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Overview

What does it take to buy and sell a work of art successfully at auction? Buying and Selling Art at Auction offers an insider’s perspective on the thrilling, fast-paced world of art auctions, taking you behind the scenes to learn from top professionals at one of the world’s premier auction houses. The course will examine questions such as: Who are the key players in an auction house, and what do they do? What are the different factors that determine the price of art, and how are values assigned? How has the internet changed the role of auctions in today’s art market? By the end of the course, students will master concepts such as commissions, reserves, guarantees, and irrevocable bids. Perfect for aspiring collectors, dealers, or the curious, this course will enable participants to approach art auctions with the knowledge and confidence necessary to succeed.

This Premier Online Course features weekly recorded lectures and faculty-guided discussion boards to maximize flexibility and deliver an engaging and interactive digital experience.

Students will learn:

  • To evaluate the opportunities, challenges, and risks posed by buying and selling artwork at auction.
  • To analyze and evaluate published auction results.
  • To identify and describe how values are ascribed and prices are determined for works of art sold at auction.
  • To recognize the legal, financial and technical aspects involved in buying and selling works of art at auction.
  • To assess the changes introduced by e-commerce and evaluate how digital platforms are transforming the auction business.
The Details
  • Course Dates & Fees

    Course Dates & Fees

    April 7 - May 4, 2021
    $1,115  ($1,000 if registered by March 2, 2021)
    Tuition includes 4 weeks of instructor guidance and an additional 90 days to review the course at your leisure.
    We offer this online course throughout the year with sessions starting approximately every 4 months. Contact us for more information.
  • Getting Started & How It Works

    Getting Started & How It Works

    SIA Online Community, our learning and networking space, opens two weeks before the course begins. This space provides an opportunity to familiarize yourself with the learning platform and introduce yourself to fellow students from around the world.
    Visit our How It Works page to learn more about the online learning experience.
  • Sample Topics

    Sample Topics

    Week 1: An Overview of Art Auctions

    • A brief history of art auctions

    • The key terminology and concepts associated with art auctions

    • Understanding different ways of bidding

    • Global and regional markets

    • Who’s who in the saleroom: the auctioneer

    • Auction House interview


    Week 2: Inside the Auction House

    • Selling the sale: tips for buyers and sellers

    • Attracting consignments: sourcing and the famous 3 D’s

    • Pricing: authenticity and other factors that determine price

    • Understanding reserves

    • Inside the catalogue

    • At the preview

    • Who’s who behind the scenes: the specialist

    • Auction House interview


    Week 3: Understanding the Art of the Sale

    • Buyer premiums and vendor commissions

    • Guarantees, irrevocable bids, & hammer share

    • Art as an asset class: loans

    • Who’s who with the contracts: the art lawyer

    • Auction House interview


    Week 4:  The Internet Revolution

    • Benefits and challenges of the online revolution: what is the future?

    • Different models: buying online at traditional sales

    • New companies: buying online only

    • New technologies: blockchain

    • Who’s who online: the digital market

    • Auction House interview


     
  • Faculty

    Faculty

    Maria Sancho-ArroyoAdjunct Faculty, MA Art Business & Online
    Maria brings over 25 years of international experience in the art world, first at museums – National Museum of Catalan Art, MNAC, in Barcelona and at the Louvre in Paris- then at Sotheby’s Auction House in London. During her time at Sotheby’s, she gained experience in all aspects of the auction world with a focus on business and client development. She has participated in numerous auctions and worked closely with all Sotheby’s European offices. Maria has given lectures on art market trends at the London Sotheby’s Institute and is a regular contributor to the “Giornale dell’Arte”, the Italian edition of the Art Newspaper. She is involved with charitable organizations and has contributed to the development of the Palazzo Strozzi foundation in Florence (Italy) by organizing fundraising events in London. Maria is fluent in Spanish, Italian, French and English and is currently teaching the Auction Business course within the MA in Art Business.
  • Certificate Of Completion

    Certificate Of Completion

    For each course successfully completed, you receive a verified Certificate of Completion from Sotheby’s Institute of Art.
    Our digital certificates allow you to share new skills with various social media platforms, including LinkedIn. Successful completion is defined by each instructor in the course syllabus and consists, at the least, of regular, thoughtful participation in online activities and timely submission of assigned papers or projects.
  • Register

    Register

    Click here to register.
    This course is listed under the Premier Course option in the online application. Premier Online Courses are open to anyone 18 years of age and older. Registration takes approximately 5 minutes to complete.
    View Terms and Conditions
    Questions? Contact us at online@sia.edu.

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