SUNDAY VIBES
when it comes down — sometimes with a light tap, other times with a resounding thunk — it indicates a sale, not a life sentence.
— The podium behind which the auctioneer stands, and frequently the object of the hammer’s thwack. When an artwork goes up for auction, it’s said to “go on the block.”
— The snooty relative of the ping pong paddle, these numbered instruments canbeusedtotelegraphbidsalthoughmany high-flying buyers opt for a more discreet approach, signalling to the auctioneer with a prearranged system of signs. These can be as simple as a nod, a discreet phone-call or a complicated language with multiple bidding expressions. Just don’t attempt to use the paddle as a fan; you might find yourself the unwitting buyer of a milliondollar piece of art (which is fine if you have millions to spare)!
Auction Block
Paddle
— A lot is typically a single work of art put up for bidding but can also contain more than one piece as a group.
— This is the auction house’s guestimate for what a particular work could fetch in a sale, agreed upon in advance as a bracket around the appraisal and included in auction catalogues. It includes a low estimate and a high estimate, and is typically written in the format of “RM100,000 — RM180,000,” or a permutation thereof.
Lot
will allow the auction house to sell an artwork for.
Estimate
— A beautifully-produced brochure or booklet that the auction house sends to collectors and other interested parties to whet appetites for sales, provide estimates while showcasing the works on offer. It isn’t unheard of to spend a princely sum producing a catalogue for a major sale, enlisting top art historians and photographers to argue why a particular work deserves to go for sometimes astronomical
sums.
Catalogue
Cover Lot
— This is the lot displayed on the cover of the magazine, and it’s generally the artwork that the house believes will generate the most excitement at auction. AUCTION DAY
Oct 28, 2018 (Sunday), 1pm PREVIEW DATES
Until Oct 27, 2018 10am - 6pm daily
WHERE: Galeri Prima, Balai Berita Bangsar, 31, Jalan Riong, Bangsar, Kuala Lumpur
elena@nst.com.my