How is the price formed?

For representatives of creative professions, collectors, owners of art galleries, and art patrons, an art auction is a convenient trading platform where it is possible to sell or acquire an item of artistic value. Not all artists arrange exhibitions, and many valuable artifacts are already in private collections, so it is easier to acquire them through the auction system. This is how paintings, books, figurines, antiques, and other cultural values are sold. Art auctions are conducted differently. Often, items from a specific era are exhibited (for example, paintings by Impressionists or Pre-Raphaelites) or thematic paintings. Sometimes auction houses hold auctions dedicated to the work of one artist or several painters. Auction house staff select valuable works, prepare a catalog, hold a preview exhibition, organize the auction, and evaluate the results. Art auctions provide an opportunity for artists to sell their paintings and attract art enthusiasts, while collectors and art lovers can find rare lots of high value. There are several systems of conducting auctions: 1. English: A starting price is set for the artwork, and each subsequent participant increases the bid. If none of the participants give the starting price, the item is considered unsold. 2. Dutch: The lot owner sets a minimum limit and the starting price. The bids can go up or down, but the price should not exceed the minimum limit. There are open and closed auctions. In the former case, participants know each other's bids, while in the latter, they submit their offers to the organizer, who selects the maximum price. The second selling system is riskier, but it puts participants on equal starting conditions. One of the modern innovations in this industry is electronic auction platforms. Participants make bids online.In online mode, you do not need to travel to another city or country to participate. This system has made works of world art more accessible to a wide audience. Famous trading platforms Some antique and art auctions have been operating for hundreds of years and have gained worldwide fame. Others are just starting to gain popularity and attract connoisseurs of antique items, sculptures, and paintings. Let's list the most famous auction houses: 1. Sotheby's (Сотбис). This American house was founded in 1744 and initially specialized in rare books. Today, Sotheby's experts work in different countries around the world, and international auctions are held regularly. 2. Christie's (Кристи). It started in 1766, and there are a total of 54 offices and 12 halls operating worldwide. This is one of the largest European auctions. 3. Violity (Виолити). This foreign platform is oriented towards lovers of ancient and extraordinary artifacts. Here you can buy antique decorative items of high value. 4. Gelos (Гелос). It is one of the first auction houses in Russia. It is popular not only among Russian buyers but also among collectors from Eastern European countries. 5. Vladey (Владей). One of the newly established Russian houses that has gained wide recognition. It is primarily an auction of contemporary visual art, featuring works of young talents. It is primarily oriented towards Russian buyers rather than foreigners. How is the price determined? The cost of a work of art depends on several factors: the popularity of the author, the artistic direction, and the time of creation. The earlier the work was created and the further it is from the present time, the higher its value. The place of sale also plays an important role: prices for paintings, statues, and other items are often several times higher on major foreign platforms than in Russia. Due to economic and market conditions, art prices can also fluctuate.Foreign collectors often come to Russia to expand their collection without unnecessary expenses.

Unique masterpieces by recognized artists are especially highly valued. They evaluate the technical condition of the object, its age, the artistic skill of the author, and other parameters. The authenticity of the lot is also of great importance, and experienced experts deal with this issue.

The old auction trading system remains relevant worldwide. To this day, it is still one of the effective methods for expanding a home collection or selling valuable artifacts for a substantial amount.