fbpx
tag Sign Up for our Newsletter
Site Logo
Don’t miss out on the art world’s most entertaining newsletter - every Friday. And career news every Tuesday.
Become a members
art slang uncovered: auction estimate
What is the purpose of estimates at art auctions?
Arty-Pedia 26 Jan 2018
Auction Estimate
[ˈɔːkʃ(ə)nˈɛstɪmeɪt]


What is the purpose of estimates at art auctions? Just in cased you haven’t noticed: the price range that you find under every lot aka piece listed for an auction.Well, basically those estimates are used to give potential buyers a basic range of the value of each work. Kind of a compass. if on the lower end, they might trigger clients interest as they feel they might hunt for a bargain, if on the upper end, it might provide a feeling of trust to spend a higher amount, yet the line is thin to not seem overrated. Think of shopping: you love getting your hands on a sought after designer piece for a good price but if a vintage dress is 10 bucks, you might also not feel really confident in going for it, while you are also out of the game at a price tag of 10k.
auction_THEARTGORGEOUS

Image via pinterest

You May Also Like

The Creative Girl's Rules Of Work
The Creative Girl's Rules Of Work
What to See & Do Around Frieze LA
What to See & Do Around Frieze LA
Hellos and Goodbyes
Hellos and Goodbyes
Weekly Wrap Up News
Weekly Wrap Up News
NFT Happy Hour
NFT Happy Hour
Iole Pellion di Persano on Her Video Art Club and the Fischli & Weiss Kitty
Iole Pellion di Persano on Her Video Art Club and the Fischli & Weiss Kitty

LATEST JOBS

Digital and Marketing
Sarabande Foundation - London, UK
Freelance Designer
Klick - Paris, Île-de-France, France
Manager, Arts & Social Practice
Obama Foundation - Chicago, USA
Gallery Intern
C. Stuart and Jane H. Hunt Art Gallery - Buffalo, NY, USA
ALL 57 JOBS