Art sale
From ArticleWorld
An art sale is selling artworks by auction or other means. There have been many types of art sales down through history, as recorded by various writers. Art auctions can be very exciting, adding to the potential earning value of the painting. This type of sale can be quite a contest. There are special auction houses that sell art by auction.
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Early art sales and auctions
The 'art sale' started in England in the late 1600's. We know about these sales because they were recorded by writers of the time. At first, paintings were pre-priced, and an invitation was issued for specific buyers to view the paintings. Paintings sold slowly this way, so they were next sold in auctions. Auctions invite excitement and competition, which usually results in higher profits for both the seller and the auctioneer. One important art auction, probably the first, was held in Covent Garden, on 8 March 1741. Nearly all the leading men of the day, attended. The prices for art at auction grew at each auction, as did the popularity of the auction as an event. Some of these artworks ended up in private collections; others were eventually donated to museums.
Mid-19th century art sales
During the first half of the 19th century, collectors gradually were men who had made large fortunes in various English industries. They primarily collected the modern artists of their time. These patrons purchased either direct from the artist or from exhibitions selling pictures in oils and watercolors. These paintings were usually very expensive, and usually made for investment purposes. Pictures by modern sold at almost exorbitant prices in the1870's. There was still a small band of collector who collected the Old Masters. Many very fine artworks of the Old Masters found eager collectors, who paid high prices.
Late 19th century art sales
Since the last quarter of the 19th century the chief feature in art sales has been the demand portraits, by Joshua Reynolds and his fellow portrait painters. "Specialism" is a development in art collecting in the middle of the 19th century. Drawings and the appreciation of portraits painted like the masters of the early English accounted for a great number of art sales during this period. Demand for the finest works of art is still much greater than the supply, creating high prices for collectible pieces.
Modern art sales
Modern art of the twentieth century is in great demand at art auctions. The works of Van Gogh, for instance, have been sold to collectors in Japan recently for millions of dollars. On line auctions and auction where a representative places bids over the phone are commonplace these days. New artists appear routinely. The challenge is to choose the right artist for investment purposes, or for personal pleasure.