Bids From Your Living Room at The Online Art Auction
Whether we have actually been to one or not, most of us are familiar with the concept of an auction. The auctioneer leads the selling process, gavel in hand, whilst each potential buyer bids with the most furtive of gestures - a tactful nod of the head or a singular finger raised without ceremony in a manner to which all but those taking a close active interest would remain oblivious.
As if almost by telepathy, but in truth from years of experience, the auctioneer knows where to look. Usually as the big finale approaches only a few, perhaps only two, remain in the race. A dealer or a collector, a connoisseur of works of art or maybe even just a private individual to whom thought of buying that particular item appeals, will go to the personal limit that they have set and then bow out gracefully, leaving the last and bravest participant alone in the field when the gavel falls and the deal is struck.
The formal business is done away from the big show itself. The buyer is happy with his or her acquisition and the seller receives payment, minus of course the commission paid to the auction itself.
What this commission will amount to varies according to where one happens to be. The big auctioneers, such as Sotheby's and Christie's, do receive a substantial share in return for the prestige they offer in bringing your art works or artefacts before an exclusive and well-healed audience.
Of course today, like so many other things, much of the process of auctioning goods can be reproduced online. The most obvious example is eBay where one can place the goods we wish to sell before a potential audience of millions and release them to the highest bidder following an agreed period of time in which bids may be submitted. A minimum price is set above which the highest bidder will collect.
However where a specialist market is involved there are distinct advantages to the dedicated online auctions that are evolving. One such is the online art auction in which the artist can sell material and collectors can buy their wanted items, paintings, digital art, sculpture, sketches and suchlike.
An additional advantage to dealing through small, specialised online auctions is that commissions are frequently lower and relisting is usually free or at least not prohibitively priced as is sometimes the case elsewhere. In addition they appeal to a committed market that has expert knowledge of the type of product on offer.