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<p>[QUOTE=&quot;Nerva, post: 3156837, member: 87761&quot;]Interesting thread. I know the fine art market better, and it seems to have a few differences. In fine art, individual lots typically have higher value and there&#039;s more negotiation between auctioneer and consigner around reserve. Auctioneer&#039;s interest is in selling the lot to earn commission, whereas consigner wants highest price. Auctioneer&#039;s dilemma is negotiating reserve high enough to win the consignment but low enough to ensure sale and generate interest. </p><p><br /></p><p>Usually auctioneer wants low estimate, but not always. As with the coin world, there are price databases. But they&#039;re not always easy to apply: minor variations and differences in condition make a difference that&#039;s hard to predict. An unusually great picture by a minor artist might be given a high estimate to signal to potential buyers and anchor their bids at a higher level, rather than just putting on the lowest possible estimate. </p><p><br /></p><p>It seems more common to make post-sale offers under the reserve in art auctions. Some coin auctioneers seem taken aback that I&#039;d even ask. I guess the differences are because it&#039;s a higher volume/lower value business with more homogeneous objects.[/QUOTE]</p><p><br /></p>

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