History- Part 1

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History of Auctions:

Auctioneering is the oldest profession. History of Auctions

Ancient Greece:

Selling Women for Wives Descending method of auctioneering Merchandise guarantee Less attractive women also sold Ancient Greece 500 B.C.

Rome (Marcus Aurelius):

Furniture sold at auction Roman soldiers sold war plunder “Magister Auctionarium” – licensed auctioneer “Dorminus” - seller “Argentaurius” - auction event organizer “Praeco” – advertised auction “Emptor” – buyer at auction Rome (Marcus Aurelius) 30 A.D.

Middle Ages & European Auctions :

Deceased Monk’s belongings Auctions in Holland King Henry VII Middle Ages & European Auctions 7 th – 16 th Centuries

English Auctions :

Auctions became larger events Held in inns, coffee houses, etc. advertised in periodicals Permanent auction houses started James Christy, Samuel Baker (Sotheby's) 1750 English Auctions 17 th – 18 th Centuries

English Auctions Continued:

1674 English auction – first recorded auction March 7, 1739 – London Evening Post – first recorded real estate auction English Auctions attended mainly by dealers – Pooling. Reserves English Auctions Continued

Auctions in America:

1600’s Pilgrims – sold furs, crop imports, livestock, etc. 1617 – Dutch traders sold slaves on auction block (Jamestown) All types of natural commodities Open Competitive Bidding without reserves Auctions in America Colonial

American On Site Auctions:

Onsite Auctions with local marketing 1828 Urban Merchants try to outlaw Auctions American On Site Auctions

American Auctions:

1860 – Civil War colonels Auctioneers tools included the red flag, gavel/hammer, bell, cane, Colonel hat American Auctions

American Auctions Continued:

1876 – Antique furniture popular at Centennial year 1883 – First fine art – New York City American Auctions Continued

20th Century American Auctions:

1904 – Start of Associations – International Auctioneers Association 1904 - Real Estate Auctions – New York (50% of New York real estate is sold at auctions) 1904 – Auction schools started 20 th Century American Auctions 1900s