Auctioning Tribal Art: Advantages For Buyers And Sellers

By Author: robin williams
Total Articles: 1
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For sellers of tribal artifacts, competitive bidding leads to the highest net return on the assets. Without a pre-set price or a “cap,” the bidders are free to push the prices up to the true market value. Buyers certainly come prepared to buy, whether physically at the auction house or via the internet. Competition between buyers keeps the action quick and produces a “do or die” atmosphere which can benefit the seller. Procrastination is not an option – the piece will belong to a competitor in the next 60 seconds.When another person desires the same item, it immediately establishes a real value in that item; much different than a painting or artifact hanging on the wall of an art gallery.
In a gallery – which has its own positives – items can remain unsold for extended periods of time. Quick disposal of the items at auction reduces long-term storage and carrying costs. If the item sells at the auction, which happens for the vast majority of pieces, the seller knows exactly when the sale will occur – the day (or night) of the auction. Importantly, many auctioneers permit the seller to provide input ...
... of the pricing, terms, and conditions of the sale, including reserve (minimum) prices when warranted. Auctions remove the “price negotiation” process, with each side going back and forth – and possibly losing interest in making a deal. At auction, the piece is sold when the hammer hits the table.
Buyers at auction have a unique set of advantages as well, especially when compared to standard retail purchases. Products typically sell at fair market value through the competitive bidding that occurs during an auction. The amount a willing buyer agrees to pay a willing seller is by definition the “value” of that item. The knowledge that other potential purchasers are interested in the same item illustrates clearly the value – the proper and fair price – for that piece. Importantly, the buyer at auction knows that the seller is fully committed to selling, since he or she has placed that lot up for auction. In private transactions, the seller may be merely testing the market, or otherwise “playing games” with the potential purchasers. At auction, the buyer knows that a successful bid will result in the purchase of the desired item. Moreover, the ultimate buyer gets to determine the final price, using their own knowledge and judgment. At each price increment, the bidder makes a decision to bid -- if the price is reasonable – or not to bid – if the highest, reasonable price has been reached or exceeded. The fact that others are simultaneously bidding on an item guarantees that the price is “fair” and “market value.”
In a private gallery transaction, some purchasers might have special deals or other benefits not available to other interested parties. At auction, every buyer knows that they are competing on an equal and level playing field, and receiving the same terms as everyone else in the room.
For both buyers and sellers, auctions offer real and valuable advantages: quick sales, actual market pricing, and a time-tested method for transferring property. Tribal Art Hunter offers auction services and consulting to both sellers and buyers, guiding their clients through the process. An individual considering placing items up for auction should weigh their options and contact an expert as needed.
Tribal Art Hunter consults and sells in the area of primitive art for collectors, art dealers, and interior designers. The experts at Tribal Art Hunter work closely with clients in art purchasing and negotiation, documentation, valuation, sales, appraisal, liquidation, and exhibition.
Tribal Art Hunter can be contacted at 954-683-4217 and on the web at www.tribalarthunter.com