The shortcomings of on-line auctions – art market insight

Since quite some time already, Internet auctions have become commonplace and art in all its forms is effectively sold in the on-line environment. However, the virtual market place is clearly second-rate in features that bring pleasure and thrill to the sales room. Whoever attended a real life auction sale will agree to that the web substitute is a lacklustre experience. The debate about reading print on paper versus reading pixels on screens is similar in argument and touches spontaneous user experience. However, user affection is not the primary problem.

Virtual auctions on the Internet have so far seen the most attractive feature of the auction sale mechanism radically changed. Whereas real live auctions are impulsive and often give occasion to prolonged bidding during the finale, web auctions are abruptly decided on by the non-changing and uncompromising ending hour. 'Impulsive bidding' is ruled out and on the spot decisions, when the bidder sees his own maximum surpassed, are not possible. This is aberrant as raising set limits at the crucial moment is quite natural (seen that the market value for the work in question is established at that very instant).

Long distance participation in auction sales has a long history. The galleries of major sales rooms are still brimming with agents bidding for an absentee clientele. Auxiliary on-line live bidding participation has now gained ground and has extended the conventional triangular traffic between the floor, the telephone bidders and the auctioneer handling absentee bids.

To counter the evident drawback of non-live on-line auctions, some have tried to recreate the live auction experience on the Internet, notably eBay Live. The imminent cessation of eBay's live auction activity has already encouraged other players to enter this difficult market. The problem with eBay-live was their inability to fit real live auction atmosphere into their interface. Their drab solution, lacking in dynamism and missing in everything that calls up the real auction thrill, was simply inadequate.

It's the hammering that makes all the difference in live situations; and the indecisive moment of hammering is at the heart of auctions. Until this fundamental feature can be faithfully recreated on the web, real-life auctions in brick-and-mortar venues will have the favour with the public.

That the most prestigious of art portals, artnet, recently mounted their new Internet auction venue on the static model, lacking in real auction flair, shows that the industry is not yet capable of materializing a virtual live-auction platform comparable to traditional venues in excitement and appeal.

The author, Michael de Bruges is an expert on Modern European Painting. See further European Fine Art, European Painting and Wise to Art - a blog on the online art market