Auctions are the last bastion of free enterprise

There is nothing like the atmosphere of a live auction — the thrill of the bid and the thrill of the chase for treasures. Auctions are a form of entertainment. The cast of characters who make up an audience on a particular auction day represent what America is about.

Many see auctions as the last bastion of the competitive free enterprise system. Pilgrims utilized auctioneers to establish commerce and auctions were used to sell crops, livestock, furs, tobacco, and other assets. America’s first president, George Washington, was an avid auction buyer.

Today, it is estimated that more than a quarter– trillion dollars in goods and services are sold by live auction every year in the United States, according to the National Auctioneers Association.