Auktionshäuser

Auktionshäuser are specialized firms that organise and conduct auctions for a range of goods, including fine art, antiques, jewelry, books, and collectibles. They provide appraisal, authentication, cataloging, marketing, and logistical services to consignors and buyers, and they help determine market value through competitive bidding.

Historically emerging in Europe in the 17th and 18th centuries, modern auction houses now operate globally with professional staff, inventories, and online platforms. Leading houses such as Christie's and Sotheby's handle major sales and offer provenance research, restoration, and insurance services, while regional houses serve local markets.

Operations begin when a seller consigns items to be sold. Items are appraised, catalogued, photographed, and presented in a sale catalogue. Auctions can be conducted in person, online, by phone, or via hybrid formats. Viewings allow inspection prior to bidding. Bids may be placed in person, by telephone, as absentee bids, or online. The hammer price plus a buyer's premium determines the final price; many lots also have a reserve price. If unsold, a lot is withdrawn. After payment, shipping or collection follows.

Auction houses invest in authentication and provenance verification to protect buyers and maintain market integrity. They are subject to national laws and professional standards aimed at preventing fraud and money laundering. The rise of online and live-online auctions has broadened participation and increased liquidity in the market.