Auctioneering : The Skill
In this clip from the LIVE edition of The Court of Public Opinion with Jeremy Cordeaux, Jim Elder provides listeners with a masterclass in the art of auctioneering. Describing auctioneering as both an art and a science, Jim explains the delicate balance required to bring the gavel down on a high-value sale. “It’s about more than just shouting out numbers,” Jim shares. “You have to understand the artwork intimately, manage the expectations of both sellers and buyers, and create an atmosphere of excitement that pushes bids higher.”
Jim emphasises that knowing the history and value of the pieces up for auction is critical. “You need to educate yourself about the artist, the significance of the work, and its market value. Without that knowledge, you won’t gain the trust of your clients or the bidders,” he explains.
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The Auction House Experience
Jim Elder also offers a behind-the-scenes look at the auction process, from cataloguing the art to the final sale. He shares memorable stories of past auctions, recalling a particularly exciting sale of a Pro Hart painting that fetched an impressive $150,000. “There’s always a buzz in the room when a piece like that comes up for auction,” Jim recalls. “You can feel the tension building as the bids climb higher and higher.”
The process begins long before the auction day, with Jim and his team meticulously cataloguing each piece and setting expectations for the sellers. “You’ve got to set realistic expectations for the sellers, but also create a sense of anticipation among the bidders. It’s a balancing act,” Jim says.
Auctioneering & The Future of Auctions
As the auction world shifts towards online platforms, Jim acknowledges the changes while defending the continued relevance of traditional auction houses. “There’s something about being in the room, seeing the art up close, feeling the energy. That’s what you miss with online auctions,” Jim reflects.
While the convenience of online bidding has its advantages, Jim believes that nothing can replace the personal, hands-on experience of a live auction. “It’s not just about buying art—it’s about the thrill of the event,” he says. He predicts that while online platforms will continue to grow, traditional auction houses will always have a place for those who appreciate the tactile, immersive experience.
Topic time in podcast and video: 06:20 – 09:30
