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Critical Thinking Essay on Estate Auction

Estate Auction

Description of the Estate Auction

This auction took place over the weekend. Among the items that were sold during this auction included furniture that was in excellent condition although it had been used. The furniture included wall units, coffee tables and couches among others. These items had an attractive display that was appealing to potential buyers. The effect of this display was to show the value of the items that were being sold. A short synopsis that included the manufacture date of the items, the manufacturer as well as their purported value for customers accompanied the items. The synopsis also had a picture that depicted the item’s placement in the house. The items were in pairs of respective complements. Coffee tables for instance were put together with chairs. Nevertheless, buyers were not necessarily required to purchase every item together with its complement.

The auction’s organizers used simple means of advertising to announce the date of this auction. This might have been due to the fact that the target market of the audience was the neighborhood residents. Among the advertising media used included flyers, phone calls and billboards that targeted the neighborhood residents. The desired effect of the media was to attract neighborhood residents. It had been noted that this form of advertising created a personal touch with the target audience. It was also important to ensure that the entire auction was successful in selling these items.

Role of the Auctioneer and Auction Assistants

The auctioneer as well as the assistants played a vital role of persuading individuals to bid or buy the items on offer. Among the strategies that the auctioneers and the assistants used included creating value among the buyers. For instance, there was an announcement that having a specific breakfast table allowed family members to communicate better during breakfast. This was important because it enabled people to derive value from this item. Another strategy that was used was that of highlighting the uses of the items within the household. The auctioneer and the assistants did this by highlighting various uses that the items had. This was important because it made the auction successful while enticing people to purchase the items.

Claim strategy was also used by the auctioneer and the assistants. This strategy was achieved via stating the items’ quality. Big names were also used such as those of renowned manufacturers. Logic was also used as a strategy of convincing people to consider the benefits that they could get from buying certain items. For example, statistics were used to advertise the items including the possibility of the items to last for years even without maintenance. Emotional appeal was also another strategy that was used by the auctioneer while dealing with prospective bidders. They did this by applying pathos and ethos. The auctioneer as well as the assistants appealed to the bidders’ emotions by stating the benefits that could be enjoyed after buying certain items.

Different persuasive tactics that the auctioneers applied were effective because they altered the process of making decisions among the buyers. This is due to the fact that while buying the items, the conviction that most people had was that they would improve their lives. This has a direct relationship with the persuasive approaches employed by these auctioneers. Another factor that should be noted is that most buyers were convinced that the items were of high quality because the auctioneers used names of renowned manufacturers and designers.

Influence of Bidders on the Bidding Process

It is crucial to note that bidders had a significant influence on the other bidders during the bidding process. This is due to the fact that the process of making decision among the bidders depends on fellow bidders’ behavior. This was proved by the truth that majority of the involved bidders bid for items that attracted more bidders. It should also be noted that under normal conditions, the available information regarding the available items influences the process of making the buying decision among bidders.

Nevertheless, in terms of the auction that was held in the state, there was no adequate information regarding the items for buyers. This implied that a lot of influence for the buyers came from the information that was provided by these auctioneers. It is also important to note that items that attracted more buyers attracted more people. The effect of this was that some items had positive competition among the bidders. This improved sales for such items. Nevertheless, some items did not attract more attention. Such items did not hit their set sales targets. Performance of some items influenced the process of bidding significantly. Some people depended on other people’s judgment on certain items in making decisions about the items.

Auctioneer’s Chant and Interaction with Bidders

The auctioneer had an outgoing character. The chant of the auctioneer was highly persuasive to potential bidders. The auctioneer was able to appeal to bidders’ emotions through the use of different persuasive strategies such as pathos and ethos. Reference to different facts about the items characterized the auctioneer as well as his assistants’ chants. This was achieved by ensuring that the bidders always agreed with them on the attributes of the items. In cases where bidders failed to understand the chant fully, the auctioneer explained the details of the items comprehensively. The communication style of the auctioneer also depicted knowledge of different items. This established a relationship that ensured that bidders depended on the auctioneer for information about the items. It should be noted that majority of the buyers sought auctioneer’s clarification after buying the items. This indicates that the auctioneer established a relationship whose major characteristic was trust. People considered the auctioneer reliable because he did not make mistakes while highlighting the features of the items including their problems. For example, if a chair required minor repairs, bidders were informed about this problem. The auctioneer also provided details of the acquaintances who could fix the highlighted problems of the featured items.

My Behavior in the Auction

I purchased one Oriental rug. Before buying this item, I did not know what one should consider while buying it. However, since I needed it I paid extra attention to the analysis of the bidders of different rugs that were presented for sale. It was not possible for me to trust personal judgment. Therefore, I had to look for a rug of high quality and a considerable price. I saw the auctioneer as a trustworthy person so I was very attentive any time he highlighted qualities of different rugs. I was impressed by the Oriental rug because it has a magnificent design. This implies that the rug’s appearance influenced my process of making a decision.

Several people wanted to buy the rug. This convinced me that it was of a superior quality and that I could derive value from it. The information that I sought about the rug also influenced my decision. I asked people about the importance of oriental rugs and whether they knew problems that relate to them. The rug’s authenticity was particularly my concern because I did not want to purchase a fake product. However, the auctioneer indicated that it was an authentic Oriental rug. This also influenced my decision to bid for it.

The Effect of the Auction as a Social Event

Since the auction was held in the state, it looked like a social event. It also took place over the weekend and this improved its outlook as a properly organized social event. The effect of this on the process of making a buying decision was significant. This is due to the fact that majority of the people attending the auction perceived it as a chance of interacting with neighbors. Amicable competition of the people characterized the process of bidding for the items. This implied that individuals who purchased items during the auction saw the entire process as a nice way of having fun and interacting. This improved the entire process of bidding since people influenced one another.

However, it was apparent that they lacked the information that they needed to bid for different items. For example, people would influence their neighbors by noting that particular furniture pieces would look great in their living or sitting rooms. The effect of this was that it led individuals into buying items that might not add value to their lives. As such, people were inhibited from behaving rationally while making decisions by the social event outlook of the auction. This is due to the fact that most people encouraged their neighbors and friends to buy different auction items. Nevertheless, it should be noted that most people bought items after engaging in informed analysis. This was enhanced by the fact that people were helped by the auctioneer as well as the assistants who provided pertinent information regarding different items.

It should also be noted that majority of the individuals who bought the items believed that the items would most likely provide value for money. The implication of this is that despite having social event’s tenets, most people engaged in the process of rational decision making before purchasing items during the auction.

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