To some, art auctions seem like senseless gambling. To others, it’s an exciting game resulting in an opportunity to buy original art. While the danger of being overcharged is always there, unexpected surprises can be positive too. Take, for instance, those people who discover that the painting they’ve had on their wall for forty years just so happens to be worth millions of dollars! Before attending an auction, there are a couple things to consider, such as categories and bidding tips.

One category is the estate sale. You can often find great bargains here since purchases are made directly and most of the items from a deceased person’s estate must go. Recently, a woman in Canada found out that the painting she had selected from her grandmother’s estate sale, when she was ten years old, was actually a $300,000 original painting! Now you see why they sometimes refer to art as “treasure.”

Another category is consignment sales. These art auctions have a fixed minimum price and simply will not sell if you have a problem with it. It’s not as good a place to wheel and deal as the estate sale.

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