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Art & Art History vocabulary · Collecting & the Art Market

Auction

Meaning in art & art history, with examples

/ˈɔːkʃən/nounCore term

In art & art history, auction means: A public sale in which artworks or other objects are sold to the person who offers the most money.

In Turkish: müzayede, açık artırma

How it is used

Works are sold at auction, come up for auction or are put up for auction. Auction houses publish catalogues with estimates, and buyers bid in the room, by phone or online. The final price is the hammer price; the buyer usually also pays a buyer's premium.

Example sentences

  1. The painting sold at auction for twice its estimate.

  2. The collection will be put up for auction in London next spring.

Common collocations

  • sell at auction
  • auction house
  • online auction
  • auction record
  • come up for auction
  • lotOne item, or a group of items sold together, offered at an auction and given a number in the catalogue.
  • collectorA person or institution that buys and keeps artworks or other objects, often over many years and around a particular theme.
  • provenanceThe documented history of who has owned an artwork since it was made, used to show that it is genuine and was acquired legally.
  • art dealerA person or company that buys and sells artworks as a business, often running a gallery and representing particular artists.

More terms: Collecting & the Art Market

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