5 Fascinating Facts About Auctions

While we've all heard about the insane prices that certain auction items fetch, such as Leonardo da Vinci’s “Salvator Mundi” for an incredible $450 million, not many people know about the fascinating (and sometimes bizarre) historical facts about auctions. 

To help you brush up on your history, here are five fascinating facts about auctions you should know: 

The Roman Empire was up for auction

The Roman Empire was once the most powerful empire in the world but was actually sold to the highest bidder in 193 AD. The emperor Pertinax was murdered by his praetorian guards, but after gaining power and realising there was money to be made, they put the empire up for auction. The lucky bidder was Didius Julianus, who was declared the winner after paying a hefty sum. According to historians, the amount would be the equivalent of around $1 billion in modern times. Unfortunately, Julianus only reigned for one term before he was dethroned, suggesting that he defaulted on his bid. 

The earliest auctions date back to 500  BC 

The first recorded auction took place in 500 BC and was noted by the ancient Greek historian Herodotus who reported that marriage auctions of women in Babylon took place annually. Apart from marriage, early auctions were also places where one could purchase spoils of war. 

Candles were used to announce an auction winner 

During the 1700s in England, it was customary to have auctions by candlelight. While candlelight is often associated with romance, there was nothing romantic about these auctions; instead, it was highly competitive. A single candle was pinned to the wall in a dark room before the auctioneer began the proceedings. Bidders would rush to place their bids with the auction closing once the candle melted around the pin and it fell to the ground. When this happened, the last bidder would be declared the winner. 

New Zealand was put up for bid 

In 2006, an Australian man put the entire country of New Zealand up for auction on eBay. The starting bid was 0.01c but quickly went up to $1300 before it was discovered to be in violation of eBay’s terms and conditions. While the auction was stopped prematurely, the story quickly went viral before it was removed.

A spear was once our modern-day gavel 

While modern-day auctions are thrilling, the auctions that took place thousands of years ago were filled with a certain level of drama. Auctioneers were known as the Magister Auctionarium, and instead of using a gavel, they would throw spears into the ground to signal the start of the auction. Talk about an auction to die for! 

A modern take on things 

The auction industry has grown in leaps and bounds throughout the centuries. While we’re grateful for these bizarre and exciting beginnings, there’s nothing better than enjoying modern auctions' simplicity and ease. 

Auction Calendar is an auction listing platform that aims to embrace the modern elements of the industry’s digital future. Experience a seamless and intuitive interface that unlocks convenient benefits, including easy access to a range of auctions across Southern Africa. 

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