For both aspiring and new art collectors, going to auctions be a great way of penetrating the industry. Auction salesroom caters the public and new breed of bidders are all welcome. With the growing number of digital auction platforms over the web, it’s never been simpler to make bids online. Among the best things when it comes to buying artworks from auction is the abundance of information available. You can get to know pretty much anything you think of from:
· Exhibition History
· Details about Provenance
· Condition and;
When you in the auction whether it is online or in actual building, it is quite tempting to place orders of various artworks. Remember this, before making a purchase, it is synonymous to finding the best vacuum for carpet – reviews and buyer’s guide. Meaning to say, you need to be vigilant and careful with your decision.
It is extremely important to follow guidelines to ensure that you would only make a smart purchase and in return, turn it into an investment.
Take Time Reading the Fine Print
Majority of the artworks you’ll see at auctions are offered on secondary market. This means that it was under someone’s possession before. Don’t think about it as a drawback. Because it can actually amp up the value of the artwork as the history adds value to the object. This is true especially if the previous owner was a known institution or prestigious art collector.
Auction houses normally include condition reports if there’s a need for one but it is the buyer’s discretion to read it. If ever you were not able to see one, then don’t be afraid to ask. With more historical works, it is vital to know as well that they’ve been documented via proper channels and medium throughout time.
Trying to blend in a room filled with veteran and experienced bidders moving at fast pace could be intimidating. But it is something that should not faze you. Though try to act normal. Feeling nervous throughout the time that you’re in the auction will do no good. So keep that in mind.