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Auctions
by
Ralph E. Lerner
RalphELerner.com
ralph@artworldadvisors.com
590 Madison Ave, New York, NY, 10022
(212) 521-4437
http://www.RalphELerner.com/
*BIDS ARE ALSO MADE BY TELEPHONE
Parke-Bernet v. Franklyn
Les Baigneurs
Roger de la Fresnaye
http://www.RalphELerner.com/
Les Baigneurs
Roger de la Fresnaye
Parke-Bernet v. Franklyn
*BIDS ARE ALSO MADE BY TELEPHONE
*BIDS ARE ALSO MADE IN WRITING
http://www.RalphELerner.com/
Les Baigneurs
Roger de la Fresnaye
Parke-Bernet v. Franklyn
*BIDS ARE ALSO MADE BY TELEPHONE
*BIDS ARE ALSO MADE IN WRITING
*BIDS ARE ALSO MADE ONLINE http://www.RalphELerner.com/
ONLINE AUCTIONS
* OVER 300 ONLINE AUCTION HOUSES
WORLDWIDE
* e-BAY: OVER 2 MILLION AUCTIONS PER
DAY IN MORE THAN 1600 CATEGORIES
* ONLINES COLLECT A SELLER’S FEE:
-- INSERTION FEE: $2.00 OR LESS; &
-- FINAL VALUE FEE: 1 - 5% FINAL PRICE
http://www.RalphELerner.com/
* GENERALLY, WITH ONLINE BIDDING:
-- BUYER REGISTERS TO BID FOR FREE
-- BUYER BIDS MAXIMUM AMOUNT
-- EACH AUCTION: 3 TO 10 DAYS
-- BUYER NOTIFIED BY E-MAIL
-- BUYER SHOULD E-MAIL SELLER WITHIN 3
BUSINESS DAYS
-- SELLER FORWARDS ITEM ON RECEIPT OF
PAYMENT
http://www.RalphELerner.com/
* MOST ONLINES DO NOT VERIFY GOODS
* MANY ONLINES DO:
-- POST FEEDBACK ABOUT SELLERS
-- REMOVE SELLERS WHO GET TOO MUCH
NEGATIVE FEEDBACK
-- OFFER INSURANCE
-- HAVE OR REQUIRE RETURN POLICIES
http://www.RalphELerner.com/
SIMULATED PEARL NECKLACE,
LOT #454
*ESTIMATES: $500 - $700
*JACQUELINE KENNEDY
ONASSIS ESTATE
*APRIL 25, 1996
http://www.RalphELerner.com/
CONSIGNOR-AUCTIONEER
RELATIONSHIP
* Collection & Remittance of Sales Proceeds
http://www.RalphELerner.com/
CONSIGNOR-AUCTIONEER
RELATIONSHIP
* Collection & Remittance of Sales
Proceeds
* Set Reserves & Estimates
* Advise on Art’s Auctionability
* Affirm Art’s Authenticity
Cristallina v. Christie’s
Claude Monet
http://www.RalphELerner.com/
CONSIGNOR-AUCTIONEER
RELATIONSHIP
* Collection & Remittance of Sales
Proceeds
* Set Reserves & Estimates
* Advise on Art’s Auctionability
* Affirm Art’s Authenticity
Cristallina v. Christie’s
Greenwood v. Koven:
Fiduciary Limits
Georges Braque
http://www.RalphELerner.com
/
CONSIGNOR-AUCTIONEER
RELATIONSHIP
* Collection & Remittance of Sales Proceeds
* Set Reserves & Estimates
* Advise on Art’s Auctionability
* Affirm Art’s Authenticity
Cristallina v. Christie’s
Greenwood v. Koven:
Fiduciary Limits
* Obligation to Obtain Best Valid Price
-- Buyer’s Premium
-- Guaranteed Price
http://www.RalphELerner.com/
* Collection & Remittance of Sales Proceeds
* Set Reserves & Estimates
* Advise on Art’s Auctionability
* Affirm Art’s Authenticity
Cristallina v. Christie’s
Greenwood v. Koven:
Fiduciary Limits
* Obligation to Obtain Best Valid Price
-- Buyer’s Premium
-- Guaranteed Price
* Safe Custody of the Art
CONSIGNOR-AUCTIONEER
RELATIONSHIP
http://www.RalphELerner.com/
* Assurances of Authenticity
AUCTIONEER-BUYER
RELATIONSHIP
Faberge Enamel Easter Egg
http://www.RalphELerner.com/
AUCTIONEER-BUYER
RELATIONSHIP
* Assurances of Authenticity
* Assurances of Title
Faberge Enamel Easter Egg
http://www.RalphELerner.com/
* Assurances of Authenticity
* Assurances of Title
* Auction Process Has Integrity
-- Loans to Buyers
AUCTIONEER-BUYER
RELATIONSHIP
Vincent Van Gogh
“Irises”
http://www.RalphELerner.com/
* Assurances of Authenticity
* Assurances of Title
* Auction Process Has Integrity
-- Loans to Buyers
AUCTIONEER-BUYER
RELATIONSHIP
Vincent Van Gogh
“Irises”
-- Antitrust Investigation
http://www.RalphELerner.com/

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Ralph E Lerner: Auctions.ppt

