MORE ON THE FUTURE OF LIVE AUCTIONS

Over the last two years, there has been much discussion of how Covid changed the auction markets.

Covid was not the key mechanism of change to the Live auction business. The change came gradually, through time, as a direct result of a changing and advanced technological world.

Like Jeff, and many, many others, we lament the loss of the old fashioned live auctions with a room, or rooms, full of prospective bidders. Yes, there was often psychology involved between competing bidders. But perhaps the most important thing which Jeff and all of us older folks realize, is that auctions brought together a community of collectors. It is where we all met, let our hair down, became friends or acquaintances, grew relationships and enjoyed the camaraderie of collecting as a group. As the shows grew larger, it became impossible, as Brian noted, to leave the bourse to inspect items for auction.

There have been major technological advances. Both John and Ian noted very correctly that imaging technology has been a game changer. How many of you remember the booth fifteen years ago at a national ANA show where three dimensional photography was first introduced, in the back of the bourse, next to Northwest Territorial Mint's booth? I was enthralled, so much so, that we experimented with it more than a decade ago with a South African company and high-end mineral specimens.

Another major technological advance has been the development of multiple, competing online auction platforms. Today, everybody wants to be an auctioneer. It seems there are as many auction companies as Starbucks – one on every corner. But those that grasp the underlying keys of this new and constantly changing technology will be the successors. In our own case, we use as many as five different competing platforms at one time.

Each of the commentors is correct – we are seeing a new breed of collectors (and buyers) by this massive increase in internet auctions. It has brought the fun of collecting back into the marketplace, making it accessible to multiples of the attendees to a single trade show, and introducing new collecting genres to thousands of collectors worldwide. This facet of marketing does not eliminate the need for trade shows. In fact, it makes them even more important, as we can all promote the trade shows to do what we all used to do – meet the collectors, discuss collecting, and all the things associated with it in person, and further develop those cherished relationships.

Our company finds itself making hundreds of new collectors every sale, with a huge number of registered bidders. During the live auctions, we promote the collecting clubs, the trade shows, and the dealers who take the time, money and expertise to offer goods to collectors. We hope all of you do the same!

The pandemic restrictions speeded up a process that many auctioneers thought would take some time: a seismic shift towards online bidding. While boosting business, it also means salerooms need to adapt to meet the demands of internet-savvy customers

Auction bidders keen for a bit of social distancing alongside their paddle waving might be eager to flock to Dawsons in Maidenhead, Berkshire, when the firm opens the doors of its new 12,000 sq ft premises in January.

But they will discover they are in the wrong place. Despite so much space, the firm will be running all its sales online with no room bidding. Put that paddle away: the auction action these days is to be found in the comfort of your own home.

We went online at the start of the pandemic in March 2020 and have had no room bidding since then, says managing director Aubrey Dawson. In 2022 he will be broadcasting from a dedicated live streaming room where everything is geared up for online-only.

The profile of the buyer is changing, says Stephan Ludwig, founder of Forum Auctions (now part of Gurr Johns where he is co-chief executive). As a business we want to attract the Amazon generation. We need to move towards accommodating this buyer's mentality and attract more of them.

With viewings off-limits for a while during the pandemic – and now by appointment-only at many venues – auctioneers responded by raising their game in cataloguing.

They have been providing more and better photographs of lots, greater detail in descriptions and more condition reports as standard. This practice continued and even accelerated out of lockdown as it became clear that buyers had become comfortable researching lots from home.

At David Lay Auctioneers in Penzance the furniture photographs for its recent Personal Collection of Jonathan Grimble sale would not have looked out of place in a top high-street store's catalogue.

We now have two full-time photographers, says chairman and owner David Lay. They are young local people who have studied photography at Falmouth University and are brilliant. They have such great ideas and skills and enable us to do exciting things with new presentations and layouts.

Ed Crichton, partner in Lacy Scott & Knight's fine art department, says his Bury St Edmunds firm has also invested in more staff and more time to photograph items – some lots will get as many as 10 photos or more.

The rise in remote bidding was a key factor in this decision. Now about 70-75% of all bids come online while it was 45-50% pre-pandemic, he says.

In Stansted Mounfitchet, Sworders now employs four full-time photographers and is seeking to recruit more

Pre-sale we now also provide a comprehensive condition report on every lot we sell, says chairman Guy Schooling, Yexue Li, who runs our Asian Art sales, took a minimum of 20 additional photographs for every lot that she offered in her sale; more than one lot had 100 additional images.

To read the complete article, see:
Doing the bidding of the Amazon generation (https://www.antiquestradegazette.com/print-edition/2021/december/2523/review-of-the-year/doing-the-bidding-of-the-amazon-generation/)

To read the earlier E-Sylum article, see:
THE FUTURE OF LIVE AUCTIONS (https://www.coinbooks.org/v24/esylum_v24n52a17.html)

 

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