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How To Buy From An Art Auction Like A Pro

Art auctions are fun and all, but they are definitely overwhelming, especially for newbies. The thing is that auctions vary widely, and every person practices a different bidding style from each other and experience would be the best teacher for newbies to find their own. Nonetheless, there are some basic guidelines you can adhere to start you off on the right path. Read more about them below.

  1. Research

Doing intensive research on the piece you wanted may be time-consuming, but it can definitely save you a lot of money moving forward. With research on your side, you would know exactly what you are bidding on or how aggressive you want to be. If you feel like the information you’ve gathered is not enough, make time to ask experts about the piece that you want.

  1. Absentee Bidder

Now that you’re done your research on the piece that you want and you have a good idea on how much you are willing to spend on it, how are you going to present yourself and bid? One great way of bidding, especially for newbies, is by being an absentee bidder. By being an absentee bidder, you eliminate the factors that might make you overbid such as being caught in the excitement of the auction.

  1. Observe the Reserve

Understanding the reserve price of the piece that you want can help you decide on how aggressive you want to be on bidding. Reserve prices cannot legally be revealed by the auction house, but it cannot be greater than the lower number of the estimate.

  1. Make your voice known

If you trust the level of self-control that you have and think that you won’t get caught up in the excitement of bidding, you can definitely go to the auction in person. In there, you would notice the different styles in bidding in the room. Some like to start strong in the beginning and make a good lasting impression by bidding until they reach their limits while others sit back and wait for the bidding to slow down and place their bids. No matter what your style is going to be, just make sure that you don’t lose your chance!

 

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