Auction House Guarantee, Auction house guarantee, in English auction house guarantee, is an agreement between the auction house and an investor or collector. It is a widespread practice among the major auction houses such as Sotheby's1 y Christie's2 as they add an additional layer of security and confidence to the art seller.
The agreement sets a minimum amount that the investor agrees to pay, regardless of whether there are other bidders or not, to ensure that the object has a minimum sale value. In addition, the investor shares in the proceeds from the sale of the work when there are bidders.
Some Legendary Auctions may include an Auction Guarantee in which case the information will be included on the auction page.
Do you want to participate as a Guarantor?
- In exceptional cases, Sotheby's guarantees payment to the consignor for a lot, regardless of whether the auction bid reaches the reserve price. The guarantee may be offered by Sotheby's, by a third party or jointly by Sotheby's and a third party. Third parties who offer the guarantee, in whole or in part, realize a financial benefit if the guaranteed lot is successfully sold and may suffer a loss if the sale does not materialize. https://www.sothebys.com/en/buy-sell ︎
- Financial guarantees are offered in response to the request of some of our sellers, including trustees, private clients, foundations and charities, to have certainty about the value of their works. This guarantees that Christie's can offer the best selection of works for sale. While these guarantees are established for the benefit of the seller, for the sake of transparency, we want to ensure that all our buyers are aware of their existence and understand how they work. https://www.christies.com/en/help/buying-guide-important-information/financial-information ︎