Fun Fact #1
During the Civil War, goods seized by armies were sold by the colonel, hence the auctioneer's unofficial title of "colonel".
Fun Fact #2
In England, during the 18th century, high-end items were auctioned by candle. People placed bids on the table until the candle burnt out.
Fun Fact #3
English auctions: this format is the format we follow today.
Fun Fact #4
Dutch auctions: the bids start high; prices are lowered until one person says "buy."
Fun Fact #5
Japanese auctions: when the bidding starts, no new bids can join.
Fun Fact #6
Silent auctions: bidders write their bid on paper and put it in a bowl in front of them.