The auction of art is an event that is exciting and exhilarating. It is a battle between art speculators and wealthy collectors for the finest pieces. It also sets the mood for the entire art market. A successful sale signals a continued boom in the art world, while a poor sale undermines confidence in the industry. It is also hugely entertaining to watch, as record prices elicit gasps and applause. Many art auctions have celebrity bidders who stir up the crowd. However, the auctions can sometimes seem like a mystery, and it is best to consult an expert before placing a bid.
A new auction will be held on 7 April 2011 that features over 400 lots of art from various countries and periods. There will be an enormous variety of styles and periods, and a variety of materials. One of the more remarkable items in this sale is a bronze gazelle, estimated to be from the late 10th or early 11th century. It is estimated to be worth one million APS. Another highlight is an exquisite gold and turquoise-hilted knife from the golden period of Ottoman art.
Art auctions are a public event, and participants must be at least 18 years of age. Potential buyers can view the art on display beforehand, to inspect its condition and provenance. Once they’ve registered, potential buyers will be given a bidder card, or a paddle. Their paddle number is used to identify who is bidding for which artwork.
Paintings are the most common medium at auctions. Famous paintings often sell at the highest prices. Leonardo da Vinci’s Salvator Mundi sold for 450 million dollars in 2017, but other record-breakers include Paul Gaugin, Jean-Michel Basquiat, and Jackson Pollock. However, auctions are not limited to major artists; there are small-scale auction houses that present catalogs that give a general idea of the cost of various artworks.
A recent auction at Christie’s, for example, sold three works by Egyptian artists Mahmoud Mokhtar and Bahman Mohasses. These works, dated around 1929-30, were given as gifts to the teacher Jules-Felix Coutan. Another piece by Italian artist Elmo Antico, which was created in 1930, is a fascinating insight into the artist’s passion for ancient civilizations and grotesque malformations.
This study offers a new perspective on the auction of art and the social relationships that emerge between collectors and antiquities. This analysis shows how the auction market became a competitive arena, and how its physicality affected the narratives. In the long eighteenth century, the auction market constituted a vital space for dialogue between antiquities and their owners.
While the Consumer Rights Directive may have restricted the traditional auction process, passionate buyers of art have not shied away from participating in such events. This has led to the hybridization of art fairs. Although the laws aren’t keeping up with the times, these events are still largely legal, and buyers are still entitled to repurchase pieces that they don’t like.