

From: Count Deiro <countdeiro_at_meteoritecentral.com>
Date: Sun, 6 Feb 2011 14:09:54 -0800 (GMT-08:00)
Message-ID: <12022119.1297030194726.JavaMail.root_at_mswamui-bichon.atl.sa.earthlink.net>

Goes without saying. That was sad.
Count Deiro


-----Original Message-----
>From: Michael Gilmer <meteoritemike at gmail.com>
>Sent: Feb 6, 2011 2:06 PM
>To: Count Deiro <countdeiro at earthlink.net>
>Cc: imca at imcamail.de, meteorite-list at meteoritecentral.com
>Subject: Re: [meteorite-list] AUCTION POLICIES & TECHNIQUES
>
>Hi Count and List,
>
>So I guess this means that when selling artwork, one should remove it
>from the mailing tube during bidding?
>
>Best regards,
>
>MikeG
>
>
>On 2/6/11, Count Deiro <countdeiro at earthlink.net> wrote:
>> Dear List,
>>
>> I realize that this post is going to be painful and embarrassing for some to
>> read, but more than a few attending and watching the auction last night were
>> confused and critical of how it was conducted. Today more than a couple of
>> Listers have asked on line for clarification of generally accepted auction
>> policies.
>> As I am uniquely qualified, not only as a participant in this auction, (I
>> was bidding over the phone while watching on Ruben?s streaming video) but a
>> professional auctioneer with over thirty five years of experience, I will
>> offer these criticisms and explanations.
>>
>> I owned and have operated some of the largest auction firms in the nation
>> since receiving my Certified Auctioneer Institute professional designation
>> from Indiana University in 1985. Prior to that, I attended Missouri Auction
>> School and served an apprenticeship at Sothebys in New York. I became
>> licensed in eight states. I was the Charter President of the Nevada State
>> Auctioneers Association. My firms have sold, and I have gaveled down, over a
>> billion dollars in real and personal property, even some meteorites at this
>> auction last year. I have sold my auction interests to family members and
>> have been of counsel to our firms and other companies for the past 15 years.
>>
>> So the qualifying remarks having been made?here we go:
>>
>> SOME (NOT ALL) AUCTION POLICIES AND TECHNIQUES
>>
>> Auctioneers have a legal fiduciary obligation to Consignors.
>>
>> They should be knowledgeable of the items they sell and should be able to
>> pronounce names and make accurate descriptions.
>>
>> An auctioneer has to know the retail value of every lot and have examples to
>> quote to the audience, so that he can open the bid at a sum that encourages
>> bidders to bid on the money. Opening a $500 item at $20 is incompetence.
>> Getting an opening bid that is off the money...say $100 on a $500 item and
>> then asking for $120 instead of $200 is something you learn not to do the
>> first day at auction school.
>>
>> It is critical that auctioneers make the audience believe they know what
>> they are selling, and what it?s worth, so that bidders will have confidence
>> to bid what is being asked. Failing to answer legitimate questions from
>> bidders ruins credibility.
>>
>> Never say ?I have $200?. Auctioneers don?t have anything. Better to say ?at
>> $200?, or $200 is bid.?
>>
>> Taking a bid from an opening bidder, and then acquiring another bid and then
>> not go immediately back to the opening bidder is insulting to him. Work the
>> first to bidders dry?then take a competing bid. Saves time and respects the
>> first bidders.
>>
>> All auctioneers should employ trained ring persons. They are invaluable in
>> encouraging bidders, showing lots, and answering questions like ?where we
>> at?? or ?what?s the bid??
>>
>> It is not accepted practice for an auctioneer to bid on his own behalf, even
>> if he does not own the goods being sold. If he does, he should never
>> announce the fact, as it tends to discourage bidding and hurts his
>> consignors and credibility.
>>
>> He should have several house numbers to sell a passed lot to, or a lot that
>> didn?t meet an undisclosed reserve, or a lot he has bought.
>>
>> Do not disclose reserves. Do not announce the mail in bids. Give the mail
>> bidder a number and use it as if in the audience. If you disclose the mail
>> in bid maximum before selling the lot you are in deep kimchee.
>> Phone bids should be handled by staff, with a bidder number and the
>> auctioneer should not say ?on the phone?. Merely acknowledge staff?s raised
>> hand. You sell to a number?not a person.
>>
>> As a general rule do not identify bidders by calling out their name. It can
>> do no good and may stop a bid because of a personal issue.
>>
>> Bid calling is an art form. One should develop a pleasing appearance and
>> voice. Use rhythm chants on small amounts and walking chants on the big
>> numbers. The audience gets comfortable in following you and entertained and
>> the sale moves quickly.
>>
>> Start on time and be prepared. Inform the audience of the order of sale and
>> the terms and conditions before calling for the first lot.Introduce your
>> staff and mention who to see for check out and pick up.
>>
>> Arrange lots to develop and keep interest and drama. Don?t bunch smalls one
>> after the other?bidders will get bored and not bid on these items hurting
>> the consignor. Scatter smalls through the sale.
>>
>> Don?t place late entries at the end of a sale. Give them the respect they
>> deserve and place them through the sale by saying ?additional lot number so
>> and so?. Give a proper description. If you add undisclosed lots at the end
>> of a sale you will have lost the bulk of the bidders and hurt the consignor.
>> Tell the audience that there are late entries scattered through the sale and
>> that they are on display at the front.
>>
>> It is absolutely necessary when selling small items such as meteorites to
>> have as much of a preview period as possible and during the sale, either put
>> them up on screen, or run them through the audience with ring persons.
>>
>> Ring persons should know to run the lot being bid on from bidder to bidder
>> not to non participating audience members.
>>
>> Remember! An auctioneer is a third party intermediary between seller and
>> buyer who has been paid to be knowledgeable in auction advertising,
>> promotion and conduct, knows intimately the lot and its value and is beyond
>> criticism of his business methods..
>>
>> We could go on and on?.but these are some of the absolute necessary policies
>> and techniques. There have been books written.
>>
>> Count Deiro
>> IMCA 3536 MetSoc
>>
>>
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>
>
>--
>----------------------------------------------------------------------
>Mike Gilmer - Galactic Stone & Ironworks Meteorites
>
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Received on Sun 06 Feb 2011 05:09:54 PM PST