What is the typical initial action taken by an auctioneer when preparing an auction?

The typical initial action taken by an auctioneer when preparing an auction is signing the auction contract. This is a crucial first step as it formalizes the agreement between the auctioneer and the seller, outlining the terms of the auction, including commission rates, responsibilities, and any specific stipulations regarding the sale items. By securing a signed agreement, the auctioneer establishes a legal framework that ensures both parties are committed to the process and understand their roles and obligations.

Once the contract is in place, the auctioneer can begin planning further logistics, such as evaluating items to be sold, constructing the auction schedule, and advertising the event. This step is foundational, as the signed contract confirms the auctioneer's authority to sell the items and provides the necessary structure for the auction's subsequent preparation and promotion.