Auctions

by

Ralph E. LernerRalphELerner.com

ralph@artworldadvisors.com

590 Madison Ave, New York, NY, 10022

(212) 521-4437

http://www.RalphELerner.com/

*BIDS ARE ALSO MADE BY TELEPHONE

Parke-Bernet v. Franklyn

Les Baigneurs

Roger de la Fresnaye

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Les Baigneurs

Roger de la Fresnaye

Parke-Bernet v. Franklyn

*BIDS ARE ALSO MADE BY TELEPHONE

*BIDS ARE ALSO MADE IN WRITINGhttp://www.RalphELerner.com/

Les Baigneurs

Roger de la Fresnaye

Parke-Bernet v. Franklyn

*BIDS ARE ALSO MADE BY TELEPHONE

*BIDS ARE ALSO MADE IN WRITING

*BIDS ARE ALSO MADE ONLINEhttp://www.RalphELerner.com/

ONLINE AUCTIONS

* OVER 300 ONLINE AUCTION HOUSES

WORLDWIDE

* e-BAY: OVER 2 MILLION AUCTIONS PER

DAY IN MORE THAN 1600 CATEGORIES

* ONLINES COLLECT A SELLER’S FEE:

-- INSERTION FEE: $2.00 OR LESS; &

-- FINAL VALUE FEE: 1 - 5% FINAL PRICE

http://www.RalphELerner.com/

* GENERALLY, WITH ONLINE BIDDING:

-- BUYER REGISTERS TO BID FOR FREE

-- BUYER BIDS MAXIMUM AMOUNT

-- EACH AUCTION: 3 TO 10 DAYS

-- BUYER NOTIFIED BY E-MAIL

-- BUYER SHOULD E-MAIL SELLER WITHIN 3

BUSINESS DAYS

-- SELLER FORWARDS ITEM ON RECEIPT OF

PAYMENT

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* MOST ONLINES DO NOT VERIFY GOODS

* MANY ONLINES DO:

-- POST FEEDBACK ABOUT SELLERS

-- REMOVE SELLERS WHO GET TOO MUCH

NEGATIVE FEEDBACK

-- OFFER INSURANCE

-- HAVE OR REQUIRE RETURN POLICIES

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SIMULATED PEARL NECKLACE,

LOT #454

*ESTIMATES: $500 - $700

*JACQUELINE KENNEDY

ONASSIS ESTATE

*APRIL 25, 1996

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CONSIGNOR-AUCTIONEER

RELATIONSHIP

* Collection & Remittance of Sales Proceeds

http://www.RalphELerner.com/

CONSIGNOR-AUCTIONEER

RELATIONSHIP

* Collection & Remittance of Sales

Proceeds

* Set Reserves & Estimates

* Advise on Art’s Auctionability

* Affirm Art’s Authenticity

Cristallina v. Christie’s

Claude Monet

http://www.RalphELerner.com/

CONSIGNOR-AUCTIONEER

RELATIONSHIP

* Collection & Remittance of Sales

Proceeds

* Set Reserves & Estimates

* Advise on Art’s Auctionability

* Affirm Art’s Authenticity

Cristallina v. Christie’s

Greenwood v. Koven:

Fiduciary Limits

Georges Braque

http://www.RalphELerner.com

/

CONSIGNOR-AUCTIONEER

RELATIONSHIP

* Collection & Remittance of Sales Proceeds

* Set Reserves & Estimates

* Advise on Art’s Auctionability

* Affirm Art’s Authenticity

Cristallina v. Christie’s

Greenwood v. Koven:

Fiduciary Limits

* Obligation to Obtain Best Valid Price

-- Buyer’s Premium

-- Guaranteed Price

http://www.RalphELerner.com/

* Collection & Remittance of Sales Proceeds

* Set Reserves & Estimates

* Advise on Art’s Auctionability

* Affirm Art’s Authenticity

Cristallina v. Christie’s

Greenwood v. Koven:

Fiduciary Limits

* Obligation to Obtain Best Valid Price

-- Buyer’s Premium

-- Guaranteed Price

* Safe Custody of the Art

CONSIGNOR-AUCTIONEER

RELATIONSHIP

http://www.RalphELerner.com/

* Assurances of Authenticity

AUCTIONEER-BUYER

RELATIONSHIP

Faberge Enamel Easter Egg

http://www.RalphELerner.com/

AUCTIONEER-BUYER

RELATIONSHIP

* Assurances of Authenticity

* Assurances of Title

Faberge Enamel Easter Egg

http://www.RalphELerner.com/

* Assurances of Authenticity

* Assurances of Title

* Auction Process Has Integrity

-- Loans to Buyers

AUCTIONEER-BUYER

RELATIONSHIP

Vincent Van Gogh

“Irises”http://www.RalphELerner.com/

* Assurances of Authenticity

* Assurances of Title

* Auction Process Has Integrity

-- Loans to Buyers

AUCTIONEER-BUYER

RELATIONSHIP

Vincent Van Gogh

“Irises”-- Antitrust Investigation

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