Why is it in every auctioneer’s interest to treat their bidders in a reasonable fashion? As Peter Gehres so aptly notes, so those bidders participate in that auctioneer’s next auction, and help to maximize the next seller’s position.
Unless you as an auctioneer plan to only conduct one single auction, your behavior (policies) especially matters. I happen to know four such auctioneers who held one auction — and reopened “tied” bids, disclaimed all warranties, withheld facts about the property …
This was their last [successful] auction. All four are now working in other industries.
You may want to think of this another way: Why are bidders participating in your auction today (live, online, simulcast?) Other than wanting what you are putting up for bid, many are participating because they know you and were treated well at your last event.
A few weeks ago, I tried eating at a new restaurant down the street, but it didn’t go well. They were out of key items, short on flatware, understaffed, and the food quality was less than expected; I’ve not been back since. Yet, another restaurant near us is consistently outstanding, and we ate there again just the other day.
Let’s keep score: New bad restaurant: Once. Great restaurant: Over and over again.
Maybe the question is: Are you as an auctioneer building a business or just having auctions? When building a business, you depend on future business whereas if you’re just having auctions, you likely need to keep finding new bidders to keep afloat.
In the spirit of being in business, you likely know bad news travels much faster than good news. Bidders who are treated poorly tell many others which damages your next seller — that is, if you have a “next” seller.
Treating bidders better — reasonably — results in them returning to your next auction and possibly encouraging others to do the same.
The most valuable asset auctioneers in business have is their brand or reputation. A good reputation can provide for years of successful auction events and many happy sellers. It’s in any seller’s interest to choose auctioneers with a good brand and reputation.
If you remain curious, a good brand or reputation can result from acting in good faith, with diligence, reasonable, and with care. We’ve written about such: https://mikebrandlyauctioneer.wordpress.com/2021/04/22/good-faith-diligence-reasonableness-and-care/.
Mike Brandly, Auctioneer, CAI, CAS, AARE has been an auctioneer and certified appraiser for over 30 years. His company’s auctions are located at Mike Brandly, Auctioneer, Brandly Real Estate & Auction, and formerly at Goodwill Columbus Car Auction. He serves as Distinguished Faculty at Hondros College, Executive Director of The Ohio Auction School, and an Instructor at the National Auction Association’s Designation Academy and Western College of Auctioneering. He has served as faculty at the Certified Auctioneers Institute held at Indiana University and is approved by The Supreme Court of Ohio for attorney education.
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