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Bargain auctions offer Istanbul consumers more bang for buck
ISTANBUL, Feb 24, 2019 (BSS/AFP) – “Going, going, gone!” resonate the
enticing chants of auctioneers in the narrow streets of a trendy Istanbul
neighbourhood, fascinating onlookers who are surprised, not so much by the
fast pace of the bidding, but by the prices in such economically troubled
times.
Auctions may have a reputation for being the staid preserve of the wealthy
to joust politely for rare collectibles or master paintings that can go for
millions of dollars.
But this is not the case in Balat, a historic neighbourhood on the shores
of the Golden Horn estuary frequented by tourists and locals alike who enjoy
the hipster cafes and historic churches.
Here, secondhand objects, from used furniture to toys, go for knockdown
prices.
Istanbul doesn’t have a tradition of jumble sales, although there are
secondhand shops.
But, about five years ago, low-price auction houses began to spring up in
Balat, giving residents another way to rid themselves of unwanted goods.
And with shop prices rising as the Turkish lira has tumbled, losing nearly
30 percent of its value against the dollar last year, the auctions offer a
welcome alternative.
Auction houses now regularly pack in the crowds, and for many, it is their
first time.
“I came here for a walk with my son but when I heard the chant and saw the
sign that it is free to join, we popped in out of curiosity to see what an
auction looks like,” said Murat, standing in front of the cashier, having won
the bidding for a laser pen for his son at 10 lira ($2, 1.7 euros).
“I have never been to an auction before. I always thought it is for rich
people.
“I really like the ambiance here. It was quite fun and the prices are very
reasonable.
“I will definitely come again,” he said.
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– ‘Dynamic ambiance’ –
The auction houses go all-out to create an experience that draws people
in.
Auctioneer Ali Tuna invites those who hesitate at the door to come in and
take a seat.
Cracking jokes to put people at ease, Tuna banters with the audience like
a standup comedian.
Wearing a black fedora style hat and a clip-on mic, he skillfully
describes every item to the crowd, walking it around to give people a closer
look, be it a simple pen, dagger or silver mirror.
“I must keep the ambiance dynamic,” said Tuna. “I cannot let the energy
die down.”
To some, “the guy with the hat” is half the reason for coming back.
“You meet different people, some are coming to satisfy their appetite for
antiques and some merely for five-penny items,” said Tuna.
– Outbid –
An entertaining atmosphere, almost like a show, is important to the
business model.
As the commission charged for selling bargain items is low, the houses
need to auction a large volume of goods, so having a room packed with clients
is critical.
Some auction houses double as cafes, adding to the attractiveness of the
atmosphere and provide organisers with another revenue source.
“It’s really fun here,” said Hulya Sahin, a middle-aged woman.
“I join the auctions as a social activity.”
Then there is the excitement of bidding, and getting a good deal.
“Ten lira, 10, but I am looking for 15, now 20, now 35, 40 and 50,” Tuna
chanted with increased tempo, holding up a blue Ford model car.
“It was very competitive,” remarked Nil Su, a university student, who paid
50 lira to get the model for her younger brother.
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“I could have bought it at a much lower price but for that man,” she said,
smiling, as she pointed to an older man sitting in the front row who kept
raising the bid.
– ‘Affordable prices’-
Still, many believe the auctions offer a good deal, which isn’t something
to be sniffed at, given that Turkey has faced a sharp surge in its inflation
rate, which hit a 15-year high in October at more than 25 percent.
“With the current state of the economy, people’s purchasing power has
drastically dropped,” said Yavuz, who both buys and sells items at the
auctions.
“Here they can find products at more affordable prices.”
Ercan Altan, who has transformed his coffee house in Balat into an auction
house, said that not all starting prices were as low as $2.
“There are some products you cannot start the bid from $2, like this
gramophone,” he said.
“We start, let’s say with 1,500 lira ($280) and sell it to the closest
bid.”
Arda Gurler, who runs an online auction website for old documents and
engravings, said the Balat auction houses were not for serious collectors —
but acknowledged that wasn’t the point.
“It is like a spontaneous theatre over there. When you stay five minutes,
you enjoy the ambiance.”
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