Sotheby's
Sotheby’s is one of the world’s leading auction houses, specializing in the sale of fine art, antiques, jewelry, and collectibles. Founded in 1744, Sotheby’s is renowned for its expertise in auctioning rare and valuable items, with a long history of conducting high-profile sales in various categories, including paintings, sculptures, watches, wine, and luxury goods. The auction house operates globally with physical auction locations in cities such as New York, London, Paris, and Hong Kong, as well as an online platform that allows users to bid on art and collectibles remotely. Sotheby’s provides a secure, transparent environment for buyers and sellers, with a focus on bringing together the most discerning collectors, investors, and enthusiasts. Whether you’re interested in acquiring historical pieces, contemporary art, or rare collectibles, Sotheby’s offers a unique, high-end shopping experience with access to exclusive auctions and a curated collection of items.
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For Buyers: Create an Account: Begin by visiting the Sotheby’s website or downloading the Sotheby’s app from the Google Play Store or Apple App Store. Sign up for an account by entering your personal details, including your name, email address, and shipping information. This account allows you to place bids, track items, and access auction results. Browse Upcoming Auctions: Sotheby’s hosts regular auctions across a wide range of categories, such as fine art, jewelry, watches, wine, and luxury items. Browse the upcoming auctions on their website or app, and filter by category, price range, or auction location. You can also explore the catalogs for detailed descriptions and images of each item in the auction, so you can identify the pieces that interest you. Register to Bid: For each auction, you need to register in advance if you plan to bid on items. This usually involves submitting identification and financial information to verify your ability to purchase high-value items. Sotheby’s provides an easy online registration process for most auctions, and you can also opt to attend live auctions in person at their auction houses. Place a Bid: Once registered, you can place bids during the auction. Sotheby’s allows you to bid in person at their physical locations, online through their website or app, or over the phone by connecting with an auction representative. You can bid on individual items or entire lots (groupings of related items) depending on the auction. The bidding process is competitive, and you may need to place higher bids to secure your desired item. Monitor the Auction: During the auction, you can track the progress of the items you're interested in by watching live streaming or following updates online. The Sotheby’s app provides real-time updates, including the latest bid amounts, time remaining, and other important information. If you are unable to participate in the live auction, you can also set up automatic bidding (also known as absentee bidding), where you specify the maximum amount you’re willing to pay, and the system will bid on your behalf up to that amount. Winning the Auction: If you place the highest bid at the close of the auction, you win the item. Sotheby’s will notify you via email or app notification of your successful bid and provide the payment instructions. You will need to pay for the item (including applicable taxes, commissions, and shipping fees) based on the auction terms. Make the Payment: After winning an auction, you can pay for your item through Sotheby’s secure payment platform. Payment methods typically include bank transfers, credit cards, or other financial instruments depending on your location and the auction terms. Sotheby’s will provide you with an invoice that includes the sale price, buyer’s premium (auction house commission), and additional fees like taxes or shipping costs. Arrange Shipping and Delivery: After payment is processed, you can arrange to have the item shipped to your address. Sotheby’s offers shipping services or can recommend specialized art handling companies for fragile or high-value items. You can track your shipment through the app or website, and Sotheby’s provides insurance coverage during transport for high-value items. Enjoy Your Purchase: Once your item arrives, you can enjoy it as part of your personal collection or investment. Sotheby’s also provides ongoing support, including provenance documentation and certificates of authenticity for many items. For Sellers: Contact Sotheby’s: To sell an item through Sotheby’s, you need to contact them directly to discuss the potential sale. You can do this through their website or by visiting a local auction house. Sotheby’s experts will evaluate your items and provide a valuation, guiding you through the process of preparing your goods for sale. Submit Items for Auction: Once you’ve agreed to list your item, you will need to submit it for authentication and appraisal. Sotheby’s will ensure that the item is correctly described, valued, and cataloged for the auction. Depending on the item, you may need to provide detailed provenance information (e.g., the item’s history and previous ownership). Set the Reserve Price: You will work with Sotheby’s experts to determine a reserve price (the minimum price at which you are willing to sell the item) for your auction lot. Sotheby’s may suggest a reserve based on market demand and estimated value. Once the reserve is set, the item will be listed in an upcoming auction catalog. Auction Day: On the day of the auction, Sotheby’s will handle all the logistics, including marketing your item to potential buyers, managing bids, and facilitating payments. If your item sells, Sotheby’s will deduct their commission and any applicable fees before forwarding your payment. Payment: After the auction, Sotheby’s will pay you the proceeds from your sale, minus commissions, taxes, and other applicable fees. The payment process typically takes a few weeks after the auction ends. Ongoing Relationship: Once you’ve successfully sold an item, Sotheby’s may invite you to continue selling with them in future auctions. They offer personalized services to collectors looking to sell or buy rare and valuable pieces.
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