The exact date and time that auctions were first organized is not
exactly known. Historians agree on one thing - auctions have been around
for a very long time.
In the fifth century, the Greeks held auctions to sell physically mature
women to the highest bidder for the purpose of marriage. Obviously, the
women with special beauty were subject to the most vigorous bidding and
the prices paid were high. Owners of the less attractive women had to
add dowries or other monetary offers in order to make the sale.
The Romans were the first to organize sales of goods at auction.
Auctions were used as an organized process of disposing and marketing of
goods produced in the area. The auction method was also used to sell
items seized during wars with rivals.
The Chinese used auctions to sell surplus property to raise money for
their religious leaders and temples. They seemed to use similar steps
toward planning and managing a sale as we do today.
The British organized regular auctions of books and art in the 1600's.
The sale of goods at "public outcry" seemed to be a normal method of
selling general goods. Catalogs of auctions in England have survived the
times. The terms "auction" and "public auction" appeared in English
writings in the late 1600's.
As American culture began to evolve in the 1700's, the methods of the
English came to America with English immigrants. Because there was no
thriving economy, there was very little place for auctions and
auctioneers. The only time that auctions seemed to be necessary were
times when property needed to be sold to satisfy debts or for nonpayment
of taxes. The stigma of selling at "forced sales" attached itself to the
auction business for centuries.
Slavery did not help the reputation of auctioneers. Public sales of
slaves helped fuel the largest slave market in the western world.
Selling slaves at "public outcry" began in Virginia and quickly spread
south.
When the Civil War erupted, auctioneers found themselves without a
product to sell. Many migrated further west. Others followed the troops
and sold property that remained after the battle. This practice probably
did more to degrade the auction method than any other single act.
As the Civil War progressed, many troop battalions made a practice of
seizing property of land owners and merchants as they marched.
Contraband would be collected and carried to a favorable area, then the
Colonel or commanding officer would sell the goods at public sale. The
sales were not very ethical and did nothing to help the already damaged
image of the auctioneer.
Even after the Civil War, military Colonels traveled to sell surplus
army goods and seized goods. Auctioneers followed some of the same
trails and dressed similar to the army Colonels to such an extent that
the public began to recognize auctioneers as "Colonel." This title of
"Colonel" stuck and is still used to refer to auctioneers today.
As the country licked its war wounds, auctioneers traveled to larger
cities and ports to apply their trade. Selling goods off merchant ships,
disposing of damaged goods, and selling estates became the mainstay of
the business. Auctioneers were regulated to selling anything they could
get. They were successful in making money, but were not so successful in
helping their reputation and image.
The auction business remained in the same rut through the remainder of
the 1800's and through the first half of the 1900's. The business began
to make great strides after World War II when businessmen began to see
an opportunity to use the auction method as an alternate marketing tool.
The sale of goods and real estate at private sale was booming in the
post war period. There was a need in certain cases to move real estate
and personal property faster than the private market would allow. The
modern auction business was born.
Now businessmen in business suits and ties began to nurture the business
and raising the reputation to a higher plane. Nashville and Middle
Tennessee became the nucleus for this transformation. Auctioneers now
had business links to banks, attorneys, accountants, the court system,
government agencies, and the public. The Middle Tennessee area became a
hotbed of auction activity and remains one of the hottest auction
markets in the world today.
Nashville Auction School (NAS)
112 W. Lauderdale St., Tullahoma, Tennessee 37388
1-800-543-7061 Fax: 1-931-393-3241
e-mail: nas@learntoauction.com
