Art Auctions of America

Online bidding and and auctions-2

On the day of the auction, the prospective bidder logs on and bids with simple console settings. Most of these programs provide the bidder with information for distinguishing online competing bidders from live bidders. If the online bidder wins the auction, s/he is contacted by the auction house for payment. The buyer is charged the normal buyer’s commission, and there may be an additional charge for the internet service. This is usually around 2-3%. There are shipping charges that will be added to the buyer’s fees.

Another service provided by these online bidding firms is receiving notifications upcoming auctions of artists and art which you have express interest. So a California collector who collects the Hudson River School painters has easy access to New England auction houses which specialize in this genre. Conversely, a New England collector has a chance to bid on work that might be available in California.

Another consequence of these online auctions is the increased availability of information regarding auction prices since most of these auctions report the result of their auctions to the subscription auction sites. Thus, although online auction service has benefited both sellers and buyers, dealers have seen their profits erode as buyers and sellers have much more information regarding art evaluation.

Online Bidding and Auction Sites

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