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15 Fast-Talking Auctioneering Terms

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You might have heard that Han Solo’s leather jacket sold at auction for $191,000, while J.K. Rowling’s writing chair went for a whopping $394,000. But you might not know what exactly goes on at the likes of Sotheby's and Christie's, what with all the paddle waving and the torrential verbiage that pours from auctioneers’ mouths. Before you try your hand at some bidding, check out these 15 fast-talking auctioneering terms.

1. AUCTION CHANT

American auctioneers are perhaps best identified by their rapid-fire speech, known as the auction chant, as well as bid calling, crying bid, and cattle rattle, specifically for livestock auctions. According to Texas Monthly, the chant comes in three parts: the statement (“I’m bid ten dollars”), the suggestion (“Ten dollars, twenty dollars”), and the question (“Do I hear 30?”).

So why do auctioneers talk like this? To “hypnotize the bidders,” according to Slate, and to lull them into a “conditioned pattern of call and response.” As for the speed, that's to convey urgency.

2. FILLER WORDS

Filler words are basically all the words besides the bid. They differ by auctioneer and give their chants their unique rhythm and roll. They also give potential buyers a few seconds to think about their next bid and to remind them of what the last bid was.

3. BID CATCHER

The auctioneer isn’t the only one working the house. The bid catcher, also known as the ringman, takes note of every bid and communicates them to the auctioneer either with hand signals or verbally.

4. LOT

A lot refers to an item or group of items that's going up for sale.

5. GO ON THE BLOCK

When an item goes up for auction, it’s said to go on the block. The block refers to the auctioneer’s podium, which in the past was a literal block of wood.

6. THE THREE Ds

The three Ds stand for debt, divorce, and death, often one of the reasons an item or items goes on the block. Linguist Barry Popik says sometimes it’s the five Ds, death, disease, divorce, drugs, and denial.

7. PROVENANCE

If you watch the Antiques Roadshow, you’ll know that the provenance of an object can increase its value. A borrowing from French, provenance refers to the history of ownership of an item, back to when it was first created, if possible.

8. ONE MONEY

One money means a single bid for an entire lot, or several items at once. So $100 for five paintings would get you all five paintings for that hundred smackers.

9. TIMES THE MONEY

On the other hand, times the money basically means “each.” In other words, if an auctioneer says a lot of five paintings is “times the money” and you bid $20, you’re bidding $20 per painting.

10. WHITE GLOVE SALE

An auction is dubbed a white glove sale when every single lot sells. This rare occurrence is so-called because of an old tradition in which the auctioneer was bestowed with a pair of white gloves.

11. CHANDELIER BID

If bidding is feeling lackluster, an auctioneer might employ the chandelier bid—that is, a fake bid in which he or she points at the ceiling or wherever an imaginary bidder might be. Also known as the rafter bid, such a practice is technically not illegal, but it is frowned upon.

12. PETER FUNK

Peter Funk is a historical term for a fraudulent bidder who works to raise prices and cheat buyers. The name comes from a character in an 1834 novel, The Perils of Pearl Street: Including a Taste of the Dangers of Wall Street, by Asa Greene.

13. DUTCH AUCTION

While in traditional auctions the price of an item is raised by bidders, in a Dutch auction, the price of an item or property is gradually lowered until someone finally agrees to buy it.

In the world of IPOs, a Dutch auction works similarly. All potential investors end up paying the same price per share, which is the lowest price that was bid. So if you bid $100 per share, and the lowest bid ends up being $75, you only have to pay $75 per share.

What makes this type of auction Dutch? It’s not clear but we’re guessing the origin is similar to that of idioms like go Dutch, a general sort of derisiveness against the Dutch because of a rivalry between the Dutch and the English in the 17th century.

14. CANDLE AUCTION

An old British tradition, candle auctions allow bidding to go on only as long as a short candle burns. The highest bid at the time of the candle burning out is the one that's taken.

15. HAMMER PRICE

The hammer price is the final, successful bid, officially sealed with a bang of the auctioneer’s gavel or hammer.

Additional sources: Artspace magazine; Investopedia; Sotheby's; Weese Auction Co.: Glossary of Auction Terms.

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Yes, You Can Put Your Christmas Decorations Up Now—and Should, According to Psychologists
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We all know at least one of those people who's already placing an angel on top of his or her Christmas tree while everyone else on the block still has paper ghosts stuck to their windows and a rotting pumpkin on the stoop. Maybe it’s your neighbor; maybe it’s you. Jolliness aside, these early decorators tend to get a bad rap. For some people, the holidays provide more stress than splendor, so the sight of that first plastic reindeer on a neighbor's roof isn't exactly a welcome one.

But according to two psychoanalysts, these eager decorators aren’t eccentric—they’re simply happier. Psychoanalyst Steve McKeown told UNILAD:

“Although there could be a number of symptomatic reasons why someone would want to obsessively put up decorations early, most commonly for nostalgic reasons either to relive the magic or to compensate for past neglect.

In a world full of stress and anxiety people like to associate to things that make them happy and Christmas decorations evoke those strong feelings of the childhood.

Decorations are simply an anchor or pathway to those old childhood magical emotions of excitement. So putting up those Christmas decorations early extend the excitement!”

Amy Morin, another psychoanalyst, linked Christmas decorations with the pleasures of childhood, telling the site: “The holiday season stirs up a sense of nostalgia. Nostalgia helps link people to their personal past and it helps people understand their identity. For many, putting up Christmas decorations early is a way for them to reconnect with their childhoods.”

She also explained that these nostalgic memories can help remind people of spending the holidays with loved ones who have since passed away. As Morin remarked, “Decorating early may help them feel more connected with that individual.”

