The beginner’s guide
Read beyond the headline
Compare like with like
Compare the same artist, medium, period and approximate size. A museum-quality canvas and a small drawing can occupy very different markets. A record sale does not set the value of every work.
Estimate is not sale price
An auction estimate is a guide. The hammer price is the winning bid; the final price may include buyer’s premium and taxes. Unsold lots matter too, even when they are absent from headlines.
Track evidence, not promises
Record sale date, auction house, currency, medium, dimensions and whether premiums are included. Look at multiple comparable sales over time. Past results do not guarantee future returns.