I’ve had a notifier thingie going on since our trip to Italy last April for when a certain artist’s work comes up for sale, and yesterday one that I am actually interested in came up in my notifications. It is going on auction in a few days. This is an artist whose better-known works have gone for 5 to 6 figures; this one they are estimating at 2-3,000 euros. I could actually afford that, although it might give my fund manager a small cardial infarction.
The auction is being held in Rome, so I suppose I would be attending by telephone? Do they still do that? Although it also looks like I can bid online, but I don’t know how that would work in real time - there appears to be a link to listen to the auction, but I don’t know if it would be in English. Payment is by wire transfer, which I assume my credit union could handle. Provenance seems OK. The selling house is called “invaluable.” The work is tempera on paper applied on panel, rather small, and framed.
They are charging a buyer’s premium of 29%, which seems ridiculously high. Anyone know if that is in the ballpark of normal for art auctions? Other types of auctions seem to max out at 15%, based on what I could find on Google. I presume I would also be paying for shipping and insurance.