How A Silent Auction Works
All original artwork, aside from commissioned artwork, is sold through silent auction. Typically, there are two segments of an art auction.
First Segment : Warm Auction
First is the warm auction segment. The auctioneer collects bids and offers from patrons to meet the reserve price. This segment begins as soon as information about the artwork is available. Patrons subscribed to the free Collector’s Catalog and members of the Collector’s Club may bid on artworks in progress. You may also bid early by visiting the studio gallery. When the artwork is complete and photographed for the auction page, the auctioneer begins public outreach. The reserve is unpublished, though you may inquire in the notes section of your bid or by calling (650) 746-4ART. Once the reserve is met, the auctioneer sets the duration and the second segment begins.
Second Segment : Hot Auction Or Direct Acquisition
The second segment of a silent auction is either a hot auction or a direct acquisition. If the bid / offer is 20% over the reserve price on an artwork with under 5 bidders, the auction closes for direct acquisition. This is a way of saying “thank you” to those who bid early and high, and for supporting the arts.
In a hot silent auction, the auctioneer publishes a minimum bid on the artwork’s page and all bidders are notified. The auctioneer will privately indicate the current high bidder. Hot auctions have a duration of 7 – 14 rounds. Each participant may bid once per round. Each round lasts no longer than one day. So current bidders have the best chance of winning, the minimum bid is updated once daily. Bidders are notified of auction activity via their choice method of contact (call, text, or email). The auctioneer continues public outreach continues until the silent auction closes.
The auctioneer evaluates final bids when the set duration ends. The winner of the artwork is notified within 24 hours due to consideration of time zones and preferred contact method.
*Special Case Segment : Private Auction
If two or more bidders “insist” on winning by requesting a bid percentage increase with no ceiling price, or if a bidding tie occurs in the final round, the silent auction becomes a private art auction. Only qualifying bidders may participate. The auction moderator will coordinate between private bidders to determine the winner. Some sort of celebration will follow so the private auction ends in good spirits regardless of who wins.
How You Can Bid
You may bid or make an offer on original artworks via:
- telephone (650) 746-4ART
- visiting the studio gallery San Francisco (https://juliettecoveart.setmore.com).
Receiving Artwork After Winning An Auction
The artist congratulates the auction winner and the auctioneer presents an invoice. The art handler prepares the artwork for delivery while payment clears. The winning bidders location and availability determines the best method of delivery. Someone must be available to receive the artwork. If an artwork requires capturing by a fine art reproduction specialist, this may take 3-5 business days.
You will receive the artwork in its best condition. A custom made certificate of authenticity accompanies each original artwork. The artist signs and completes all information by hand in archival ink and embosses it with an official seal. A folder of information specific to each artwork is prepared. It includes details on how to care for the artwork, the materials used in its creation, and methods used in the priming / foundation layers and the the protective outer layers. In addition, information about the artist and any articles referencing the artwork are included to help support authenticity.
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