Tips to Help you Buy at Auction by Patricia Frischer and Joan Seifried

1. Get the catalog before the auction to read the conditions of the sale. This will give you the definition of the attributions and the percentage of tax payable as well as any other additional charges like auction house premiums added by the auction house to the bidding prices and a paddle fee which may be charged to enter the bidding.

2. For important, expensive and, or, historical paintings, research the artist's value by referring to previous auction sale records. You can contact an auction house and get the last three sales prices for any particular artist. Yet another option is to check books, catalogues, biographies, exhibitions of interest, the history of the artist, etc…

3. Set a limit to your bid high point. Experienced bidders do not bid first but instead comes in at a point that they are the one to bid at their high point. That way they do not spend an unnecessary higher price. You can gain experience by bidding early and dropping out, but never bid on a work you do not want to own. The auctioneer may start the bidding below the reserve price. Remember if the work does not reach its reserve it will be bought back in by the auction house.

4. Jump a bid by a considerable (but relative) amount to show that you are a serious bidder. This might scare off other bidders.

5. Absentee bidding is possible by leaving a bid with the auctioneers or by telephoning and bidding through an auction house representative.

6. Look for mistakes in the catalog, which might put others, bidders off and give you an opportunity to take advantage of confusion. However, if the auction house noticed the mistake after the auction they can cancel the sell.

7. Take a good look at the work, front and back, top and bottom even if you have to ask the staff to show it to you. You can discover more information and maybe see flaws that will influence you.

8. Always attend auctions on rainy days and you will have less people to bid against.

9. Sit in the back so that you can see your opponents

10. Dress well. But no Prada or diamonds unless the gala occasions calls for it.

11. Look for the over sized and undersized works as people normally can't hang these. They are sometimes the real bargains

12. You don't have to stick with an historical period in collecting - or one style of art - and this is never more true when something hits you at an auction preview and then hits you again at Auction. Trust your instincts.

13. Look for art in all the wrong places - The greatest painting you ever buy might be at a farm machinery auction.

Additional tips for buying at Charity Auctions and Silent Auctions

San Diego does not have it's own local branch of major auction houses like Christies, Butterfield's or and Sotheby. But we do have a large number of charity art auctions. Look for those associated with Arts Organizations, Galleries and Museum. They are dedicated to fine art and have a good choice with the necessary information. Fine Art as part of a charity auction for a good cause is a chance to pick up some bargains amongst the restaurant coupons and day spa/travel offers, but buyers beware. Event organizers are not specialist in fine art and you have to be your own detective to assure authenticity.

Silent Auctions allow you to bid for a work of art on a nearby piece of paper instead of a live bid. The bidding usually gains momentum right before it is closed so it is necessary to have your high bid in mind and stand close to the art that you want the most at that time to assure success.

Auction rules can vary so make sure and read and/or discuss these with the organizers before bidding begins.

Look for other topics in the SmART Collector

Seven Types of Collectors

Commissioning Art - Joan Seifried at Galerie D'Art International written by Lisa Roche (Report on the Art Collectors Round Tables, 2004)

Ten Tips on Collectiong Arts Here is a sample: Trust Your instincts, Educate Yourself, Arrange a Trial Period, Establish a Realationship with the Artist, Bring A Friend, Art can be a Memento, Recycle Art, Look in Unusual Places, Art Shoud Stand the Test of Time and Celebrate your Purchases.

For more information contact info@SDVisualArts.net