The Dynamics of Auction: Social Interaction and the Sale of Fine Art and Antiques

Description

Each year art and antiques worth many billions of pounds are sold at auction. These auctions consist of numerous, intense episodes of social interaction through which the price of goods rapidly escalates until sold on the strike of a hammer. In this book, Christian Heath examines the fine details of interaction that arises at auctions, the talk and visible conduct of the participants, and their use of various tools and technologies. He explores how auctioneers, buyers and their representatives are able to transact the sale of goods worth anything from a few dollars through to many millions in just seconds. Heath addresses how order, trust, and competition are established at auctions and demonstrates how an economic institution of some global importance is founded upon embodied action and interaction. The analysis is based on video recordings of sales of art and antiques gathered within a range of national and international auction houses in Europe and the United States. Series Page Copyright Page Table of Contents Series Foreword Preface 1 Auctions: Institutional Form and Interactional Organisation 2 Orders of Bidding 3 Trust and the Integrity of Bids 4 Establishing Competition: Creating an Impression of Demand 5 Bidding and the Pursuit of Bids 6 Remote Presence and Online Participation 7 On the Strike of the Hammer 8 Embodied Action and the Order of Markets Appendix I. Glossary Appendix II. Transcription Notation References Index