What is the basis for the estimation of a given lot?

The estimated amount is the predicted price range within which the auction organizer expects the item to be sold. It is determined based on several key factors, such as:

1. The market value of the item: The estimated amount is based on the current market value of similar items, considering their popularity, demand, and trends in the art and collectibles market.
2. Condition and quality of the item: The better the condition and quality of the item (e.g., no damage, completeness), the higher the estimated value. In the case of artworks, the technique, materials, and overall preservation state are also evaluated.
3. Provenance (origin): The item’s history, including its provenance, previous owners, participation in exhibitions, reproductions in literature or catalogues, can significantly influence the estimated value.
4. Uniqueness:The more unique an item is, the higher its estimated value. Limited editions, one-of-a-kind pieces, or items with historical significance often receive higher prices.
5. Previous auction results: Auction organizers analyse the sales of similar items from past auctions to determine a realistic price range.
6. Expert opinion: The estimated value is determined by specialists from the auction house or gallery who provide a professional appraisal of the item.

Important! Estimation is not the final price: It is merely a forecast, and the actual selling price may be lower or higher depending on the bidders’ interest.

An estimate may have one or two values: the price range either falls around the indicated value or within a range between the lower and upper bounds of the projected price.