Read these 19 Auctions Tips tips to make your life smarter, better, faster and wiser. Each tip is approved by our Editors and created by expert writers so great we call them Gurus. LifeTips is the place to go when you need to know about Framed Art tips and hundreds of other topics.
Online 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.
Yes, there are many items in a sale that are actually owned by the auction room.
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.
After 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.
When it comes to works of art (paintings), even the major auction rooms will not guarantee a work that was done prior to 1870.
When 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!
Make 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.
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.
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.
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.
With 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.
Did 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.
When 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.
A 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
Guru Spotlight |
Jolyn Wells-Moran |