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Something of Value?
When it's difficult to determine what price a valuable item such as a painting, an antique, or a unique property is likely to sell for privately, people often enlist the services of a skilled auctioneer.
Going Once, Going Twice
Auctioneers sell property or goods at a public forum where they invite those present to offer their highest price for an item going under the hammer. Auctions are often highly theatrical events with auctioneers using their selling skills to encourage competitive tensions between bidders who are interested in the same item.
Auctioneers, who are employed by real estate companies, usually handle property auctions, while general auctioneers can sell any item.
David Azzopardi, a local real estate agency owner and real estate auctioneer, says that real estate auctions seem to be the fairest measure of market value.
''They enable both buyers and sellers to feel that the merchandise is being sold and bought at a genuine price.''
His sentiments are endorsed by the former Chairman of the Real Estate Institute of Western Australia (REIWA) Auctioneering Chapter, Peter Lawrance.
Secret to Success
To be a successful auctioneer, you need to understand what it is you're auctioning. It is important for auctioneers to familiarise themselves with an item(s) before an auction.
''If you misrepresent an item or don't know its true value, you can destroy buyers' confidence,'' says general auctioneer, Roger Beevis.
Getting Down To Business
Through advertising, auctioneers raise public interest well before a pending auction. Real estate and general auction contracts, which state the specific terms and conditions of each auction, are also prepared in advance.
On the day of a general auction, there's usually a flurry of activity. The items for auction have to be listed, numbered and ordered beforehand. A property due for auction will generally be open for half an hour before the auction. This allows time for public inspection and, by this stage, there's usually a sense of nervous anticipation for both the vendor and the auctioneer.
Once the bidding is under way, it's up to the auctioneer to create an atmosphere that encourages people to bid with confidence.
''You'd definitely have to be a performer, because when you stand up at an auction you're centre stage. If you're feeling flat or if an auction isn't going well, you can't let it show,'' explains Roger Beevis.
According to Peter Lawrance, auctioneering is an area where an individual who has a flair with communication is able to express his/her individuality with a high degree of professionalism and encourage competitive bidding in order to achieve the vendor's objectives.
If an item sells, the auctioneer will indicate this by dropping his/her gavel onto the platform, yelling enthusiastically, ''Sold!''
If a property fails to reach its reserve price (a figure agreed between the real estate agent and the vendor), it is 'passed in' and often put on the market for private sale.
''Of course it's really disappointing if a house doesn't sell under the hammer,'' says David Azzopardi.
Understanding What They Sell
In Western Australia, most of the general auctioneers auction household furniture, heavy machinery and a small number auction repossessed items. Most general auctioneers have an employment history strongly linked to the items that they auction. Most real estate agencies also have an auctioneering arm.
Employment prospects are average. There are only around 15 auction houses that employ in-house auctioneers in Western Australia. Auctioneers employed by real estate agencies are almost always involved in other real estate activities.
Real estate auctioneers generally work on a commission or consultancy basis, and could earn between $250 and $1,000 per auction. A newcomer to the general auctioneering business may earn a salary of approximately $30,000 which may go as high as $100,000 for a talented auctioneer with many years' experience. You could check with the Auctioneers and Valuers Association of WA (Inc) or the Real Estate Institute of WA (Auctioneering Chapter) for more information.
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