500 BC
First Documented Auction
In 500 BC, Herodotus, the Greek historian, first noted auctions in Babylon, where women, considered property at the time, were sold for marriage.
30 AD
Roman Empire’s Auctions
In Ancient Rome, auctions were held at the Atrium Auctionarium, often symbolised by a spear driven into the ground. These auctions sold property, goods, and war spoils—including captured slaves—to fund future military campaigns.
13th Century
First Licensed Auctioneers
King Henry VII (note: likely meant Henry III historically) introduced the first formally licensed auctioneers in England, establishing auctioneering as a recognized profession.
16th Century
Birth of Auctions in America
Auctions arrived in America with the Pilgrims in the 1600s. They became widespread during colonization, involving the sale of crops, imports, livestock, slaves, and entire farms.
Civil War Era
Rise of the Auctioneer ‘Colonel’
During the U.S. Civil War(1860s), auctions were often conducted by military colonels to sell war spoils. The title “Colonel” became associated with auctioneers—a tradition that continues today
Early 1900s
Emergence of Auction Schools
Auction schools like Jones’ National School professionalized auctioneering, teaching skills in areas such as general merchandise, real estate, and livestock auctions—dispelling the myth that auctioneers were only born, not trained.
1950s
Auctions Become Big Business
Post–World War II, the auction industry boomed. Auctions became faster, more professional, and commercialized, with auctioneers adopting formal business attire and structured sales processes
1990s – Present
The Rise of Online Auctions
With the launch of eBay in 1995, online bidding transformed the auction landscape. Today, auctioneers use hybrid models—combining live and online formats—to reach broader audiences and offer remote access to real-time bidding.
Future
The Future of Auctioneering
Real estate auctions now cover everything from foreclosures to luxury properties. Known for their transparency and efficiency, auctions provide a fair market value in competitive environments. Digital platforms will continue shaping the future of real estate auctions.
Auctions appear to have left their mark on virtually every century, industry, and nationality. Their origins, reaching far back in history, remain uncertain, with no clear knowledge of how or by whom they were initiated.
Today, real estate auctions are used for a range of properties, from foreclosures to luxury homes. They offer a transparent and efficient way to determine market value and facilitate transactions in a competitive environment. Online auction platforms continue to play a significant role in the modern real estate auction landscape.
SID GANDHI
Founder | Licensed Real Estate Broker
REALNEST PROPERTY SOLUTIONS
Inner-west, Western Sydney & Central Coast, NSW