What makes an online art auction successful?

What Makes an Online Art Auction Successful?

With such a broad range of art auctions occurring online every day, it's hard to determine which ones are actually worth your time. After all, you don't want to spend too long lingering around auctions at which you're incapable of buying anything or, potentially worse, there's simply nothing worth buying. If you're a frequent attendee of art auctions, online or otherwise, then you're more than likely aware that not all auctions are created equal. In fact, there are several very specific factors present in all successful auctions. Though all bidding events may seem the same to the untrained eye, closer analysis reveals what actually makes an online art auction successful.

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A range of offerings
First and foremost, any online art auction is going to require a relatively broad range of offerings in order to be successful. An auction limited to only a few noteworthy pieces isn't much of an auction at all, as the bidding will become crowded, greatly reducing the odds of a bidder winning a lot at a reasonable price. An online art auction that offers a broader range of art is not only more likely to attract a more varied bidding crowd for the seller, but also allows a higher likelihood for bidders to discover a hidden treasure. If this does end up being the case, and a bidder unexpectedly finds a lot that they're thrilled with, both he or she and the auctioneer or auction house benefit, making the auction mutually successful.

Authenticated art
While authenticating art can be something of a difficult process, it's a necessary one. Any successful online art auction is going to offer proof of authenticity to buyers for the pieces being sold. Typically this will come in the form of a certificate of authenticity and a detailed history of provenance or ownership extending from the most recent owner backwards. While it's entirely reasonable to assume that not every piece of art sold at auction will be accompanied by such proof, a successful online art auction will offer proof of authenticity for the majority of its lots, particularly the more expensive ones. While bidders can certainly expect to see a slight uptick in the starting price for authenticated lots, the increase is worth it when you consider how it will carry over into resale value as the piece appreciates over time.

It's important not to undervalue the role that well-executed logistics plays in determining the success of an online art auction. Given that the auction is being held over the Internet, any successful one will offer a safe and secure payment method as well as instructions for coordinating the delivery of the lots to the winning bidders. At www.iCollector.com, we offer as much transparency as we can about our auction process, including information to assist you during the pre-auction period, the auction itself and the time after bidding closes. Check out our live auctions overview to learn more about our bidding requirements, technical processes and auction interface.