5 Online Art Auction Tips to Look Like You Know What You’re Doing
Ah, online art auctions, the thrilling lovechild of purchasing grandeur and the convenience of shopping in pajamas. No need to worry about poker faces, snooty stares, or accidentally raising a paddle because you sneezed. Virtual auctions are all about adrenaline-packed clicks and the satisfaction of outbidding someone named “Cool_Lector_1984.”
But don’t be fooled. Buying art online has its own set of challenges. From deciphering descriptions of lots to navigating the tech minefield, it can feel a bit overwhelming. Luckily, Gray’s Auctioneers is here to guide you through the virtual auction jungle with a mix of practical advice and just the right amount of ‘you can do it!’ Let’s dive in.
1. Know the Bidding Platform
First things first: familiarize yourself with the online auction platform. Whether it’s a seamless site like Gray’s Auctioneers (ahem) or another platform, take some time to explore its features. Sign up in advance, create an account, and test the waters.
Look for these specific bits of information:
Is there a registration fee?
How do you place bids? (Manual vs. automatic bidding can make a big difference.)
What’s the fine print on shipping and fees?
You don’t want to be mid-bid and realize you’re unclear on how to confirm your offer or, worse, accidentally bid on the wrong lot. Trust us, no one needs that velvet armchair delivered to their doorstep unexpectedly.
2. Set a Budget (& Resist the Urge To Constantly Change It… Mostly)
Online auctions are like eBay on steroids: fast-paced, exhilarating, and occasionally heavy on your wallet. With just a few clicks, you can go from a responsible collector to someone who’s just spent three months’ savings on a painting that barely fits on any of their walls.
Avoid this fate by setting a clear budget before you log in. Decide not only the maximum you’re willing to spend on a single piece but also factor in buyer’s premiums (usually 20-25%) and shipping costs.
3. Read the Lot Descriptions (Yes, All of Them)
In virtual auctions, you don’t get the luxury of standing two inches away from a painting and squinting like an art connoisseur. Instead, the description of the lot is your holy grail. Auction houses like ours (wink) spend time crafting detailed descriptions, so don’t skip them.
We’ve got plenty of tips on how to know what you’re collecting, but some in particular to pay attention to:
The medium (oil on canvas vs. digital print)
Dimensions (Will it fit above your couch or even through your front door?)
Condition (Is it pristine or in need of a little TLC?)
Provenance (Basically, the art’s biography. Has it lived a good life?)
Hi-res images (any auction house worth their salt will offer hi-resolution images of a piece without a problem)
If something isn’t clear, don’t hesitate to ask for more details or additional photos. We won’t bite, and we’ll gladly help you make an informed decision.
4. Timing Is Everything
Online auctions are a test of patience. Do you bide your time & strike when the price is right, or do you swoop in like a digital ninja with a last-second bid? The answer is it depends on your strategy.
If you’re confident and want to establish dominance (or just intimidate your old pal “Cool_Lector_1984”), throw in an early bid. It shows you mean business. However, if you’re feeling cautious, wait until the final moments to make your move.
A word to the wise, though: be careful. Some auctions extend bidding times if last-minute bids roll in, so don’t bank on “sniping” being foolproof. And make sure your Wi-Fi is rock-solid. Losing connection mid-bid is the virtual equivalent of tripping on your way to the paddle raise.
5. Embrace Auto-Bid (But Don’t Forget to Watch)
Many online platforms offer an auto-bid feature: you set your maximum bid, and the system incrementally raises your offer if someone else tries to outbid you. This can save you from obsessively refreshing your screen every 10 seconds.
It’s recommended to still keep an eye on bidding so you can adjust your price if you have an item you really love that other bidders have their eyes (& bids) on, too. Once your max bid is reached, without you intervening, your bid will not go over that price point and anyone bidding higher will win out.
Bonus Tip: Have Fun (No, Really, Enjoy Yourself)
Sure, auctions are about snagging the pieces you’ve got your heart set on, but they’re also about the thrill of the hunt. Online auctions make it easier than ever to participate from anywhere. So pour a glass of wine, turn on some music, and enjoy the experience.
Even if you don’t win, you’ll learn much about the art market, get a feel for your tastes, and maybe even find inspiration for your next auction adventure.
And when you do win? Along with the satisfaction of knowing you outbid someone halfway across the globe? Priceless.
Final Thoughts for Owning Your Art Auction Experience
Virtual art auctions are a collector’s playground, blending the excitement of live bidding with the convenience of shopping from home. With these tips in your back pocket (or taped to your computer screen), you’ll be ready to navigate online auctions like a seasoned pro.
So, what are you waiting for? Reach out to Gray’s Auctioneers and check out our next auction. Treasures await – no paddle required. Happy bidding!