Five online art auction tips to look like you know what you’re doing
Online art auctions are a different kind of thrill. You get to enjoy all the action of a traditional auction, without the worry of stuffy events, lengthy hauls to the venue, or hard-to-crack customs of the culture at large. Instead, you can experience the dynamism and excitement of the auction from the comfort of wherever you choose – even the couch.
That being said, don’t forget that the online art auction world still has its own set of obstacles. From discovering descriptions to navigating the platform and implementing the best bidding strategy, there are a few factors to consider before you dive in. Here, you’ll find the five best online art auction tips to look like a pro, even if you’re just starting out.
Know the bidding platform
Before your bid, it is essential to familiarise yourself with your platform of choice. Whether it’s an advanced and accredited site like Charleston’s Fine Art Auctions or a different space, take the time to do your homework and get familiar with its interface. Register and verify your account in advance, then explore the catalogue to set yourself up for success.
Set your budget
Online art auctions are fast-paced and incredibly engaging – with one quick click, you can procure a new piece for your collection. The secret to bidding responsibly is heading into the hunt with a pre-established set of numbers. Set your budget from baseline to absolute top end, and don’t forget to factor in additional costs such as taxes, duties and shipping. Play within your established lines, and you won’t stray too far wrong.
Read the descriptions
Because an online art auction is, well, online, you don’t have the luxury of inspecting your pieces of interest up close. Lucky for you, auction houses provide detailed descriptions and high-quality images, especially if you’ve chosen an advanced platform like Charleston’s Fine Art Auctions. Delve into the particulars of materials, size, provenance, artist background and discipline to educate yourself and better guide your individual valuation process. This gets easier over time!
Think about timing
Patience is a virtue, particularly when you’re participating in an online art auction. This really depends on the type of bidder and collector you are, but it is a good idea to rough out a strategy for your bid timing. Establish whether you want to take your time and watch the numbers climb, or come in strong early out of the gates. Neither is right nor wrong, but understanding how you like to play the game will help you stick to your strategy when the action kicks off.
Embrace the action
Speaking of action – don’t forget to embrace the thrill of the auction! Enjoying the process and sticking to your tastes, preferences and passions will see you far in this game. Stick to your budget, stay true to your strategy and follow your eye.
Discover auctions online in Australia to get started today.
