AUCTIONS
Timeless tool of trade
The Authors
AUCTIONS
That is all to say that the auction is not so distinct from the“ set” prices we pay at grocery stores and the like.
Timeless tool of trade
One thing a perusal of the past tells us is that auctions are timeless. They come to us naturally. Wherever there are goods to be traded, there will be circumstances where auctions are the answer.
Given the explosion of technology such as cryptography, the lowering of barriers to international trade and innovation of auction types, one might say that auctions are just getting started.
[ 1 ] Hart, I.( 2012). The Politics of Possession: Edwin Long’ s Babylonian Marriage Market. Art History, 35( 1), 86-105. [ 2 ] Unkovic, N.( 1929). The Three Types of Auction Sales. Dick. L. Rev., 34, 233. [ 3 ] Prak, M.( 2023). The Dutch Republic in the seventeenth century. Cambridge University Press.
[ 4 ] Syrett, V.( 2023). How coffee has shaped Britain’ s maritime history. Royal Museums Greenwich.
The Authors
Adrian Saville is Professor of Economics, Finance & Strategy at GIBS Business School( Gordon Institute of Business Science) and founder of Boundless World. Adrian’ s work focuses on business model design, innovation, capital allocation, and growth strategy to helps businesses turn complex market shifts into clear strategy and measurable results.
Ian Macleod is a senior research associate at GIBS Business School( Gordon Institute of Business Science) and partner at Boundless World. Ian translates rigorous economic insight into practical playbooks for real-asset and financial markets, turning messy markets into transparent, value-unlocking mechanisms.
This thought leadership article is produced as part of a series for The High Street Auction Co., South Africa’ s premier auction house. Learn more about The High Street Auction Company here: www. highstreetauctions. com.
32 REI MAGAZINE DEC / JAN 2026