Auctions Can Make Mistakes! Yes or NO?

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!!

Pericles Vyzantios

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!

Unsold!! Unsold!!

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!!

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