My Blog Today is in Progress!!
On the 27th February I arranged to bid on the phone hoping to buy a good painting!!
It all went pear shape and it sank me to despair. It knocked my confidence in auctions and their services. What has happened? I am finding out right now!!
The painting in Paris attracted me a little as the estimate shouted a bargain, even though the actual image of the painting did not inspire me very much. However, a Vyzantios piece of that size made a lot of commercial sense in spite of its very big size and condition issues. I took into consideration several factors before deciding whether to bid or not:
Condition and costs of restoration £500.
Transportation to London £400.
Storage of painting
In spite of the low estimate of 1500 euros I had to spend at least another £1000 to bring the painting to shape.
I decided to take my chance and bid. Excitement, adrenalin going high and off I started the process of bidding on the phone. I called to ask for more info which was provided. I sent an email confirming who I was and stating that I wanted to bid on the phone. It was all arranged three days prior to the sale. Confirmation in place, condition reports in place and last Friday I sat waiting for the call from France. That is a straight forward process. Normal!! Do you think so?
The French take their time when auctioning art and I knew it would be a three to four hour’s sale. Started at 2.00 Paris time, 1.00 London time. Four o’clock and I am sitting anxiously working and my computer and expecting the call. Nothing and it is 4:30 and my anxiety is mounting. No ringing, no sound. All quiet on the Western front.
Five o’clock and by then I am desperate and thinking of scenarios why No call. By six o’clock I gave up and that was that. It was Friday and I could not vent my anger at the auctioneers in Paris. They are big, they are reputable and they know me. I have done business with them on several occasions!!
Weekend and slowly and gradually I calm down and wait for Monday to explode and lambast the auctioneers!!
The painting in question is here for you to view! What has happened? I do not know yet!! Tune in please!!
Monday 2nd March 2015
Phone in my hands. Should I start screaming or…?
Let me think seriously about my next move. It is important, I wanted the painting but they made me miss my chance. They have their excuses but I need to know why all the unprofessional conduct. Was it my phone, was it a clerical error or what?
What can I do and how? Monday morning I call the auction. The Vyzantios did not sell at the low estimate of 1500 euros. That sounded like weird but also sweet melody to my ears. Ha, Ha!
Can I make an after sale bid on the painting Miss? Yes, of course you can, was the answer. Thus I started the bargain hunting for real. My offer was a miserly 1000. euros. The painting remained unsold, Greece is not in financial glory as such and so…
I submit my bid in writing. Sit tight and wait for the answer. I give my self a chance to bargain and negotiate. That’s how it works. Long wait and I am waiting. No answer on 2nd March. French, they take their time and live longer, I hear! Is that true? Guess it is!! Laissez-faire!!
3rd March 2015
The saga about the above painting continues. It remained unsold and I was prepared to buy it at about 2000 euros. Now after its failure to sell, I do not want to pay the original sum and estimate and bargaining is of essence. Will I succeed or will they stay put. No issue with me. I am staying put and I not budging at my offer of 1600 euros total and No more. That, if it happens, will give me a good chance to make a few hundred pounds if not more.
Emails are the way of business these days and on the morning of the 3rd March I receive an email. The vendor demands the 1500 euros of the auction. I raise my bid to 1200 euros trying to save a penny or two. That is again the demand 1500 euros.
4th March 2015
I slept well and I am up expecting to see a positive answer. It’s not there , but I have already decided myself. Not interested any more. Several reasons and better thinking. First and foremost reason is logistical: Big painting, big expense to move around. Thus the saga of the Vyzantios in Paris is over and I am disappointed I did not buy it. I still have a chance but I do not feel I am as hot as I was a few days ago.!! No lambasting of the auctioneers either. Am I happy? No, I am thinking with my brain rather than my heart!! Is that me??
Live for another day!! Dum Spiro Spero!!