History

A Brief History of Auctions

Auctions are not new phenomena – in fact it is generally accepted that the first auction occurred about 500 B.C. Herodotus a Greek historian wrote of a yearly auction sale of women under the condition that they be married following their purchase by auction, the more attractive women selling to the higher bidders.

From China to Europe (let’s not forget the great Roman Empire) auctions were used to liquidate property, goods and war plunder. Early accounts of the use of auctions in America occurred in the South when furs, land, slaves, cotton and tobacco were sold at auction.

If you ever feel you are in the dark about auctions you might consider taking a time machine to England and arrive in the 1880’s where some auctions were conducted by candlelight. These auctions would begin by lighting a candle after which bids were offered in ascending order until the candle spluttered out. The highest bidder at the time the candle extinguished itself won the item.

Today, as in the past many different and interesting items are sold on the auction block. In 1968 the London Bridge (originally built in 1831) was put on the auction block and found a new home at Lake Havasu in Arizona. Now that’s something to get excited about!