Auctions are a crucial part of the art market, providing a venue for selling and buying artwork with global visibility. Understanding the auction process and employing strategic approaches as a buyer or seller can help you navigate this dynamic market effectively.URL :waddingtons.ca

Auction prices are influenced by demand, competition and supply. For example, if an artist’s work is in high demand and supply is low, auction prices will rise faster than if the opposite is true. In addition, an auction house’s fees (premiums) can have a significant impact on the final price of an item. Nevertheless, by using careful research and strategies, it is possible to purchase works at auction for a bargain.

Art and Antiques Auction Guide for Sellers and Buyers

Whether you are looking for antiques, fine arts or decorative arts, an art and antiques auction is the place to find what you are seeking. However, to ensure you are making an informed decision when purchasing, it is a good idea to visit a few auctions and/or antique jewellers before you start bidding. Taking notes on the items you like and learning more about the period will give you an advantage when bidding, as you will be better equipped to determine if you are getting a good deal.

In addition, attending auction previews will allow you to inspect the artworks in person and assess their condition. It is also helpful to understand the auction house’s fee structure, including the buyer’s premium (a percentage added to the hammer price) and any additional taxes or fees.