“They talk like that to hypnotize the bidders. Auctioneers don’t just talk fast—they chant in a rhythmic monotone so as to lull onlookers into a conditioned pattern of call and response, as if they were playing a game of ‘Simon says.’ The speed is also intended to give the buyers a sense of urgency: Bid now or lose out.”
Neat insight. Thanks Slate.
Obviously, this is something to be aware of if you find yourself at an auction bidding on items mostly because it seems fun. The auctioneers want to make bidding seem like a game—one played by pre-school kids, notably—but consumers are much better off if they actually pause to think about what they’re doing and how much they’re spending. Studies show that purchases should be a little painful; if they’re not, then consumers are more likely to make stupid decisions and buy things impulsively. When that happens, the pain of regret can be worse than the initial pain caused from carefully considering whether the item in question is worth the asking price—and whether you really need it at all.