Art Auction Online is an exciting new way to purchase and sell fine art. The online environment allows both buyers and sellers to participate, and is highly transparent. This makes it an excellent alternative for newbie art collectors and investors looking to add a large collection of works by leading artists and modern artists. However, this new way of purchasing and selling art does have some downsides.
First of all, it’s important to do your research. Most auction houses publish an online catalogue that features images, prices, information about artists and exhibitions. However, this information can be difficult to evaluate without the help of an expert. That’s why it’s recommended to use an art expert to assist you with your purchase.
Many traditional auction houses have begun paying attention to art auctions conducted online. Start-up businesses like Paddle8, Auctionata, and Artnet have built a strong online presence to attract art buyers. There are also numerous new art auction sites in the market. Many of these sites allow users to bid anonymously and view live auctions on their websites.
Pre-auction estimates are based on a variety of factors, such as past sales history, popularity of the artist, and market trends. As such, pre-sale estimates may be way off from the final price. However, you can still make an educated guess as to how much a piece will sell for.