Tips for Buying Modern Art at An Online Auction

DANE FINE ART

TIPS FOR BUYING MODERN ART AT AN ONLINE AUCTION

Online auctions are an adventure, but if you’re a novice auction buyer, it helps to have some direction on what to look for and what to consider when you’re bidding on art through online auctions.

ONLINE AUCTIONS ARE FUN AND REWARDING OPPORTUNITIES, WHICH IS WHY 83% OF PEOPLE SEE THEM AS EXCITING WAYS TO FIND GREAT DEALS, WITH HIGH VALUE AND A GOOD PRICE.

ONLINE AUCTIONS ARE AN ADVENTURE, BUT IF YOU’RE A NOVICE AUCTION BUYER, IT HELPS TO HAVE SOME DIRECTION ON WHAT TO LOOK FOR AND WHAT TO CONSIDER WHEN YOU’RE BIDDING ON ART AT ONLINE AUCTIONS.

HERE ARE THE TOP 10 TIPS FOR BUYING MODERN ART AT AN ONLINE AUCTION

1. Find a Reputable Online Auction Make sure you read the reviews of the auction house you plan on bidding with Reputable auction houses are well-established with many years of successfully selling fine art to collectors and art lovers worldwide

2. Register for the Auction Once you find the ideal work of art and Online auction you would like to participate in, you must register and be approved to bid by the auction house hosting the online auction

3. Remember the date (and time) Online art auctions have a beginning and end date and time, and some auctions run for several days. So, the first key to a successful bid is to track and remember the date and time of the online auction

4. The Starting Price and Estimated Price Range The starting price and estimated figures are based on historical sales of the same or similar work, the condition, the medium, market trends and the provenance of the work

5. Filter by Your Interests With an online art auction, you can focus on the artists you like and the actual art form you prefer

6. Keep an Eye on the Deadline – Don’t Miss Out Depending on the interest level, you may have a better chance of winning the bid if you wait until closer to the deadline before actively bidding

7. Buy What You Love Pick modern art that you’re drawn to, that speaks to you, and that you really love. That’s why it’s best to follow your heart

8. Winning the Auction and the Buyer’s Premium The winning bidder at auction is required to pay the final bid price and the percentage of that price called the buyer’s premium

9. Pay When you Win Be prepared to complete the transaction in a timely and professional manner. Remember, this is probably not the only online auction you’ll participate in

10. Shipping Most reputable auction houses can also ship the item directly to you, or help you arrange packing and shipping with a third-party carrier

What’s the Next Step?

We want to make the online art auction experience as easy and streamlined as possible. We’ll take all the guesswork out of the equation. We also want to make it easy for you to find the modern artwork that you’ll love.

Find insights and resources at Dane Fine Art

Dane Fine Art 606 Spring Garden Street Philadelphia PA 19123