  • 1. Auctions by Ralph E. Lerner RalphELerner.com ralph@artworldadvisors.com 590 Madison Ave, New York, NY, 10022 (212) 521-4437 http://www.RalphELerner.com/
  • 2. *BIDS ARE ALSO MADE BY TELEPHONE Parke-Bernet v. Franklyn Les Baigneurs Roger de la Fresnaye http://www.RalphELerner.com/
  • 3. Les Baigneurs Roger de la Fresnaye Parke-Bernet v. Franklyn *BIDS ARE ALSO MADE BY TELEPHONE *BIDS ARE ALSO MADE IN WRITING http://www.RalphELerner.com/
  • 4. Les Baigneurs Roger de la Fresnaye Parke-Bernet v. Franklyn *BIDS ARE ALSO MADE BY TELEPHONE *BIDS ARE ALSO MADE IN WRITING *BIDS ARE ALSO MADE ONLINE http://www.RalphELerner.com/
  • 5. ONLINE AUCTIONS * OVER 300 ONLINE AUCTION HOUSES WORLDWIDE * e-BAY: OVER 2 MILLION AUCTIONS PER DAY IN MORE THAN 1600 CATEGORIES * ONLINES COLLECT A SELLER’S FEE: -- INSERTION FEE: $2.00 OR LESS; & -- FINAL VALUE FEE: 1 - 5% FINAL PRICE http://www.RalphELerner.com/
  • 6. * GENERALLY, WITH ONLINE BIDDING: -- BUYER REGISTERS TO BID FOR FREE -- BUYER BIDS MAXIMUM AMOUNT -- EACH AUCTION: 3 TO 10 DAYS -- BUYER NOTIFIED BY E-MAIL -- BUYER SHOULD E-MAIL SELLER WITHIN 3 BUSINESS DAYS -- SELLER FORWARDS ITEM ON RECEIPT OF PAYMENT http://www.RalphELerner.com/
  • 7. * MOST ONLINES DO NOT VERIFY GOODS * MANY ONLINES DO: -- POST FEEDBACK ABOUT SELLERS -- REMOVE SELLERS WHO GET TOO MUCH NEGATIVE FEEDBACK -- OFFER INSURANCE -- HAVE OR REQUIRE RETURN POLICIES http://www.RalphELerner.com/
  • 8. SIMULATED PEARL NECKLACE, LOT #454 *ESTIMATES: $500 - $700 *JACQUELINE KENNEDY ONASSIS ESTATE *APRIL 25, 1996 http://www.RalphELerner.com/
  • 9. CONSIGNOR-AUCTIONEER RELATIONSHIP * Collection & Remittance of Sales Proceeds http://www.RalphELerner.com/
  • 10. CONSIGNOR-AUCTIONEER RELATIONSHIP * Collection & Remittance of Sales Proceeds * Set Reserves & Estimates * Advise on Art’s Auctionability * Affirm Art’s Authenticity Cristallina v. Christie’s Claude Monet http://www.RalphELerner.com/
  • 11. CONSIGNOR-AUCTIONEER RELATIONSHIP * Collection & Remittance of Sales Proceeds * Set Reserves & Estimates * Advise on Art’s Auctionability * Affirm Art’s Authenticity Cristallina v. Christie’s Greenwood v. Koven: Fiduciary Limits Georges Braque http://www.RalphELerner.com /
  • 12. CONSIGNOR-AUCTIONEER RELATIONSHIP * Collection & Remittance of Sales Proceeds * Set Reserves & Estimates * Advise on Art’s Auctionability * Affirm Art’s Authenticity Cristallina v. Christie’s Greenwood v. Koven: Fiduciary Limits * Obligation to Obtain Best Valid Price -- Buyer’s Premium -- Guaranteed Price http://www.RalphELerner.com/
  • 13. * Collection & Remittance of Sales Proceeds * Set Reserves & Estimates * Advise on Art’s Auctionability * Affirm Art’s Authenticity Cristallina v. Christie’s Greenwood v. Koven: Fiduciary Limits * Obligation to Obtain Best Valid Price -- Buyer’s Premium -- Guaranteed Price * Safe Custody of the Art CONSIGNOR-AUCTIONEER RELATIONSHIP http://www.RalphELerner.com/
  • 14. * Assurances of Authenticity AUCTIONEER-BUYER RELATIONSHIP Faberge Enamel Easter Egg http://www.RalphELerner.com/
  • 15. AUCTIONEER-BUYER RELATIONSHIP * Assurances of Authenticity * Assurances of Title Faberge Enamel Easter Egg http://www.RalphELerner.com/
  • 16. * Assurances of Authenticity * Assurances of Title * Auction Process Has Integrity -- Loans to Buyers AUCTIONEER-BUYER RELATIONSHIP Vincent Van Gogh “Irises” http://www.RalphELerner.com/
  • 17. * Assurances of Authenticity * Assurances of Title * Auction Process Has Integrity -- Loans to Buyers AUCTIONEER-BUYER RELATIONSHIP Vincent Van Gogh “Irises” -- Antitrust Investigation http://www.RalphELerner.com/