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Many people see an auction catalog as a glossy magazine with beautiful pictures, but its primary function is entirely different. In essence, the catalog is a legal document that establishes the terms of the transaction between the auction house and the buyer. All descriptions, estimates, and terms presented in it form the basis of the sales agreement.
Many people see an auction catalog as a glossy magazine with beautiful pictures, but its primary function is entirely different. In essence, the catalog is a legal document that establishes the terms of the transaction between the auction house and the buyer. All descriptions, estimates, and terms presented in it form the basis of the sales agreement.
That is why it is crucial to carefully study not only the descriptions of specific lots but also the 'Terms and Conditions' section. This section contains all the rules for conducting the auction, the obligations of the parties, commission rates, and guarantees provided by the auction house. By purchasing a lot, you automatically agree to these conditions.
| Term | Meaning |
| [Artist's Name] | The auction house is fully confident that this is a work by this author. |
| Attributed to [Artist's Name] | The work is likely by the artist, but there is no 100% guarantee. |
| Workshop of [Artist's Name] | The work was created in the artist's workshop, possibly by his students or under his supervision. |
| Circle of [Artist's Name] | The work was created by an unknown artist who was strongly influenced by the master and worked at the same time. |
| Manner of/Style of [Artist's Name] | The work is executed in the style of the artist, but most likely at a later time and by a different author. |
Each lot description in a catalog is a condensed piece of information about the item, where every word matters. The standard structure includes the artist's name, the title of the work, the creation date, technique, materials, and dimensions. However, special attention should be paid to the wording concerning authorship, as it indicates the auction house's degree of confidence in the attribution.
There are commonly accepted terms that help to understand who exactly created the work. Misinterpreting these phrases can lead to significantly overpaying for an item that is not an authentic work by the master.
The appearance of an item in a catalog photograph can be deceptive. To obtain objective information about the physical condition of a lot, there is a Condition Report. This document is not always published in the main catalog and often needs to be requested separately.
The condition report is a detailed description of all defects, restoration work, and damage that the item has. Ignoring this document can lead to purchasing an item with hidden problems that significantly reduce its value. The report typically includes the following information:
Provenance is the documented history of ownership of a work of art or an antique. It is one of the most important factors affecting the value and authenticity of a lot. Impeccable provenance can increase an item's value several times over, as it serves as a guarantee of its authenticity and adds historical significance.
Information about provenance in the catalog may include the names of previous owners, inclusion in famous collections, and mentions of previous auction sales. The longer and 'cleaner' the history of ownership, the greater the confidence in the item. A lack of provenance, especially for works by well-known masters, should be a cause for caution.
The 'Exhibited' and 'Literature' sections in a lot's description are further confirmation of its cultural and historical value. If a work of art has been part of significant museum or gallery exhibitions, it serves as recognition of its importance by the expert community.
The mention of an item in specialized literature, artist monographs, or catalogues raisonnés (complete catalogs of an artist's works) is also a strong argument for its authenticity and significance. This information not only enhances the lot's prestige but also makes it more attractive to serious collectors and investors.
