Chandelier Bidding
Chandelier Bidding is a common practice in auction houses where the auctioneer announces bids from imaginary bidders to create excitement and momentum in the bidding process. The term comes from the old practice of auctioneers pointing to the chandeliers while announcing these fictional bids. It's a legal and accepted method used to help reach the reserve price (minimum selling price) of an item. Think of it like a sales technique that helps get the bidding started and keeps it moving until real bidders become actively involved. This practice is also sometimes called "taking bids off the wall" or "house bidding."
Examples in Resumes
Trained junior auctioneers in proper Chandelier Bidding techniques and auction protocols
Managed successful auctions utilizing Chandelier Bid strategies to achieve optimal sale prices
Developed guidelines for appropriate use of Chandelier Bidding in compliance with industry standards
Typical job title: "Auctioneers"
Also try searching for:
Where to Find Auctioneers
Professional Organizations
Job Boards
Professional Networks
Example Interview Questions
Senior Level Questions
Q: How do you handle situations where chandelier bidding might conflict with buyer expectations?
Expected Answer: A senior auctioneer should discuss transparency policies, legal requirements, and how to maintain trust while using this practice effectively. They should mention experience in training others and developing ethical guidelines.
Q: What strategies do you use to transition from chandelier bidding to actual competitive bidding?
Expected Answer: Should demonstrate knowledge of reading the room, timing, and psychology of bidding. Should explain how to maintain momentum and engage real bidders smoothly.
Mid Level Questions
Q: How do you determine appropriate increments for chandelier bidding?
Expected Answer: Should explain understanding of market values, reserve prices, and how to pace bidding increases to maintain interest without overshooting realistic price points.
Q: What are the key legal considerations when using chandelier bidding?
Expected Answer: Should discuss disclosure requirements, house rules, and how to properly document and communicate the practice to buyers and sellers.
Junior Level Questions
Q: What is chandelier bidding and when is it appropriate to use?
Expected Answer: Should explain the basic concept, its purpose in starting bidding momentum, and understand when it's acceptable to use this technique.
Q: How do you maintain professionalism while conducting chandelier bidding?
Expected Answer: Should discuss the importance of confidence, clear communication, and maintaining auction flow while using this technique.
Experience Level Indicators
Junior (0-2 years)
- Basic auction procedures
- Understanding of bidding increments
- Clear voice and presentation
- Knowledge of auction terminology
Mid (2-5 years)
- Confident use of chandelier bidding
- Understanding of market values
- Strong crowd management
- Ability to maintain bidding momentum
Senior (5+ years)
- Advanced price psychology
- Training and mentoring ability
- Expert market knowledge
- Strategic auction management
Red Flags to Watch For
- Lack of understanding about legal requirements and ethics
- Poor communication skills or unclear speech
- Inability to read room dynamics and buyer signals
- No knowledge of market values and pricing strategies
Related Terms
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