By Vikki Wilkinson on May 4, 2021 12:59:09 PM
If you’re keen on art, whether you’re in the market for a one off piece to fill that space on your wall, or you’re an avid collector, online auctions offer you the chance to browse every imaginable style and budget, without leaving home.
When it comes to art, it can require some know-how. Below is a list of frequently asked questions that will help any new potential bidders begin their journey to becoming experienced buyers in no time.
I love art but I don’t have much knowledge, where do I start?
We always encourage our buyers to spend time doing their own research before making any purchase. You might want to have a look around to see what similar items have been fetching when they sell. Also, check descriptions thoroughly. We encourage our vendors to include as much information as possible in their listings, so study the detail of what you’re interested in, and if you have questions that remain unanswered, feel free to ask us and we can get more specifics for you.
Is it a good investment?
It really depends on the specific piece and the artist. it’s important to get the balance right between buying something you like and thinking about potential resale value. That way, if you do choose to sell it at any point (and fortunately end up making a profit), it’s a bonus rather than you solely relying on buying just to make money.
How do I know what is a reasonable price to spend?
As with anything at auction, research is key. When it comes to art, find out as much about the artist who made the piece and check whether these works come up regularly. This will help determine what prices you should expect.
If there’s no other interest, does this mean the item isn’t worth bidding for?
Not necessarily, no. The worthiness of the lot is dependent on more than one factor and we advise doing your own due diligence prior to the auction to be sure of the value.
What do I need in order to be a successful bidder?
All customers need to be registered with an online account before being able to bid. Do this in plenty of time as sometimes there are checks that need to be authorised to ensure you are set up in time. Once successfully registered, you’re good to go!
How do I guarantee it’s an original piece of art?
We ask our vendors to be as specific and honest as possible when listing items, so that there are no grey areas. Each item will state whether it’s an original and any further details, for example if it’s signed etc, so the buyer knows 100% what they are purchasing.
Should I request a condition report?
You can request a condition report as it will have all relevant information on previous ownership and any specifics on that particular piece (including potential wear and tear / damages). You can always ask for further images and information if there’s anything you’re not sure of prior to buying as it’s a binding agreement that you’re entering into with the vendor.
Now take a look what you could be bidding on today!