Fine Art Auctions - A guide to navigation Them

This is not Ebay, folks.

With more and more people have disposable income and looking for ways to spend it, art is becoming an increasingly popular to decorate the house. While many of these pieces are bought from art galleries in cities around the world, the most prestigious works are auctioned to the highest bidder. At the same time, if you're thinking of buying a piece of art, it is important to understand the complicated process that takes place behind the scenes.

The largest fine art auction houses are Sotheby 's, Christies, Lyon & Turnbull and Bonhams. In any given year, billions of dollars of art can cross the counter at each of these famous institutions. Each house has several auctions a week, with stocks ranging from furniture to art to random pieces of Americana. This article will serve as a primer based on the process of buying it.

The first step is to find an item that you are interested in. Most auction houses have online catalogs and programs that you can sort through to determine when items come up that you might want to make an offer. Once you have found something, you can buy it in person, through a proxy, or through an offer absent.

The most exciting way to purchase that perfect piece of art is to attend the same auction. There's nothing like the high octane atmosphere of offer, and making that split second decision to increase the paddle and then the price. This also ensures a complete control over the process, and the ability to react quickly to other providers offer. Once the last bid was placed, the auctioneer will allow a short period of time to pass before assigning the highest bidder with the piece.

If you can not make it to the auction house, there are other options, however. Most houses will be happy to accept "absentee" bids. Just get a form from a catalog or website and return by fax or by mail with the maximum price you're willing to pay for a particular piece of art. You can also use these forms to register for the offer by telephone, through which a representative of the auction house remains on the whole line of the rod which acts as a mediator between you and the auctioneer.

Once you have been announced as the winner, it's time to pay your new prized possession. In most cases, the credit cards are accepted, even if not all sites accept plastic. For items at higher prices, most auction houses will charge through your bank with a cashiers check. You can pay immediately, or request an invoice, after which it is given an allocated amount of time to make the payment.

Purchase of art at auction is a great way to explore the world of art. If you are lucky and do your research, it is quite likely to find a bargain. The same rod can also provide a great story to accompany the beautiful new piece hanging above your mantle place .......