Collectable cars auction

AUCTIONEERS: HOW TO READ AND ENGAGE BUYERS

One of the least known facts about live auctions is the ability of auctioneers to "read the room" and determine who the main bidders are while gauging bidders' triggers that will help them to secure the items they want at a price they are prepared to pay.

Whether a room is full of bidders who are serious investors or first timers, it is the responsibility of the auctioneer to get the best market-related price for each item to fulfill their mandate to the seller.

A good auctioneer needs to be entertaining enough to hold the attention of the crowd as well as disseminate required information about the items they are selling to enable them to highlight key selling points to help bidders make their decisions more effectively.

The South African Institute of Auctioneers (SAIA), the professional body representing the country's top auctioneers, says engaging the services of a professional auctioneer is critical to getting the best prices for the assets that are being disposed of.

National secretary Sonja Styger says the purpose of an auction is to get the best market-related prices for assets for disposal and to do so in an ethical and transparent manner.