Ten Insider Tips for a First-Time Art Auction Buyer

pArt can seem a tad bit overwhelming for someone who is new to it. Subsequently, it may even be intimidating for a novice buying art at an auction. To help a new art-auction buyer sail through the buying process, Luxpresso asked Deepanjana Klein, senior specialist and International Head of Department for South Asian Modern + Contemporary Art, Christie's, to chart out this guide. Read on.andnbsp;/p pandnbsp;/p pNow, it is true that one must buy art for the love of it, and, in Kleinandrsquo;s words, andldquo;One doesnandrsquo;t have to follow anything.andrdquo; With the art market so mature and buyers paying such a high price for works, it is important that one must know what one is buying. Highlighting the importance of asking for details like a condition report, a criterion that has also made it to her list, Klein adds, andldquo;One needs to know what the condition of the work is and whether restoration has been done. When people come to us to buy a work it is our duty to show them the condition of the work. Ten years later when one tries to sell the work a condition report will be asked for.andrdquo;/p pandnbsp;/p pAlso, someone comes in for the first time they may not know that a buyer has to pay buyerandrsquo;s premium, an addition sum amounting to 20 to 25 per cent over the hammer price. A buyer may also not know that he or she has to pay for shipping, or that a work doesnandrsquo;t always come with the frame. Drawn keeping such factors in mind, here are ten insider tips to help you buy at your first art auction. andnbsp;/p pandnbsp;/p pemWorks accompanying the tips are chosen from the lot to be auctioned at the 4th Christieandrsquo;s Indian Art Sale to be held on 18th December 2016, at the Taj Mahal Palace Hotel in Mumbai./em/p pandnbsp;/p pspan style="font-style: italic;"Image via Christie's/span/p pandnbsp;/p

from Luxpresso http://www.luxpresso.com/photogallery-lifestyle/ten-insider-tips-for-a-first-time-art-auction-buyer/16121729
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