Selling art
How to Sell Your Artwork at Auction
Auction is one of the most transparent ways to sell an artwork: the price is set in public by competing buyers, and results are published. It is not always the right route, and the process has costs and timelines that sellers should understand before they consign. This guide walks through each step, from choosing a house to receiving payment.
By Veriso Research Team · Published
Is auction the right route?
Auction works best for works with an established market: artists who sell regularly at auction, with enough buyers to create competition. It gives wide exposure, a public price, and a sale within a predictable timetable. The trade-offs are fees, a wait of several weeks or months between consignment and sale, and the risk that the work does not sell and has been publicly “burned” — seen to fail, which can make it harder to sell soon afterwards.
Alternatives include selling privately through a dealer or gallery, selling directly to a collector, consigning to a gallery on commission, or using online marketplaces. For works of modest value, the costs of a major auction may outweigh the benefits, and a regional auction house or online sale may be better.
Research the work before approaching auction houses
The more you know, the better your conversations with specialists will be. Gather everything that documents the work: purchase receipts, previous valuations, letters, exhibition catalogues, and photographs of labels and inscriptions. Measure it, photograph the front, back, signature, and any damage, and write down what you know about its history.
Look up recent auction results for the artist to understand the likely range and which houses have sold similar works successfully. A structured report, such as Veriso's, can give an indicative value and identify the kind of sale and specialist department that fits the work.
Choose the right auction house
The best house for your work is the one whose buyers want it. International houses attract global bidders for important works; regional houses often achieve strong results for local artists with a loyal following; specialist houses focus on particular categories such as prints, photographs, or decorative arts. Check where comparable works by the artist have sold well, and prefer houses that hold regular sales in the relevant category.
It is normal to approach several houses. Most will give a free auction estimate from good photographs and basic information, and some will visit for larger consignments. Compare not only the estimates, but the proposed sale, the fees, the marketing, and how well the specialist knows the artist.
Estimates and reserves
The auction estimate is the house's view of the likely hammer price, expressed as a low and a high figure. Estimates are partly a marketing tool: an attractive, slightly conservative estimate can bring in more bidders and lead to a higher result, while an ambitious estimate can deter them. Be wary of choosing a house simply because it offered the highest estimate.
The reserve is the confidential minimum price below which the work will not be sold. It is agreed between you and the house and is usually set at or below the low estimate. A sensible reserve protects you from selling too cheaply without making it likely the work will fail to sell.
Understand the costs of selling
Auction houses earn money from both sides of a sale. The buyer pays a buyer's premium on top of the hammer price. The seller pays a seller's commission, deducted from the hammer price, which is often negotiable for valuable consignments. Other charges may include photography, insurance while the work is in the house's care, shipping, catalogue illustration, and sometimes a fee if the work does not sell.
In some countries, a resale royalty (droit de suite) is payable to the artist or their estate when works by living artists, or artists who died within the last seventy years, are resold through the market above a threshold. Ask for a written breakdown of every charge and calculate your expected net proceeds at the low estimate before you consign.
- Seller's commission, as a percentage of the hammer price
- Insurance and photography or catalogue charges
- Shipping and handling to and from the saleroom
- Unsold fee, if the work does not reach its reserve
- Resale royalty, where applicable
Read the consignment agreement
The consignment agreement sets out the terms of the sale: the estimate, the reserve, commission and fees, the sale in which the work will be offered, insurance, and what happens if the work is unsold or withdrawn. It also sets out the warranties you give as seller, typically that you own the work and have the right to sell it, free of claims.
Read it carefully and ask about anything you do not understand, including withdrawal charges and the period after the sale during which a buyer can return a work that proves to be misattributed or a forgery.
The sale itself
Before the sale, the work is catalogued, photographed, and exhibited for viewing, and the catalogue is published online. Buyers may request condition reports. On the day, bidding takes place in the room, by telephone, by commission bid left in advance, and online. If bidding does not reach the reserve, the work is bought in, meaning unsold.
If the work is unsold, the house may offer to sell it privately afterwards at or near the reserve, or re-offer it in a later sale with a lower estimate. Discuss these options before the sale so you know your choices.
Tips for a better result
Small decisions can make a real difference to the final price. Provide the specialist with every document and photograph you have, because a well-researched catalogue entry attracts more confident bidders. Do not clean or restore the work before consigning unless the specialist recommends it. Choose the sale that brings the right buyers together, even if it means waiting a few months, and keep the reserve realistic.
Finally, avoid offering the same work in several places at once, or shopping it widely to dealers before an auction: a work that has been seen by many buyers without selling can lose its freshness, and freshness to the market is one of the most valuable qualities an artwork can have.
After the sale: payment and paperwork
Payment to the seller is usually made several weeks after the sale, once the buyer has paid in full; the consignment agreement states the timeline. You will receive a settlement statement showing the hammer price and every deduction. Keep it with your records, because the sale may have tax consequences depending on where you live and how long you owned the work.
Common questions
Frequently asked questions
How long does it take to sell art at auction?
Typically several weeks to a few months from consignment to sale, depending on the auction calendar, plus several weeks after the sale for payment. Online sales can be faster.
Can I set a minimum price?
Yes. The reserve is a confidential minimum agreed with the auction house. If bidding does not reach it, the work is not sold.
Are auction estimates free?
Most auction houses provide free auction estimates from photographs for works they might offer. Formal written appraisals for insurance or tax are a separate, usually paid, service.
What happens if my artwork does not sell?
It is bought in and returned to you, or held for a private sale or later auction by agreement. Some houses charge an unsold fee, so check the consignment agreement.
Put the clues together
Analyse your artwork with Veriso
Upload clear photographs for an evidence-led attribution, market estimate, and guidance on what to do next.
Start an artwork analysisRelated guides
The Veriso research letter
New identification guides, once a month
Practical research techniques, market notes and new guides for collectors. No spam, one email a month at most.
We only use your email address to send this newsletter. Unsubscribe at any time. See our privacy policy.