A Fine Art Auction is the sale of works of art. These auctions usually take place in auction houses. The sale of art works is done through the bids of bidders. The pieces that are sold are often quite expensive. The price of a piece of art depends on the condition of the piece and the location of the auction.
Before bidding on an art piece, make sure you do your research. Each auction house has an online catalog where you can find information on each piece of art, including photographs, descriptions, and prices. You may also want to contact an art expert to make sure you are buying an excellent piece of art. There is a lot of excitement associated with bidding at an art auction, so be sure to set a limit and stick to it.
Auctioneers need to be licensed by your state. Currently, 37 states require auctioneers to be licensed. You may also need special licenses to conduct certain types of sales. A professional organization can help you learn about the licensing requirements for fine art auctions. You can also check with the local licensing authority for your state.
Sotheby’s is the oldest fine art auction house in the world. It operates through 80 offices across the world. The first auction was held in 1744 by Samuel Baker. He was a successful bookseller, occasional publisher, and entrepreneur. Eventually, he opened a fine art department and wooed private collectors. His most famous auction was the Weinberg Collection, which went for $1 million.
