1 Register with Auction house, whether bidding online or by phone
2 Identify Buyer’s Fee. 27% fee means if you bid $1000, you are committing to $1270
3 Scrutinize auction description especially for artwork’s condition. If condition is unlisted, request condition of your lot in writing.
4 Research auction history of artist’s work selling at auction.
5 Check out gallery prices for artist’s work.
6 Is there a reserve ? Typical reserves are 75-80% of the low estimate. Lower priced artworks may not have a reserve.
7 Find out approximate time for your lot to be live. Auction houses can generally gauge how many lots per hour are sold.
8 Phone bidding is a preferred option, if you are especially determined to make it yours.
9 Additional costs include packing and shipping as well as sales tax (in many cases, varies by state)
Corinne Cain of SavvyCollector.com