| Buying and selling art can be a lucrative profession as | | | | may register as a bidder. Be sure to ask about |
| well as an enjoyable pastime. Attending art auctions | | | | premiums when you register as some auctioneers add |
| can be profitable, entertaining, and a great place to | | | | 10% to the highest bid or take commission from the |
| meet fellow art enthusiasts. There are tips and tricks | | | | selling price. It is important to know which policy will be |
| to enhance your buying and selling experiences in the | | | | used in order to avoid paying more than you bargained |
| art world. Not only are there several types of auctions, | | | | for. Bring a note pad and pencil with you to jot down |
| but there are also several types of art buyers. | | | | the details of items that are of interest. Also note the |
| Whether you are an art collector, investor, or dealer, | | | | item's code so you will know the item when it goes up |
| art auctions give you the opportunity to procure pieces | | | | on the auction block. Art auctions can be fast-paced, |
| that will appreciate over time. | | | | and one can easily get caught up in the excitement, so |
| Types of Art Auctions | | | | decide beforehand what your top offer will be on your |
| Auctions can be broken down into three types: estate, | | | | chosen items, and do not allow yourself to go above |
| consignment, and mixed. They can be held at a | | | | those set amounts. |
| person's residence, which is usually the case with small | | | | Types of Art |
| estate auctions, at a person's place of business, in the | | | | In accordance with its use, artwork can be divided into |
| case of consignment auctions, or in storage | | | | three categories: decorative art, collectable art, and |
| warehouses where items are often sold in lieu of | | | | investment art. |
| unpaid rent. Interesting art pieces can be found at any | | | | Decorative art is used to enhance spaces. It is often |
| one of those events. | | | | thematic and will add flair and personality to a setting. |
| The goal of an estate auction is to sell all remaining | | | | The art pieces are rarely originals by famous artists |
| items of a former residence. An estate auction will | | | | and generally possess little intrinsic value. Decorative |
| normally not place any reserves on items (a reserve is | | | | art does not usually appreciate in value, and therefore |
| the minimum amount for which an item will be sold). | | | | is not a lucrative investment. |
| Hence, estate auctions are ideal for finding bargains as | | | | Collectable art refers to art pieces that are bought |
| everything must be sold no matter how low the offer. | | | | based on the assumption that there is already an |
| Conversely, at consignment auctions, fixed minimum | | | | existing market for them because there are other |
| prices are set on specific items, and if an item does | | | | interested parties. It is unwise to hold on to collectable |
| not recover the set price, it will not be sold at that | | | | art in the hope that it will eventually become more |
| particular time. Consignment auctions will usually hold | | | | valuable. If it is a handsome piece, keep it, but if it holds |
| weekly sales, with the lowest prices being offered | | | | no strong interest to you, sell it. Collectable works are |
| mid-week. Mixed auctions will sell items from smaller | | | | not long-term investment worthy. |
| estates and will accept consignments as well. | | | | Investment art will almost always become more |
| Finding Art Auctions | | | | valuable in time. This type of art is recognized for its |
| The easiest way to find art auctions in your area is to | | | | quality, rarity and uniqueness, and therefore will always |
| do a search online. Simply type in your topic and your | | | | fetch a handsome price from an avid art collector, |
| city and you should be able to find a list of the auctions | | | | investor, or dealer. |
| being held in your vicinity. Another avenue is to check | | | | General Tips on Art Auctions |
| the local newspapers and dailies. Nearby antique or art | | | | There are exceptions to every rule, but here are a |
| stores can be useful resources as they often carry | | | | few guidelines to consider when buying/selling items at |
| pamphlets or fliers advertising regional art auctions and | | | | an auction: |
| sales. Lastly, explore online auction sites such as eBay, | | | | - Horizontal pictures are better-liked than vertical ones |
| where you can purchase articles without leaving the | | | | - Works featuring girls are more popular than those |
| comfort of your home. | | | | featuring boys. |
| Preparation | | | | - Landscapes prove to be more interesting than |
| Before attending an auction, it is wise to confirm the | | | | seascapes. |
| date, place, and time. Be especially savvy by attending | | | | - Pictures depicting images of life are more |
| the preview, where potential bidders can examine the | | | | appreciated than death scenes. |
| items to be sold at their leisure. Some auction sites will | | | | - Domestic animals or those in a docile setting are |
| have previews a few days prior to the auction, while | | | | more desirable than wild animals. |
| others open their doors only for a few hours | | | | - An artist's experimental pieces are not as valuable |
| preceding the auction. Upon arrival at the preview, you | | | | as those from his/her main body of work. |