Not just the speed but also the cadence.
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It’s called “the chant”, and is done to lull you into a trance, making you more susceptible to listening and bidding.
It is supposed to encourage bidding while also making it clear what the bid is currently and what the next bid will be. The speed makes the bidders feel a little rushed and more likely to bid so they don’t miss an opportunity. The nonsense in between dollar amounts are usually words semi-related. You may hear “dollar”, “bidder”, “now”, “gimme”, and “dollar bidder”. These words are thrown in to help the auctioneer keep their speed and cadence. You may notice that charity auctions or other smaller scale events don’t seem as hectic as a livestock auction. Professional auctioneers work to create that intense frenzy because it make you feel more compelled to bid. Vice made a great video at the 2018 livestock auctioneer world championships. The auctioneers explain all of this.
Bullshit to distract. Listen to the number and know that is all that matters. If you have ring men, find one and stare and nod. Keep eye contact until you have reached your limit. Turn your head and walk away. But don’t listen to the bullshit.
To give the impression that the bidding is going fast, filling voids and silence with repeated numbers. Also to enforce a sense of urgency.
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