3 Tips For Buying Art At Online Auctions
Participating in an online art auction can be a thrilling experience, but only if you're prepared. Fortunately, there are several steps you can take to ensure you're ready when it's time to bid on that perfect piece of art. To get a better idea of what's most important during the preparatory stage, keep reading below for just three helpful tips to keep in mind.
Educate Yourself
If you're a novice bidder, take a look at the online seller's catalog at least a few days prior to the auction. This will give you the time necessary to get acquainted with the works on sale, as well as similar works in the same genre or by related artists. If an online auction is focused on Native American art, for example, you should familiarize yourself with artists from the same nation or tribe, as well as those who work in the same medium. You should also take a look at the available filters, which can let you easily narrow down your search if you're only on the hunt for limited editions or other rarities. All of this can, in turn, allow you to infer a likely price range and make a more educated decision during the auction itself.
Confirm the Official Rules
Though some similarities certainly exist, not every online auction is conducted in exactly the same way. As such, it pays to contact an online auction house and confirm the rules that bidders will be expected to abide by on the day of the auction. This can save you time and money — plus possible embarrassment or disqualification in worst-case scenarios. Whether you're a novice bidder or you have a wealth of experience, don't forget to clarify any confusing rules regarding the auction's procedures and processes.
Don't Assume Interest Level
Online auctions are somewhat unique in that they often present more difficulties when attempting to gauge interest in a particular piece or artist. Because of this, it is smart to never assume that the interest level will be especially high or low. If you assume the former and end up mistaken, you may lose money by placing a bid that is too high and never countered. On the other hand, assuming the latter will mean that you are not prepared to enter bids until just minutes before the auction deadline. Rapid-fire bidding usually proves overwhelming for all except the most experienced of bidders.
For more information about online Native American art auctions, contact a local company.