Although the precise origin of auctions and auctioning is not known,historians agree that auctions have been an integral part of the evolution of man.The Greeks documented the first auction chronicles about 500 BC. They held annual wedding auctions where women of maturity were sold for the purpose of marriage.Instead of starting low and going up, the offers for brides started high and went down until a bidder acceted the maiden.
The Romans employed auctions as a system of trade. The sale of the entire Roman Empire is regraded as perhaps the most preposterous auction of all times. Didius Julianus won the bid and was proclaimed Emperor. Only for a short time, for he was beheaded.
In the sixteenth century English auctions were held by candle. During this period auctions were held in city inns and coffee houses.
In 1712 A Frenchman established the general auction that offered diversified goods at a single sale as oppossed to the specialty auctions of the times.
When the Pilgrims fled to the New World "America" they the Old World sales method with them. Because of all the seaports, much of the trade took place through seaside auctions. Auctioning many goods, commodities, slaves and more.
The demand for auctioneers grew because of the tobacco and cotton industries. After the Civil War the United States held many auctions, selling off arms, commodities and war relics t raise money to pay off the huge war debt. Proving that even in bad times the auctioning profession was a vital part of the economy.
Because of restrictions in travel in the 18th and 19th centuries,people would acquire machinery, equipment, supplies and livestock through local auctions, which is still a vital part of the auctioning industry today.
