View Single Post
Old March 6th, 2007, 09:52 PM
UConn1's Avatar
UConn1 UConn1 is offline
Senior Member
Join Date: Mar 2002
Location: Las Vegas, NV
Posts: 2,033
Send a message via AIM to UConn1 Send a message via MSN to UConn1

CA Cruiser is right - do your research first. I have purchased 5 pieces of artwork from the Park West auctions and have, in addition to their appraisals, had my own done by independant appraiser. On the 5, I bid a total, and won, for $1100 in total, I got an independant appraisal of $4500 in artwork. Add the frames to that and it goes up - I spent more on framing than what I paid for the artwork itself ($1500). I now have my artwork insured on a separate policy, and each year I will increase the value a little and update the policy. Your insurer will want copies of appraisals and framing invoices.

You need to know a little about what you are bidding on, but the auctioneers give you good information about each piece. Make sure that you question them at the preview event - they will provide good information.

When a mystery auction comes up, bid on it - you are not obligated to purchase. But if you like the deal, then you can get some great deals. On my cruise last month, one of the mysteries was Peter Max for $5200 - what a steal!

Also, if you see something you like, and are outbid, and you decide you want it, go to the gallery later and tell them which one and that you want it at the closing bid. They will sell it to you at that price.

Reply With Quote