Many factors are involved in holding an auction, which most are hidden from the eyes of an observer. When a work of art is presented in a prominent auction, the arrangement of the work in the pre-auction show and catalog, the auctioneer, and even the emotions that are aroused during the process, all become very important. In the following, we will discuss some of these factors that were listed by Don Thompson in his 2008 book "The $12 Million Stuffed Shark"  under the term the Psychology of Auctions.