Art Auction

art · buying and selling · history

The gavel rules. An auctioneer uses a gavel to signal that a bid has been accepted and to close the sale. When the gavel comes down, the artwork belongs to the highest bidder.

Treasures on display. Before an auction, artworks are displayed so buyers can see them in person and decide how much they want to bid. This preview period helps people make smart choices about what to buy.

Prices skyrocket. Famous paintings and sculptures can sell for millions of dollars at auctions because many wealthy collectors compete to own them. The more people who want something, the higher the price climbs.

Special buildings. Auction houses are fancy buildings designed just for selling art, with bright lighting and beautiful display spaces. Famous ones like Christie's and Sotheby's have been around for hundreds of years.

Art finds new homes. Auctions help artworks travel around the world, moving from one collector's home to another and sometimes to museums where everyone can enjoy them.