Do Art Auctions for Drawings Sell?

Art auctions for drawings are generally categorized into three, namely: antique, modern and contemporary. Antique drawings are those that were created before the year 1900. Drawings that were made between 1900 and 1949 are classified as modern drawings while those that were created from 1950 until the present are known as contemporary drawings.

There are many contemporary drawings that were listed in art auctions that never had a bidder. This is because the starting bid is very high that it discourages interest. For instance, an art auction was held for a drawing that was made in 2000 illustrating actor James Dean welcoming rock and roll superstar Elvis Presley into heaven. The starting bid was set for twelve million dollars. It did not come as a surprise why no one was interested to bid. There was also another art auction that listed a pen and ink drawing with a starting bid of $825,000.00. The artist then lowered it to $545,000.00 when the item did not sell. This may ultimately boil down to consumer behavior. Buyers would ultimately prefer an item that they can rather afford to one that they would find impossible to pay for.

Another reason why art auction for drawings do not usually sell is because many of the drawings are listed in the wrong categories. There have been contemporary drawings that were classified as antiques. Because competition in art auctions is so cutthroat, paying attention to every slightest detail is very important.

A buyer’s taste, style and preference can be another factor affecting the marketability of art auctions for drawings. There are some who may not be interested in a particular category of drawing while there may be others who make sudden shifts in preferences, for instance, from antique drawings to modern pieces. If applicable, a good tip is that art for auctions for drawings should determine from time to time which category of drawings the market is gearing to. For example, modern drawings have become a favorite among art auction buyers and aficionados. Many modern drawings might be expensive but the person who will end up with the highest bid is more likely to treasure such an item.

However there was an art auction in 1971, which featured a drawing that sold very well in London. The drawing was inherited from the seller’s grandfather who was initially the owner. The starting bid was set at $500.00. By doing an impressive ‘marketing’ stint, that is, describing and illustrating the drawing well, the item was sold for over twelve thousand dollars.

Antique drawings in art auctions can get a lot of interest. An antique drawing made in the 1800s featuring two nude men would go for more than eleven thousand dollars. This drawing was drawn by pen and ink with a brown wash and traces of charcoal on black pencil lines. Another antique drawing, signed original and was created by Sir Francis Grant in 1832, illustrating a woman and her daughter in Scotland, was held for auction with a starting bid of two thousand dollars.

Drawings from popular artists can make a lot of money in art auctions online as well. For instance, if an online auction contains the title ‘original Picasso’, the chances are that its starting bid may immediately go over two thousand dollars. Especially if the drawing is signed, then it can go way even higher.

Whether art auctions for drawings are online or offline, the aforementioned points should be taken into consideration if auctioneers want their items to increase its chances of becoming a seller and not a sellout.