Auction-Savvy

Are You Auction-Savvy?

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Authenticity vs. Attribution

It is important to understand the difference between an authentic work of art by a specific artist versus an attribution to the artist. I found this list most helpful.

For example, if you are looking for a work by Pablo Picasso consider these terms:

  • Pablo Picasso: The auction house believes this is an original work by the artist
  • Pablo Picasso (replica): The auction house believes that the artist him/herself made this work as a replica of their own, previous original.
  • Pablo Picasso (attributed to): The auction house finds it likely that this is an original work, but is not prepared to guarantee this.
  • Pablo Picasso (his studio): The auction house believes that the work was made in the artist’s studio and possibly under his supervision.
  • Pablo Picasso (his circle): The auction house believes that the work was made by another artist but during the lifetime of the named artist and in their manner.
  • Pablo Picasso (follower of): The auction house believes that the work was done in the manner of the named artist, during their lifetime or later.
  • Pablo Picasso (in the manner of): The auction house believes that the work is done in the manner of the named artist but after their lifetime.
  • Pablo Picasso (after): The auction house believes that the work was made by another artist, based on an original work by the named artist.

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Following My Own Advice

It is so easy to purchase an item online, that sometimes I forget the importance of logistics and remembering past mistakes. This is what happened to me last month. I placed an absentee bid with the auction house Uccle-St-Job in Belgium for a ceramic vase with the understanding that I would be required to send a wire transfer for payment. I asked the auction house for a shipping quote with full insurance. They provided a quote and I sent the wire transfer (including a $25 fee for my bank to process the wire transfer and an additional 25 Euros to cover the undisclosed fee by the receiving bank). I received an email from a staff member (their email correspondence was anonymous so I did not know who I was responding to) that insurance was not possible and that I should arrange shipping with FedEx or UPS. I found a UPS store in Uccle-St-Job and emailed the auction house if they could deliver the package there. I did not receive a response. I telephoned the auction house as was instructed to call back and ask for Isabel. I did so the following day. Isabel said that insurance was indeed possible and that she would send me a quote. After being told I had been misinformed that I could use PayPal to pay the additional shipping cost I had to send a second wire transfer. I sent the second wire transfer (including a $25 fee for my bank to process the wire transfer and an additional 25 Euros to cover the undisclosed fee by the receiving bank). Needless to say I received yet another unsigned email indicating that insurance was not possible and that the auction house would safely pack and ship the vase. Having little recourse I agreed. Luckily the vase arrived intact.

As a follow-up I emailed the manager of the auction house indicating my displeasure with the service and did not receive a response. I found this particularly distressing especially since the email was in English and translated into French. In this transaction I do not fault the auction house, but myself. I have seen the transformation of the European auction houses over the past 20 years. Some auction houses are entrenched in the past where customer service is either poor or non-existent. There is little or no effort to facilitate payment and shipping options. Email conversations are anonymous and misleading. If the auction house is at fault, they simply will not respond. Language is used as a barrier to effective communication. Unless there is a compelling need to do so, my recommendation is to purchase only from auction houses that accept online payment or accept credit cards, who provide in-house shipping services, or can recommend a reliable shipper that also accepts online payment or credit cards.

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Absentee Bids

If you ever been unsure about leaving an absentee bid with an auction house your concern is justified. There are two ways to leave an absentee bid: 1. Place an absentee bid directly with an auction house, or 2. Place an absentee bid with a third party online bidding platform such as Interencheres, Drouot Live, Invaluable, Live Auctioneers, The Saleroom or Bidsquare. Placing an absentee bid directly with an auction house in France is courting disaster. My experience, is that even if the live bidding realizes an auction price lower than your absentee bid the auction house will invoice you for one bid increment less than your absentee bid. For example, if you place an absentee bid for 1500 Euros for a Daum vase and the final bid is 900 Euros, the auction house will invoice you for 1400 Euros plus their commission fee. This has happened repeatedly to me. This is an unfortunate practice confirmed by my friends in France who frequently work with the auction houses. My recommendation is to not place absentee bids directly with an auction house unless you understand their absentee bid process or if you have no other options. A better choice is to place an absentee bid with a third party online bidding platform. “In most cases” the absentee bid is confidential and is not shared with the auction house. The exception that I am aware of is that an absentee bid placed on Drouot Live is shared with the auction house.

I will share a personal, most unfortunate experience with an absentee bid. I am sorry to say this actually occurred and has negatively affected my trust with certain auction houses. I placed an absentee with an auction house in France for a vase as described in the prior scenario. However, this time, I had the opportunity to watch the live auction online. The lot where I had placed the absentee bid was auctioned and sold for several hundred dollars less than my absentee bid. I was quite pleased! That is, until I received the “facture” or “bordereau” (invoice) from the auction house. The invoice was 100 Euros less than the absentee bid I placed! I contacted the auction house to address the issue, but, did not receive a response. Without any other recourse I paid the invoice. After that experience I no longer submit absentee bids if the bid amount is shared with the auction house.

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The Importance of Lot Descriptions

Each item at auction is referred to as a lot. The description of each lot is of paramount concern for the online bidder. Some auction houses describe the condition of each lot, but most do not.  In many cases, if there is no damage, the auction house does not add the condition of the lot, choosing only to communicate any damage. Other auction houses fail to disclose damages. This is a definite advantage for those attending an auction and personally inspecting each lot and a serious disadvantage to the online bidder. In the event you are the successful bidder and the lot has damages not disclosed in the description, it is your misfortune. The terms and condition of each auction house clearly state that it is the responsibility of the bidder to assess the lot condition prior to bidding. Returns are rarely accepted.

TIP: Contact the auction house prior to bidding and request a condition report. The condition report typically states that the item is in good condition and notes and damage. Additional photos, often high-resolution, are frequently provided so that you can inspect the lot more carefully.