And that neighbor of yours who has already been decorated since Halloween? Well, according to a study in the Journal of Environmental Psychology, homes that have been warmly decorated for the holidays make the residents appear more “friendly and cohesive” compared to non-decorated homes when observed by strangers. Basically, a little wreath can go a long way.

So if you want to hang those stockings before you’ve digested your Thanksgiving dinner, go ahead. You might just find yourself happier for it.

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11 Black Friday Purchases That Aren't Always The Best Deal
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Black Friday can bring out some of the best deals of the year (along with the worst in-store behavior), but that doesn't mean every advertised price is worth splurging on. While many shoppers are eager to save a few dollars and kickstart the holiday shopping season, some purchases are better left waiting for at least a few weeks (or longer).

1. FURNITURE

Display of outdoor furniture.
Photo by Isaac Benhesed on Unsplash

Black Friday is often the best time to scope out deals on large purchases—except for furniture. That's because newer furniture models and styles often appear in showrooms in February. According to Kurt Knutsson, a consumer technology expert, the best furniture deals can be found in January, and later on in July and August. If you're aiming for outdoor patio sets, expect to find knockout prices when outdoor furniture is discounted and put on clearance closer to Labor Day.

2. TOOLS

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Unless you're shopping for a specific tool as a Christmas gift, it's often better to wait until warmer weather rolls around to catch great deals. While some big-name brands offer Black Friday discounts, the best tool deals roll around in late spring and early summer, just in time for Memorial Day and Father's Day.

3. BEDDING AND LINENS

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Sheet and bedding sets are often used as doorbuster items for Black Friday sales, but that doesn't mean you should splurge now. Instead, wait for annual linen sales—called white sales—to pop up after New Year's. Back in January of 1878, department store operator John Wanamaker held the first white sale as a way to push bedding inventory out of his stores. Since then, retailers have offered these top-of-the-year sales and January remains the best time to buy sheets, comforters, and other cozy bed linens.

4. HOLIDAY DÉCOR

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If you are planning to snag a new Christmas tree, lights, or other festive décor, it's likely worth making due with what you have and snapping up new items after December 25. After the holidays, retailers are looking to quickly move out holiday items to make way for spring inventory, so ornaments, trees, yard inflatables, and other items often drastically drop in price, offering better deals than before the holidays. If you truly can't wait, the better option is shopping as close to Christmas as possible, when stores try to reduce their Christmas stock before resorting to clearance prices.

5. TOYS

Child choosing a toy car.
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Unless you're shopping for a very specific gift that's likely to sell out before the holidays, Black Friday toy deals often aren't the best time to fill your cart at toy stores. Stores often begin dropping toy prices two weeks before Christmas, meaning there's nothing wrong with saving all your shopping (and gift wrapping) until the last minute.

6. ENGAGEMENT RINGS AND JEWELRY

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Holiday jewelry commercials can be pretty persuasive when it comes to giving diamonds and gold as gifts. But, savvy shoppers can often get the best deals on baubles come spring and summer—prices tend to be at their highest between Christmas and Valentine's Day thanks to engagements and holiday gift-giving. But come March, prices begin to drop through the end of summer as jewelers see fewer purchases, making it worth passing up Black Friday deals.

7. PLANE TICKETS AND TRAVEL PACKAGES

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While it's worth looking at plane ticket deals on Black Friday, it's not always the best idea to whip out your credit card. Despite some sales, the best time to purchase a flight is still between three weeks and three and a half months out. Some hotel sites will offer big deals after Thanksgiving and on Cyber Monday, but it doesn't mean you should spring for next year's vacation just yet. The best travel and accommodation deals often pop up in January and February when travel numbers are down.

8. FOOD AND SNACK BASKETS

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Fancy fruit, meat and cheese, and snack baskets are easy gifts for friends and family (or yourself, let's be honest), but they shouldn't be snagged on Black Friday. And because baskets are jam-packed full of perishables, you likely won't want to buy them a month away from the big day anyway. But traditionally, you'll spend less cheddar if you wait to make those purchases in December.

9. WINTER CLOTHING

Rack of women's winter clothing.
Photo by Hannah Morgan on Unsplash.

Buying clothing out of season is usually a big money saver, and winter clothes are no exception. Although some brands push big discounts online and in-store, the best savings on coats, gloves, and other winter accessories can still be found right before Black Friday—pre-Thanksgiving apparel markdowns can hit nearly 30 percent off—and after the holidays.

10. SMARTPHONES

Group of hands holding smartphones.
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While blowout tech sales are often reserved for Cyber Monday, retailers will try to pull you in-store with big electronics discounts on Black Friday. But, not all of them are really the best deals. The price for new iPhones, for example, may not budge much (if at all) the day after Thanksgiving. If you're in the market for a new phone, the best option might be waiting at least a few more weeks as prices on older models drop. Or, you can wait for bundle deals that crop up during December, where you pay standard retail price but receive free accessories or gift cards along with your new phone.

11. KITCHEN GADGETS

Row of hanging kitchen knives and utensils.
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Black Friday is a great shopping day for cooking enthusiasts—at least for those who are picky about their kitchen appliances. Name-brand tools and appliances often see good sales, since stores drop prices upwards of 40 to 50 percent to move through more inventory. But that doesn't mean all slow cookers, coffee makers, and utensil prices are the best deals. Many stores advertise no-name kitchen items that are often cheaply made and cheaply priced. Purchasing these lower-grade items can be a waste of money, even on Black Friday, since chances are you may be stuck looking for a replacement next year. And while shoppers love to find deals, the whole point of America's unofficial shopping holiday is to save money on products you truly want (and love).

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