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Art Auction Vocabulary: What To Know When Buying at Auction

Everyone loves a good auction, especially a Western art auction.  The energy is kicked up a notch with the cattle calling and hootin' and hollerin' of the spotters.  The action is fast-paced with live bidding on the floor, absentee bidding, phone bidding, and now, increased online bidding.  Don't let the action or pace hold you back though, because buying at auction is relatively easy and there are plenty of opportunities for great deals.  Not only do art auctions make for great entertainment when there's a bidding war for a special painting a la Andy Thomas' "Charlie and His Characters", but they also set the mood for the art market as a whole.  Whether you're an experienced auction-goer or new to the bidding world, here's an introduction to common terms surrounding art auctions.

Auctioneer - The person with the mic and the gavel.  The emcee of the sale who controls the energy, pace and fate of each work in the auction.  Different auctioneers and…

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