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Many chants are accompanied by the unique yelling of a "ringman" who is an assistant to the auctioneer in the "auction ring". Ringmen are themselves professionals. Because auctioneering can place considerable stress on the vocal cords over time, many auctioneers also choose to serve as ringmen, often alternating duties with one or more partner(s).
The practice of auctioneering involves more than the well-known auction chant heard at most auctions in the U.S. . In addition to learning the chant, a typical auction school will provide instruction on the legal requirements involved with auctioneering as well as instruction on how to conduct various types of auctions (livestock, real estate, government, etc.) and how to start and operate a ...
The Reppert School of Auctioneering was founded in 1921 by Col. Fred Reppert of Decatur, Indiana.Fred Reppert started in the auction business as a young boy and quickly rose to the top of his profession, selling auctions in every state of America, and in every province of Canada and Mexico.
The auctioneer may operate their own auction house (and thus perform the duties of both auctioneer and auction house), or work for another house. Auctioneers are frequently regulated by governmental entities, and in those jurisdictions must meet certain criteria to be licensed (be of a certain age, have no disqualifying criminal record, attend ...
Auction theory is a branch of applied economics that deals with how bidders act in auctions and researches how the features of auctions incentivise predictable outcomes. Auction theory is a tool used to inform the design of real-world auctions. Sellers use auction theory to raise higher revenues while allowing buyers to procure at a lower cost.
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The National Auction Association (NAA), founded in 1949, is an advocacy group representing auctioneers, auction businesses and related companies that seeks to promote the auction method of marketing and the practice of auctioneering in the United States. Its headquarters is located at 8880 Ballentine, Overland Park, Kansas, 66214, USA.