Why You Should Buy Art, Furniture & Decorations at an Auction
Why You Should Buy Art, Furniture & Decorations at an Auction
When it comes to buying art, one of the best places to do so is at an auction. Yes, auctions are more ubiquitous than you think. And for the most part, they are just like you see in the movies! There isn’t quite as much random drama or revelations, but there are still plenty of reasons why you should consider buying your next piece of art, furniture, a rug, or a lamp at an auction.
Today, we’re going to run over some of the biggest reasons why your next purchase should be at an auction.
It’s a Great Deal!
Contrary to public opinion the value of items bought at auction is typically 50 - 80% less than you would pay in a retail environment. A gallery or store can set its own prices but at auction, the bidders set the price. Auction specialists will recommend a low - high estimate but in the end, it’s the bidders that decide how much they are willing to pay. Remember when you bid you are in control, and you have the final say on what something is worth.
It’s Environmentally Friendly
If the auction is a live in-person auction, you get bonus points if you bike to the auction house, use your metal straw to drink out of a reusable cup, and then purchase some carbon offsets during a quick break.
In all seriousness, buying art at an auction is good for the environment. Why? Because you’re not buying anything new, per se. You’re giving the furniture, sculptures, or Paintings a second home instead of buying something that’s never been used before. At Gray’s, we call ourselves ‘ an adoption agency for beautiful things’.
Yes, that does make a fine art & antique auction sound like a high-end second-hand store but with more bidding and gavel-banging, but you are making sure that items get reused instead of purchasing something that’s brand new.
You’re Supporting Local Business
The COVID pandemic has hit local businesses hard. In fact, a new report from Yelp shows that 60% of businesses that closed during the pandemic haven’t opened again.
The average person wants to support small businesses when they can and an auction house is no different. There are some national auction houses and galleries, but the vast majority of those are locally owned and operated.
So when you attend a fine art and antique auction and buy something, you are helping support a local business and their employees.
Auctions Help Support More Than Just the Local Economy
Going along the same line of helping out local businesses, by frequenting auctions and purchasing your next work of art there, you’re helping out a whole chain of commerce from the consignor all the way through to you, the ultimate buyer.
Auctions were historically one of the first forms of commerce and indeed one of the first drivers of transportation for business. In fact, they are still an important provider of items that need to be transported locally and around the world.
Since we haven’t perfected the science of teleportation, the transportation industry still plays a large role in helping the auction business function.
Plus, auctions can be a great place to meet and meet up with other people. After all, can you really make genius comments about art without a glass of wine in your hand and a delicious hors d'oeuvre in the other? Even if the auction is online-only you can still have fun participating. Find the auctions which stream the action and allow live bidding. It’s great entertainment.
Auctions are Fun
At the end of the day, auctions are enjoyable activities. Not only will you hopefully find something you’re looking for, but you’re bound to have a good time.
When the Covid-19 pandemic is under control auction houses will open up for live bidding again and you can come to an auction in person. Until then, you can learn about art, discover new pieces, and see how the auction itself works online. Who knows? You may be in the virtual audience to a bidding war.
Conclusion
As you can see, there are a number of reasons why you should be purchasing art, furniture, decorations, and jewelry at an auction. You can get a great deal, help out local businesses, be green and help the planet, and have an enjoyable afternoon or evening.
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