An auction house has experts that can determine a work of art’s value. An auction house must follow certain rules in order to sell an item for the highest possible price. Its experts also use the provenance of an item to establish its authenticity and value. Provenance can be a variety of things, including a certificate of authenticity, sale documents, exhibition paperwork, conservation history, and more. The value of an auctioned item depends on its provenance.
Grisebach takes great care in preparing the auction catalogue. The catalogue reflects the most recent scholarly knowledge and information available up to the date of auction. It also takes into account any information provided by the Consignor. If a potential buyer is serious about purchasing an item, he can request a condition report and expert appraisals.
Some works of art can be acquired through post-auction sales. This type of auction will also be considered a part of the auction. Interested parties can place a bid on the auction works by submitting a bid in person, by phone, in writing, or over the internet. Bidders must agree to the Terms and Conditions of Sale. If Grisebach accepts the bid within three weeks, a sale and purchase agreement will be concluded.
If a buyer does not meet the requirements of the auction, he can withdraw his bid and ask for a refund of the purchase price. He is able to do so as long as the work was not knocked down.