Lot 01

The Record

Every auction we conduct, entered permanently and never deleted. Asset, date, registered bidders, hammer price, days to close — and the ones that did not sell.

The Record opens with the next sale.

There is nothing in it yet, and that is what it says rather than something else. Every auction Auctioneered conducts from here is entered on this page — the asset, the date, the registered bidders, the hammer price, the days to close, and whether it sold at all.

Including the ones that don’t. A record that only holds successes is a brochure, and everyone reading it knows that.

Why the no-sales are here. No firm in this category publishes a sell-through rate, because publishing one would expose what selectivity currently hides. A record that includes the failures is the only version of this document that is worth anything — and it is the one thing a competitor cannot copy quickly, because they would have to start counting today too.

What each row means

Registered bidders is the number that matters.

A hammer price on its own tells you very little — it could be one determined buyer or it could be a room. The count of qualified, registered bidders is what tells you whether the price was discovered or merely accepted, which is the entire difference this brand is built on.