Friday, October 30, 2015

Artsy's "new" collector’s guide to buying art at auction

ARTSY
By Meredith Mendelsohn
Sotheby’s New York Contemporary Art Evening Auction, 12 May 2015. Photo courtesy of Sotheby’s.
For new or aspiring art collectors, auctions can provide an excellent point of entry into the marketplace. Auction salerooms are open to the public and new bidders are always welcome. One of the best things about buying at auction is the wealth of information that is made accessible via catalogues and online resources such as this one: details about provenance, exhibition history, condition, and, of course, price. [link]

We compiled some guidelines:
  1. Know what you are buying
  2. Read the fine print, and don’t hesitate to ask if you need more info
  3. It’s okay to act natural
  4. Tune in to auction etiquette
  5. Embrace opportunities to see art
  6. Understand that estimates are on your side