What is an art auction?

An art auction is a public sale where artworks and objects are sold to the highest bidder. It remains one of the most trusted and transparent ways to buy and sell fine art, antiques, jewellery and other valuable items — often in a matter of minutes.

At Christie’s, auctions take place both live and online, offering flexible ways to participate, wherever you are in the world. We hold regular auctions in more than 80 art and luxury categories, spanning ancient antiquities and rare books to watches, jewellery and contemporary art.

What are live and online auctions?

Christie’s auctions are held in two main formats:

• Live auctions are conducted in real time, led by an auctioneer in the saleroom. Bids are accepted in person, in advance (via absentee bidding), by phone or digitally during the sale.
• Online-only auctions run over several days on christies.com, allowing registered bidders to place and monitor bids at their convenience.

In both formats, the highest bid at the close of the lot determines the hammer price — the winning sale amount before any fees and taxes.

How does an art auction work?

• Valuation and consignment
  During the consignment period, specialists identify and invite works for inclusion in the auction. They work closely with prospective sellers (also known as consignors) to assess, research and value each piece. A reserve price — the minimum amount the seller is willing to accept — is agreed at this stage.
• Online publication and catalogue
  After the consignment period closes, confirmed lots are carefully presented across Christie’s digital platforms and, in some cases, in a printed catalogue. Each work is accompanied by detailed descriptions, professional photography and relevant provenance or exhibition history.
• Pre-sale exhibition
  Works are often presented in a public exhibition before the sale, giving prospective buyers the chance to view pieces in person and speak with specialists.
• The auction
  During a live auction, each lot is introduced by the auctioneer, with bids taken from the room, online, by phone or absentee bid. The auctioneer controls the pace as offers rise in set increments until the highest bid is reached. In an online-only auction, bidding opens for a set number of days and closes at a scheduled time, with buyers placing bids at their convenience. In both formats, if bidding meets or exceeds the reserve price, the lot is sold.
• Post-sale services
  Once the hammer falls, the winning bidder is legally committed to purchase the work. The final invoice includes the hammer price plus the buyer’s premium, along with any applicable taxes and shipping-related expenses.

In summary

Auctions offer a dynamic yet accessible way to buy and sell art. Whether you're a first-time buyer or looking to expand your collection, Christie’s specialists are available to guide you every step of the way.

For more key terms and definitions, visit our full auction glossary.