Demystifying Drawings #2
HOW TO:Buy at auction
LARA L’VOV BASIROV, THIS WEEK’S AUCTION AGONY AUNT AND HEAD OF SALE FOR THE OLD MASTER, BRITISH & EUROPEAN PICTURES DEPARTMENT AT ROSEBERYS, PROVIDES A CRASH COURSE.
As a newcomer to the worlds of drawings and auctions, there are many questions to ask and seemingly innumerable obstacles to navigate. Fortunately, thanks to online platforms, buying drawings at auction is actually no harder than using a site like Ebay.
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Browse an online platform or local showroom, Invaluable, The Saleroom and Drouot centralise many auction items. Filter by date, category, price, period or medium.
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If the auction is local, see the item in person. Viewing days are listed on the auctioneer’s website. If you cannot view the item in person contact the auctioneer for more images and request a “condition report”.
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Create an account with your chosen online platform or with the auctioneers (this option saves a 3-5% platform fee). Register for the specific auction that includes your item. ID and an address verification document are usually required.
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Bid online, in person, via the phone or leave a maximum-bid. Calls must be pre-arranged. Be mindful of Buyers’ Premium which at present generally falls anywhere between 25% and 28% + VAT on top of hammer prices for UK auction houses.
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The online platform or auctioneer will send you an invoice which can be paid digitally. They may also recommend local shippers who can deliver the item if you cannot collect it yourself. Buying locally saves on shipping fees which can range greatly depending on the size and location of the auction house.
Why a drawing and not a print or painting?
Drawings present an immediacy that is seldom found in prints and paintings. They are windows into an artist’s thought processes and working methods, reminders of their invention and humanity. Furthermore, unlike paintings and prints, drawings are often wholly unique, and fine examples can be picked up for low prices in today’s market.
Where to start?
A good place to start is with your own taste. Find what periods and styles of drawing appeal to you most by visiting museums and exhibitions. Focus on the drawings which speak to you and spend time with them rather than flitting. Take your curiosity further and explore books, Instagram accounts, exhibition catalogues and digital museum collections. With a firmer idea of what you like, it’s time to tackle the market.
What’s in a name?
Purchasing an autograph work by an Old Master is always satisfying. These drawings tend to be pricier than drawings where the artist is unknown, or where the work is “attributed to” a certain artist. Anonymity should not be a deterrent, however. In fact, these anonymous works can often be just as compelling and, if you like detective work, the hunt for an attribution can be engrossing.
How do I know what a fair price is?
The bracketed pre-auction estimate is usually a sound indicator of a fair price. You may hold certain drawings in higher esteem however, or perhaps they carry personal significance. Allow a combination of these factors to guide your evaluation. Art market data can also help (seek comparisons on Artnet or MutualArt). Remember though, once a drawing has gone, it has gone, and might not come up on the market for years or even generations.
What pitfalls should I look out for?
Beware the online third-party bidding sites which charge an additional buyers’ commission. Factor in any additional costs that might apply such as shipping, restoration and framing. Accidentally purchasing a “Fake” should not be an issue. A reputable auction house will carry out necessary due diligence on every lot and if something comes to light post purchase the auction house will take back the work and offer a full refund.
Do I need to dress up to bid in person?
By all means, put on your gladdest rags and bid away. For better or worse however, dress codes have relaxed since the days of Roger Moore’s “Octopussy”. Although auction houses may seem to be intimidating arenas the staff are generally friendly and accommodating.
Any closing words of wisdom?
Do your research before the day of the auction. View the drawings in the flesh, take notes and scrutinise condition. Discuss the drawing with the auction house’s specialists. Trust your gut and if a particular lot really appeals to you (having considered it fully), then go for it!
“The bitterness of poor quality remains long after the sweetness of low price is forgotten.”
The catalogue for Roseberys’ upcoming auction of Old Master, British and European Pictures on 22nd November, which includes a number of drawings, is available to view here.
