A Guide To Auction v Private Sale In The Art Market

The nature of editions ensures that there is rarely just one opportunity to acquire a work, making the auction model’s appeal of “once-in-a-lifetime” bidding far less compelling for both buyers and sellers.

With editions, if the price isn’t right for the buyer at that moment of sale and doesn’t align with the fair market bracket for the work, there is little motivation to keep bidding. A prints and editions auction - whether live or online - lacks the sense of rarity and exclusivity that accompanies a masterpiece that may have remained in private hands for generations and is truly one-of-a-kind. For prints, another opportunity to acquire a work from the same series is always just around the corner.

One can draw parallels between the print market and the designer jewellery or handbags market; the wine and watches market too. The truth is, once bidding surpasses fair market value - unless the edition number holds personal significance - only a reckless buyer would keep pushing. All the more reason to understand the value, scarcity and condition of the print you're looking to bid on.

With major Contemporary art collectors looking for the best return on their investments, it’s no wonder the trends are favouring online platforms offering the same global reach and world-class expertise as leading auction houses, for a fraction of the price backed up with the assurance of the exact return, and the exact price tag.

If you are looking to sell your print exactly when you want, without costs, and with assurance of the end result, then auction houses simply can’t accommodate the request, due to their pre-planned calendar and the overheads of running a traditional and expensive auction house model.

Private Sales Advantages

At MyArtBroker, our objective is to return you more or the same as you would have at auction, as fast as possible on your terms, and without risk. Our seller’s fees are always at 0%. You have the ability to sell whenever you want, but we advise on the very best time to release the value of your work.

As the largest dedicated prints and editions network in the world, and as a specialist online platform, that audience is undiluted and focuses primarily on getting our clients a better deal.

How Does Auction Work?

Auctions work by taking food off both sides of the table: firstly a commission off the seller: to sell, you’ll pay 15% of the hammer price sometimes plus marketing, cataloguing, shipping, insurance and storage fees which you can have waived for higher value works; and to buy, you’ll pay 25% of the hammer price plus VAT on that Buyers Premium. If the artwork sells for well over the high estimate you could also be subject to a 1-2% performance commission. The traditional auction model takes food off both sides of the table.

For a expert insights into how the art auction process actually works, read our comprehensive guide.

If you want to buy at auction:

1. Wait for the auction date and either be there in person, on a pre-arranged call with a specialist, or you can be logged in online at the right time at the right lot (they recommend allowing 60-100 lots per hour). Or you can leave an absentee bid and keep your fingers crossed.
2. Be in the right place, on the right bid, at the right time, it is essential.
3. Remember to have done your research on the price and the work you're bidding on, and know the top bid that you’re willing to pay, (add 30%) and stick to it.

If you want to sell at auction:

1. Choose an auction house and email them, or submit an online form. First off is the task of finding the right auction for your print, this will be in consultation with one of the house’s specialists, who will normally want to see your work in person. They will advise on pricing strategy, and then suggest which sale would be best for it.
2. Once everything is decided between you and the specialist, an administrator will contact you with your paperwork. It will then be up to you to manage and pay for your work to be shipped to the auction house’s storage facility ahead of the auction.
3. The next auction will likely be a few months down the line as auction seasons are static. Even if the auction is soon, consignment deadlines are usually 2 to 3 months prior so be prepared to wait.
4. You may be asked, particularly with a print sale, to wait until the next auction after the one upcoming, especially if the house has a print from the same series already consigned. This is in order for two prints from the same series or portfolio don’t depreciate each other in the same sale.
5. If your work sells at auction, you'll be notified at what amount and you will receive payment a few weeks after the sale completes. Auction houses such as Christie’s also charge a 2% Performance Commission fee in the event that your print sells for above the high estimate you agreed upon consignment.
6. If your work doesn’t sell, you’ll be expected to manage and pay for the safe return of your work, and pay the unsold fees to the auction house – often 1.5% of the average of the high and low estimate they list it at. You will then have anything from two weeks to one month to collect the unsold work from their storage facility before it starts accruing storage fees which can be hefty.

For further insights into how valuations are determined and how external factors influence pricing, read How Auction Houses Determine Art Valuations.

How Do Auction Fees Work?

The seller’s commission at major auction houses, such as Christie’s or Sotheby’s, is 15%. On top of that, you’ll be asked to pay shipping, LDL (loss, damage and liability insurance), as well as a hefty marketing and cataloguing fee. These are negotiable fees when it comes to consignment. In the case of masterworks, an auction house might offer to waive the cost of selling for works of great value. They rarely offer the same waiver, however, for their Prints and Multiples auctions.

The buyer’s commission is 25% on anything you bid up to and including £450,000. You’ll then pay VAT on that commission, and in most cases, you’ll be required to produce identification details prior to bidding.

The Costs & Disadvantages of Selling at Auction

Auction fees can significantly impact both buyers and sellers.

1. Seller’s commission is typically 15% of the hammer price, plus additional costs like marketing, LDL (Loss, Damage, and Liability insurance), and cataloguing fees.
2. Buyer’s premium adds 25% or more to the hammer price, making auction purchases considerably more expensive than they appear at first glance.
3. Performance commission fees - charged when a work sells above its high estimate - can add another 1-2% for the seller.
4. Artist Resale Rights (ARR) applies to secondary market sales of living artists and those who have passed within the last 70 years, adding up to 4% in additional costs.

For a more detailed breakdown of auction fees, refer to our article A Guide to Art Auction Fees.

If you're considering selling your prints online, we strongly recommend consulting with experts before navigating the market alone. Art remains a tangible and deeply personal investment, and while online platforms are valuable tools, they cannot fully replace the expertise required to cater to both emerging collectors and seasoned buyers with substantial inventories.

When you buy or sell with MyArtBroker, our experienced specialists guide you through every step of the process - from sourcing the right artwork or buyer to authentication, price negotiation, and post-sale logistics. With direct access to a network of top-tier art market professionals, we handle the complexities for you, ensuring a seamless transaction from start to finish. For those looking to explore professionals individually, you can browse our available network of industry professionals via The Directory.

Use a secure platform, read the testimonials and speak to experts. Although there is growing trust in the online art trade, platforms such as eBay, Artsy and others, still stumble when it comes to the issue of artist authenticity and value. Many of the markets we work in are sadly riddled with fakes. Buying through a fine art professional should offer absolute assurance and our specialist can help guide you in the right direction, for free as this is advice all collectors should have as a right.

We offer the opportunity to post listings for wanted artworks within a global community of buyers and sellers on the trading floor – ideal for collectors searching for particular works that are more difficult to come by.

With 75% of new online buyers stating that they were driven by value potential more than any other motivator, it’s easy to see why both buyers and sellers are moving away from the traditional auction house, and towards online private sales.