How do I know what an item is worth?
Valuation is by its nature subjective. To provide guidance, artnet has supplied related information, when available, on the lot detail page, including the artist's past sales results and market trends graph.
How do I bid?
Bidding is secure and easy. On the bidding page, click the “Bid Now” button. This will open a form into which you can enter your bid amount. Once you confirm your bid, your bid will be placed. In order to bid you must first
register as a buyer.
How does the SmartBid service work?When you bid on an auction, you are asked to provide your maximum bid. This is the amount that you are willing to pay for the lot. The artnet SmartBid service automatically bids on your behalf, as needed, up to your maximum bid. This includes bidding on your behalf to meet the reserve price when placing the first bid on an auction lot. The SmartBid service will never raise your bid above the reserve price unless there are competing bids on the lot. Please find the SmartBid service bidding increments below:
| SMARTBID BIDDING INCREMENTS |
| Minimum Value | Maximum Value | Bid Increment |
| $1 | $999 | $50 |
| $1,000 | $1,999 | $100 |
| $2,000 | $4,999 | $200 |
| $5,000 | $11,999 | $500 |
| $12,000 | $15,499 | $1,000 |
| $15,500 | $19,999 | $2,500 |
| $20,000 | $99,999 | $5,000 |
| $100,000 | $249,999 | $10,000 |
| $250,000 | $499,999 | $20,000 |
| $500,000 | $999,999 | $50,000 |
| $1,000,000 | above $1,000,000 | $100,000 |
How does reserve work with the artnet SmartBid service?
If there are no competing bids, the artnet SmartBid service will bid on your behalf up to the reserve price of a lot upon bid placement if your bid amount at least meets the reserve.
Can I cancel or retract my bid?
All bids are binding and a bid cannot be cancelled or retracted. Mistakes can occur in which case you must contact artnet Auctions Client Services by
e-mail or by phone at +1 877-388-3256 in the US or +49 30 2091 7850 in Germany.
Reasons for possible bid retraction or cancellation include entering the incorrect bid amount (For example: $10,000 instead of $1,000) or the lot’s description changed significantly after placing your bid.
How do I view the auctions I'm currently bidding on? Go to your
My Auctions page, click “All Buying”, then “Active Bids”.
How do I add an item to My Favorites?
On the bidding page, click “Add to My Favorites.” To see the lots you are watching, go to your
My Favorites page.
I have a question about an auction lot, what do I do?
Our specialists are available to answer your questions. For more information about a particular lot, simply click “Ask Specialist a Question” on the bidding page.
What is a bid alert?Bid alerts are generated automatically and inform you when you've been outbid or won an auction. To view your alerts, go to your
My Auctions page, then “Alerts”.
How do I see what lots I did and didn't win? Go to your
My Auctions page and, then “Items Won” Or “Items Not Won”.
What are the shipping policies?
Every seller is required to post detailed shipping information for his or her lots. This includes the location from which the item will ship. Typically, buyers are responsible for paying all shipping and insurance costs, which in turn may depend on the distance the artwork will travel and the final hammer price/final bid amount.
Why did the auction end after its original close time?
An auction is extended when a bid is made 10 minutes before the auction ends. The auction closing will be postponed for 10 minutes and may be the case several times until a one minute period has lapsed without bidding. When an auction is extended, bidders are notified via e-mail.
As the winning bidder, how can I pay for an item I've won?
After the close of an auction, you will receive an automated e-mail from
artnetauctions@artnet.com if you are the winning bidder. Within that e-mail, there will be a link to our Messaging Center. After clicking the link, you will be directed back to artnet Auctions and will be prompted to log in to your account. A message box will be open for you to communicate payment and shipping arrangements to the seller. The seller will receive a similar e-mail at the close of the auction and may contact you as well.
Typically, you will inform the seller of your location so that he or she can provide you with a shipping quote and invoice. Once you remit payment in a method accepted by the seller, he or she will ship the piece directly to you.
Additionally, each seller has specific payment options for his or her lots. For further details, please communicate with the seller directly.
Is there a fee to buy?
For buyers, artnet charges each winning buyer a commission payable to artnet known as buyer’s premium. Currently, a 15% buyer’s premium is charged on all winning transactions – this premium is based on the winning bid amount (e.g., if the winning bid was $1,000, the buyer’s premium will be $150, payable to artnet). For more information regarding the buyer’s premium, please see below.
What is the buyer's premium? How am I charged for this? artnet charges each winning buyer a commission payable to artnet known as buyer's premium.
Currently, a 15% buyer’s premium is charged on all winning transactions – this premium is based on the winning bid amount (e.g., if the winning bid was $1,000, the buyer’s premium will be $150, payable to artnet). Once the auction closes where you are the winning bidder – your credit card on file with artnet will be charged the buyer's premium, which is currently 15%
If the charges are declined, artnet will contact you via e-mail. Please update your e-mail address should it change, as it is the primary communication venue between you and the auctions platform. Should you have any questions,
contact us via e-mail or give us a call at +1 877-388-3256 in the US or +49 (0) 30 2091 7850 in Germany.
artnet Auctions is in US dollars ($), how do I convert currencies?Currently, all items must be listed in US dollars ($). artnet will calculate and display the corresponding amount in Euros (€) based on the previous business day's rates as reported on
http://oanda.com/ Simply scroll over the euro symbol next to a bid amount.