One of the most underestimated elements of the art and antiques market is the choice of sales channel. Owners tend to focus on the author, age, condition, and “potential price,” treating the method of sale as a secondary issue. Meanwhile, from the perspective of long-term market practice, the decision—auction or private sale—often determines not a difference of a few percent, but hundreds of thousands in the final result.
The market is not uniform. Each sales channel has its own logic, its own risks, and its own beneficiaries. Problems begin when the choice of channel results from habit, time pressure, or the promise of a “quick sale,” rather than from an analysis of the specific object.
Auction: The Spectacle of Price and the Risk of the Event
An auction is the most visible and media-driven sales channel. It provides a public result, a sense of transparency, and—in the best-case scenario—the effect of competition between bidders. This is why it is often perceived as “the best path” to achieving a high price. But an auction is not a neutral tool. It is a market event, not a guarantee of value.
The auction price depends on many factors that have little to do with the object itself: the auction date, the composition of the room, telephone bidding activity, market sentiment, current collecting trends, and even the object’s position in the catalogue. The same item offered at a different time or at a different auction house can produce a radically different outcome.
Auctions favor objects that are:
- easy to understand in market terms,
- comparable to previous sales,
- aligned with current demand,
- capable of triggering competitive emotion.
They do not favor objects that require time, explanation, context-building, or precise buyer selection. In such cases, auctions can be brutal: if there is no competition, the price drops—publicly and irreversibly.
Private Sale: Silence That Works in Favor of Price
A private sale is the opposite of an auction. There is no public pressure, no ticking clock, no “audience.” Instead, there is time, selection, and control over the narrative. This is a channel in which the price is not the result of impulse, but of negotiation between parties aware of their respective positions.
In private sales, the key factor is matching the object with a specific buyer. This is a relational market, not a mass one. A well-managed private sale can achieve prices higher than auction results—provided the object genuinely meets a specific collecting, investment, or institutional need.
Private sales work particularly well for objects that are:
- rare or difficult to compare,
- requiring discretion,
- of high value, where a single buyer is sufficient,
- possessing international potential,
- likely to suffer from a public auction “failure.”
Their disadvantage is time and the lack of public price confirmation. Their advantage is risk control and the potential for result maximization.
When an Auction Is a Mistake
From the perspective of market practice, the most expensive mistakes occur when an object is sent to auction:
- too early,
- without full market recognition,
- without a built sales history,
- simply because “that’s how it’s done.”
An unsuccessful auction leaves a mark. The price becomes public. The object is labeled as “unsold” or sold below expectations. In subsequent sales attempts—including private ones—this information acts as a price anchor, weakening the owner’s negotiating position.
When a Private Sale Makes No Sense
A private sale is not a universal solution. If an object:
- is typical and well established at auction,
- has numerous market comparisons,
- fits current trends,
- and the owner prioritizes speed,
then an auction may be the best choice. Attempting a private sale in such cases can waste time and energy, and the market will ultimately “return” to the auction as the natural point of reference.
Most Important: The Sales Channel Is Part of the Valuation
A professional valuation does not end with a number. It ends with a recommendation of the sales channel. The same work may have one value at auction and another in private circulation. The difference between them is not a market error—it is the market’s structure.
That is why the question is not: “How much is it worth?” but rather:
where, to whom, and in what way is that value meant to be realized?
In the art market, price is not a reward for ownership. It is the result of a correctly made decision.
If you want to know the real value of your object and choose the appropriate sales channel in the current market—check the valuation at ArtRate.art.
