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  Onsdag, 19 Marts 2014

An art auction house: how they work, what they are, and how to start one.

auction house
An approach to the art auction houses.
"The art seems only to be worth if it is in an auction house or on a wall of a museum."
 
How does an art auction work?
They are organized sales where the product is sold to the highest bidder, events that have distinct phases and competition rules. An art auction is an auction like any other, what varies is that the objects on sale are works of art.
 
What are art auction houses?
 
There are many types of art auction houses: international, regional, online. Each has its own way of working, their conditions, methods and procedures, but the auctions are basically the same.
It aims to be brokers, promoters of connectivity and transparency. The auction instance provides a great artist diffusion through catalogs, presentation of his work and his image, and presents to the buyer a reduced risk of errors on authentication and appraisal.
 
How to start an auction house?
At first
  • Define what kind of items you plan to sell.
  • Do market research in the area where you plan to locate your business.
  • Research the competition.
  • Photograph the pieces you're going to auction in order to have a catalog or inventory and a description of each, be honest and mention if has any defects or breakage.
Physical space
  • To start your own art auction house you need a space that has storage room for pieces to potential buyers and a small stage for the auctioneer.
Legal
  • Find out the steps you must follow to make it a completely legal and regulated commerce. They vary by country and region.
Advertising
  • Do not forget to advertise your business in local newspapers or radio.
  • Enter your company for free in Tuugo, there you can enter your address, phone numbers, hours of auction, payment methods and can also upload photographs for many potential customers near you, and be known for local customers.

 

Sources
Melina Nuñez  - Tuugo Blog Team

 

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