How do art auctions work?

Forget elitism - we bring you a glossary that demystifies the art auction, opening a door on a whole other world of collecting.
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Image: Source Christie’s

Art Auctions are big business. On any year, international headlines report record sales of “trophy consignments”, those multi-million dollar sales that send jaws dropping and the mind reeling. It is not surprising that many of us box the art auction as a blood sport for the rich, wondering whether this world has any reality once you move beyond that top tier?

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Gina Fairley is ArtsHub's Senior Contributor, after 12 years in the role as National Visual Arts Editor. She has worked for extended periods in America and Southeast Asia, as gallerist, arts administrator and regional contributing editor for a number of magazines, including Hong Kong based Asian Art News and World Sculpture News. She is an Art Tour leader for the AGNSW Members, and lectures regularly on the state of the arts. She is based in Mittagong, regional NSW. Instagram: fairleygina