5 Things to Know Before Your First Art Auction

Image: Charleston’s Fine Art Auctions

Art auctions are exciting, fast-paced and unlike any other buying experience. Online auctions offer a thrilling atmosphere and access to a wide variety of rare artworks from anywhere in the world, delivering all the energy of the auction’s lively pace coupled with the comfort and convenience of modern online shopping. To enjoy your upcoming experience to the fullest, discover these five things that you need to know before you place your very first bid in your first online art auction.

1. Register Ahead of Time

Before you place your first bid, take the time to find a high-quality online auction house platform. The right online destination will offer a curated selection of fine art, home contents, and rare-item auctions with regular event dates, plus a trusted user-history database and clear, easy-to-digest information and images. Once you have found your provider of choice, register online with your personal details and verify your account via email. Load everything you need to submit ahead of time so that when it’s time to bid, you’re set up and fully prepared.

2. Explore the Platform

Before the auction begins, you have the opportunity to explore the auction house’s digital catalogue, artist bios and other online or physical resources to help curate your wishlist ahead of the event. This is an excellent way to develop your collector’s eye and better understand current market value across a range of artworks. Plus, you can explore artwork dimensions and condition to help determine whether it will be a perfect fit for your environment and collection.

3. Shape your Budget

One of the most important steps on your auction journey is shaping your budget. Without a budget, you risk getting swept up in the energy of the auction and experiencing buyer’s regret, which no one wants to encounter. Prepare for the unexpected and decide how much you are willing to spend on your next piece. Set a minimum and maximum to guide your bidding, and don’t forget to factor in additional costs such as duties and shipping.

4. Consider your Collection

Whether you already have a robust art collection or you’re a first-time buyer, it is essential to consider the pieces you hope to introduce into your environment and how they will flow with what you already have. This can be literal, with key criteria such as dimensions, colours, and textures affecting how well an artwork fits within a space, or based on valuation, such as deciding whether the work is a long-term or short-term investment for your portfolio. Consider your own collection and environment first, bid later!

5. Connect with the Art Market

Lastly, tap into the wider and wonderful Australian art market to guide your eye and nurture your newfound passion for the art resale world! Unlimited resources are on offer, and taking advantage of the information and history out there will undoubtedly serve you at your first auction and beyond.

Discover online auctions in Australia to begin today.