Online Art Auctions – How To Make It Work

It is clear that using the Internet as a transaction platform is increasingly attractive to businesses. eBay creates a virtual space for buyers and sellers of various items to organize the “world online marketplace” but most people know it as an online auction system. Auctions are generally used to assign value to items that have ambiguous and uncertain value such as art, companies, horses, old cars, or anything so unique that they have no distinct value.
Traditionally, this kind of value creation or exchange was done in a physical setting where interested partisans would gather in a group. The social pressures of physical presence can create insane prices just because a bidder is caught under the fever of the game. This is often seen at art auction houses (Christie’s or Sotheby’s) where only a few bidders are fighting earnestly for the public’s attention or to have everyone else by being the only one standing Sicbo Online Terpercaya .
This is an interesting game especially for people who are already in high power (lots of money) positions. These days less and less people come to these auctions, instead represented by art dealers, hence the move to the online system. So what’s the key to moving art auctions online in a successful way? Will for example Christie’s and Sotheby’s be able to successfully sell their goods online in a way that satisfies them and their clients? Maybe this won’t happen until they see a significant offer is absent or made over the phone.
The online system will reduce this social pressure, which can lead to favorable results. It can also lead to a “righter” artistic price if the individual acts solely on his or her behavior. When bidding on ebay, you don’t have a group of friends backing you and clicking that button – or do you? For businesses, it’s easier because you leave the transportation costs to the seller and the buyer. There may be more exchanges as the Internet reaches more interested parties
An introduction to online poker games or online gambling can provide clarity. Gambling results can sometimes be compared to uncertain art auction results. You have butterflies in your stomach, you sweat, you think you can outsmart the odds – it’s empowering and fun. If you can create an empowering sensation online then this could be the start of a successful art auction. Perhaps online stock games are another model to investigate.
Then we came across questions about the validity and identity certification of online systems and the artwork itself (you can’t touch or feel the artwork), so how do you get people to trust your virtual identity? Christie’s and Sotheby’s have a reputation that endures since the 18th century and people trust their authenticity.
With online art auctions you have to trust the system. First, your internet connection is fast enough to keep you the highest bidder. Sometimes online art auctions are supported by the option of submitting a proxy form or telephone bidding to ensure your intentions are met to their fullest capacity. Until people become lazy enough to stay at home with a phone or computer and trust the system, online art auctions are at risk of failure.
The goal was for Christie’s and Sotheby’s to hold an online art auction. The criticism that they face is that their submission involves high-value artwork so it’s hard to trust the online system. Or, art auction houses don’t think art will fetch high prices because of the absence or lack of social pressure. However, I often sweat and readjust my maximum bid on eBay for concert tickets that I really want. The problem is that they want you to sweat like after a marathon.
One strategy is to start with mid-range artwork and build a system that is trusted and with time can accommodate high-end art as well. Or work on creating a live interactive system that works and makes people feel like they are part of something as real as Second Life. Imagine the possibilities!