Auctioneers value items, including antiques, paintings, cars, property and livestock, and then sell them in a public space. The people in the audience offer ever-increasing prices and the auctioneer sells the item to the person offering the highest price.
The Work
You are likely to specialise in one particular area, broadly categorised as; moveable items, such as antiques, cars and machinery; livestock; property and land.
You could be:
examining each item and judging its value
agreeing a price which will profit both the seller and the auction house
producing and distributing brochures describing items, particularly for a big specialist sale
booking a venue and arranging advertising for the sale
organising insurance and transport for goods
presenting and describing each item in turn to the audience
watching the audience, calling out their bids and taking bids on the phone and internet
ending the sale when the highest offer is accepted
working out commission earned on sold items and completing paperwork.
Pay
The figures below are only a guide. Actual pay rates may vary, depending on:
where you work
the size of company or organisation you work for
the demand for the job.
Salaries might start at around £22,000 - £25,000 a year for new entrants. With experience, this can rise up to around £40,000 a year. Senior managers can earn up to £60,000, sometimes more. Self-employed auctioneers depend on commission for their income.
Conditions
You will work in an office and in salerooms, but may travel about visiting clients and sites.
If you are selling farm goods you may work outdoors in all weathers.
You will sometimes work in the evening and at weekends.
You can get in by various ways and entry is very competitive.
Knowledge of, experience in and contacts within the specialist field are more important than paper qualifications.
You usually need a degree (SCQF Level 9-10) relevant to your area of expertise to work in a major auction house, such as fine art or property management.
You could start as an assistant in an auction house, getting experience and on the job training — you do not usually need qualifications.
After your degree you may get onto a graduate training scheme such as those run by Christie's or Sotheby's.
Livestock auctioneers generally come from an agricultural background.
What Does it Take?
You need to have:
a strong clear voice
a good knowledge of the items to be auctioned
confidence and the ability to make decisions
sound judgement
a good memory to identify items and remember how much similar items have sold for
an eye for detail
good communication skills
business awareness
good concentration and observation skills.
You need to be able to:
work under pressure
be alert and think quickly
do calculations quickly.
Training
If working in the area of property sales, you can study for the professional exams of the Royal Institution of Chartered Surveyors (RICS).
The RICS website gives details of recognised part time and distance learning courses.
Sotheby's Institute of Art in London offers a range of courses from masters' degrees (SCQF Level 11) to one-day specialist seminars. Some short courses are available online.
Getting On
To be successful you have to develop contacts in the auctioneering business. You might then be able to move from a smaller firm into a large, prestigious auction house.
As a fine arts auctioneer in a larger auction house, you could become a specialist in a particular area — perhaps furniture, books, works of art or ceramics.
You could move into management or become self-employed.
