The auction house remains a little-known place to this day, little frequented by those who are not dedicated to the art market. However, among them we can find all kinds of works of high artistic interest. Visiting the exhibition organized before the auction to show the lot is an opportunity that we must take advantage of. What many people do not know is that the auction is public and anyone can participate, bid on the lot or be a spectator.
TheBillionArt online auctions are open to galleries and artists . Our auctions focus on modernity and the convenience of doing online.
Get in touch with our team and we will include your works in our next auction.
Auctions are one of the most important engines of the art market because they represent a very dynamic pricing method. They are a key point because they promote the connection between suppliers and customers, thus helping to create economic and market value.
At the top of the list are New York and London, but Sydney, Los Angeles, and Chicago are also landmarks. However, in Europe, compared to other parts of the world, very few auctions take place.
Before starting to explain what the management of an auction house consists of, it is necessary to understand the different prices that we can find in it.
Face-to-face auction houses
Currently the art organization TheBillionArt does not carry out face-to-face auctions, but below we show you several well-known auction houses that do have them and you cannot miss them.
Sotheby's, the classic of London classics. This famous auction house was founded by businessman Samuel Baker in 1744 and has since become the most prestigious auction house , with 250 auctions each year, divided into more than 60 categories .
Christie's, another giant in the auction industry, rival to Sotheby's. Like the previous one, it was founded in London, although a little later, especially in 1766, by James Christie . Typically, around 450 auctions are held each year , divided into more than 80 categories.
It was also founded in London and has been around since it was founded in 1793 by Walter Burnham and Thomas Dodd . Born to become one of the largest auction houses in the world, although it ranks third, it holds more than 600 auctions each year , divided into 60 different categories, 26 of which are related to art.
One of the oldest auction houses in the world. It was founded by Emperor Joseph I in Vienna (Austria) in 1707 with the purpose of allowing decadent nobles to make art at fair prices and anonymously .
Appraisal Price: The estimated market value of this job. It is known through the study of similar works and the prices made on them.
Estimate Price: This is a price range, always two quantities. For example, the estimated value of a work can be between 1,000 and 1,500 euros. The auction price is expected to be within this price range.
Starting price: It is the price at which the bid begins.
Reserve Price - The lowest price the seller is willing to charge for the part.
It may be lower than the estimated price. If the work is not sold at auction, but interested buyers, the seller may set a lower price than the estimate.
Auction price: the price at which the auction target ends. When the highest bid is reached, the auction for the lot ends.
Record price: it is the highest price reached based on historical prices.
Global Reward Price - This is the final price for the buyer to take the job.