Art Auction FAQs
What is Artsy?
Artsy is the world’s largest and fastest growing marketplace for buying and selling art, with the world’s largest database of contemporary art. The museum’s auction is powered by Artsy, enabling art lovers from around the world to view and bid online. Learn more about Artsy.
How do I register on Artsy?
It’s only a 20-second registration process.
Simply download the Artsy app or visit Artsy.net and click on “Sign Up.”
Visit artsy.net/lagunaartmuseum or click on “Auctions” to navigate the online gallery.
Click on “Register to Bid” and enter your contact and payment information. Your credit card is used to validate your account, but will not be charged if you win the bid of a Lot #. Payment is managed by LAM on Monday, March 6th.
Is registering with Artsy free?
How do I bid on Artsy?
Bidding is easy with Artsy’s automatic bidding system. Select your bid amount as long as it is greater than or equal to the next minimum bid shown on the bidding screen, then click the “Bid” button. This will automatically place a bid for you at the next increment and save the amount you entered (if higher) as your “Maximum Bid.”
What is a Maximum bid?
If you enter a bid amount higher than the next minimum bid, the amount you enter is treated as your “Maximum Bid.” Entering a Maximum Bid does not necessarily mean you will pay that price, and you may pay less. Artsy’s system will bid automatically for you against other bidders during the auction, according to our automatic bidding increments up to (but not exceeding) your Maximum Bid, as much as necessary to maintain your position as highest bidder. If two bidders attempt to enter the same Maximum Bid, the first bidder to enter that amount will be the winner.
Can I bid without visiting the museum?
Yes! You can bid on your computer or mobile device. Artsy representatives can also bid for you over the phone.
How will I know if I have been outbid?
Artsy will send you a text message and email when you are outbid. Auction bidding will begin with the minimum bid amount posted on Artsy. Each bid thereafter must exceed the previous amount in the increment posted on Artsy. There will be no exceptions. If at any time during the auction a bid does not comply with the established incremental amount, Laguna Art Museum reserves the right to adjust the bid accordingly.
You understand that if your bid is successful, you will be obligated to pay the purchase price, which will be the sum of the final bid plus 7.75% sales tax.
When does the auction close?
The auction closes at 8:30pm PST on Saturday, March 4th, 2023.
How can you retrieve your art following the auction?
- Pick up at Laguna Art Museum will be available on March 7th, 8th, and 9th only, following your payment processing by LAM.
- Shipping and Handling – All shipping and handling following the Art Auction will be facilitated by US Art. If you select shipping, you will be connected to US Art to determine your shipping preferences.
Can I choose an alternative shipper?
No. U.S. Art is the largest fine art handler domestically and throughout the world. U.S. Art’s commitment to the safe transportation of artwork is unparalleled. All art handling and shipping must abide by museum standards of care and liability. Where applicable, winners agree to pay for shipping costs of items such as shipping, handling, packing, tariffs, insurance, carrier fees, customs, duties, or any other costs related to shipping the art to the winner.
Will I be able to pick up my art at the museum after the auction closes?
Yes, following your payment completion, you may schedule an appointment to pick up March 7th, 8th or 9th.
- All property is sold “as is” (as exhibited).
• Purchase of any artwork(s) does not transfer copyright.
• All sales are final, at the amount of the winning bid. No purchase can be negotiated,returned or exchanged.
• As a user of the Artsy platform, please review their terms and conditions, found here:
- In the event of a dispute, an Artsy official shall act as the final authority.
- Sales tax of 7.75% will be charged on all purchases.
- Bids are final and non-retractable.
• Auction items will be on view at Laguna Art Museum from Sunday, February 18, at 10:00 a.m. until Saturday, March 4, at 5:00 p.m.
• Bidding on Artsy will begin on Sunday, February 18, at 11:00 a.m. and will close on Saturday, March 4, at 8:30 p.m.
• Auction items will be posted on Artsy until closing on Saturday, March 4, at 8:30 p.m. To make a bid, please complete all information requested on the Artsy website or app, adhering to the established increments. The highest bid at the time of closing will constitute the winning bid.
• Auction bidding will begin with the minimum bid amount posted on Artsy. Each bid thereafter must exceed the previous amount in the increment posted on Artsy. There will be no exceptions. If at any time during the auction a bid does not comply with the established incremental amount, Laguna Art Museum reserves the right to adjust the bid accordingly.
• You understand that if your bid is successful, you will be obligated to pay the purchase price, which will be the sum of the final bid plus 7.75% sales tax.
Payment will be collected by Laguna Art Museum. Payment for winning bid is due Monday, March 6th, 2023, by check, credit card or ACH transfer. You will be contacted by Laguna Art Museum to process payment on Monday, March 6th, 2023.
Delivery or pick up
The relevant Artwork will not be made available for delivery or pick up unless or until Museum receives in clear funds all amounts payable to it in accordance with “Payment Terms”.
If you have elected to pick up the Artwork, and you fail to do so within two business days of the Fall of the Hammer, the Seller or the Seller’s Affiliate will be entitled to store the Artwork at Museum warehouse at the Buyer’s expense, and only release the Artwork after you make payment for removal, storage, handling, insurance and any other costs incurred, together with payment of all amounts due to Museum.
At the Fall of the Hammer, risk in the Artwork transfers to the Buyer and insurance is the responsibility of the Buyer. Museum does not provide transit insurance for Artworks sold by auction. Museum is not responsible for any acts or omissions of the Freight/Transit if you have requested delivery.
Remedies for non-payment
If the Buyer fails to make payment in accordance with Payment Terms when due, Museum is entitled to exercise one or more of the following rights or remedies (in addition to asserting any other rights or remedies available under the law):
(a) to hold the Buyer liable for the total amount due and to commence legal proceedings for recovery along with interest, legal fees and costs;
(b) to cancel the sale;
(c) to reject at future auction held by the Museum any bids made by or on behalf of the Buyer
or to require the Buyer to pay a deposit before accepting any future bids; and/or
(d) to take such other action as Museum deems necessary or appropriate.
(e) to offer the artwork to the backup bidder after 2 days of non-response to Payment Terms.
If Museum does sell the Artwork in accordance with this clause, then the defaulting Buyer will be liable to Museum for the payment of any difference between the Hammer Price originally payable and the Sale Price obtained upon sale to the backup bidder, as well as any Fees (commissions and Buyer’s premiums) that Museum would have received on the original sale and all costs, expenses, damages and legal fees incurred by Laguna Art Museum or the Seller or the Seller’s Affiliate as a result of the Buyer’s default.
If Museum, at its discretion, pays any amount to the Seller up to the net proceeds that would have been payable to the Seller in respect of the Hammer Price payable by the defaulting Buyer, Museum will have all the rights of the Seller, however arising, to pursue the Buyer for such amount.
Proceeds to LAM
All proceeds from the sale provide funding for LAM after applicable commission (see Artsy listing for % donated) to the donating artist and Artsy fees (10%) are deducted.
Applicable sales tax will be included in the total price in addition to the winning bid amount.
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