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GuaranteeMany smaller auction rooms do not guarantee the items they sell. Make sure you read the ‘conditions of sale'. In this forum… you are your own expert. BiddingYou can bid on an item in a sale by either raising your paddle or your hand. After you have entered the bidding, the auctioneer will look to you, as the price increases, to see if you want to continue bidding. If you do raise your paddle, if not just shake your head no. Online AuctionsOnline auctions are a wonderful way to purchase art as well as other items. Online auctions are conducted in a similiar manner to live auctions, with some minor differences. However, it is buyer beware as you usually cannot physically see the items and you must be confortable with whom the seller is. PaymentAfter the sale you will need to pay for the lot/lots you purchased. Make sure you read the conditions of sale so you know what methods of payment are accepted by the auction room. Can the auction room sell lots they own?Yes, there are many items in a sale that are actually owned by the auction room. When the Hammer Falls.When the auctioneer knocks down their hammer, the bidding is over and the high bidder (if there was one) is now the owner of the lot. ExpertiseMany auctioneers rely on outside experts to authenticate the works of art being offered for sale. Picking up your purchaseAfter the sale is over and you have paid for the lots you have purchased, you will need to collect the items. If they are small you can just take them with you. If they are large, you will need to arrange shipping through a local shipping company. Guarantee on artworkWhen it comes to works of art (paintings), even the major auction rooms will not guarantee a work that was done prior to 1870. Viewing the saleWhen buying at auction, make sure you see the works in person. Do not rely on the catalog descriptions and photographs. Remember that at an auction, once you buy it, you own it! The catalogueMake sure you purchase a copy of the auction rooms catalogue. They are usually available 3 to 4 weeks before the sale. These catalogues include important information on the terms and conditions of the sale. Items in sale.Keep in mind that an auction room's goal is to sell everything they have for sale that day - regardless of its quality or condition. Returning a work you bought.In the auction forum, there are no returns... unless the work proves to be a ’fake’ and the auction room provides for this in their conditions of sale. A way to control yourself.If you are resigned to buy at auction and you are the type of person who does ‘get caught up in the action', you might be best served to leave your maximum bid with the auctioneer. HOWEVER – I only recommend this as a last resort and only with a well-established auction room. ReservesMost works of art sold at auction are offered with a reserve (the minimum price below which the owner will not sell). Make sure that when you are bidding, you are actually bidding against another interested party and not against the owner's reserve. Limit of the guaranteeWith works that are guaranteed, you are still only covered for a period of 5 years from the date of purchase (this may vary slightly). Again, read the conditions of sale. A works titleDid you know that some auction rooms do not guarantee a works ’title’? It is up to you to read their ’conditions of sale’ in order to find out. Setting limitsWhen buying at auction, set a limit and don't go over it. It is very easy to get caught up in the action and overpay for something. CharityA great way for an organization to raise funds is to conduct an online charity art auction. A percentage of sales goes back to the organization. There is no cost or risk to run the event. A Company buy the name of ArtAuctionFundraiser.com provides a complete turn-key program for organizations. If you are interested in learning more Click Here
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