Attribution wording is a legal ladder, not flattery
Auction catalogues use a standardised hierarchy to state how confident the cataloguer is about authorship. Read it carefully, because each step down changes the value dramatically:
- 'Jan Vermeer' (full name and surname) — in the cataloguer's opinion, a work by the artist.
- 'Attributed to' — probably by the artist, at least in part.
- 'Studio of' / 'Workshop of' — executed in the artist's studio, possibly under supervision.
- 'Circle of' — by an unidentified hand close to the artist, of the period.
- 'Follower of' / 'Manner of' — in the artist's style, possibly much later.
- 'After' — a copy of a known work, of any date.
Condition matters more in art than in almost anything else
Two apparently identical pictures can differ several-fold in price on condition alone. Ask for the condition report, and read it for the things images hide: relining, tears, overpaint, craquelure, sun fading, foxing on works on paper, and trimmed margins on prints.
For prints, edition details are part of condition and value: the number in the edition, whether it is signed in pencil or in the plate, the state, and whether the sheet retains full margins. A plate-signed poster and a pencil-signed limited edition of the same image are not the same object.
Provenance, literature and exhibition history
Provenance is the record of ownership. A continuous chain back to a reputable source supports authenticity, helps with export questions, and — for European material with a twentieth-century history — matters for restitution due diligence. Gaps are not automatically sinister, but they are worth asking about.
Literature (the work being published in a catalogue raisonné or monograph) and exhibition history add both confidence and value. If a catalogue raisonné exists for an artist, inclusion in it is close to essential above modest price levels.
Estimates, reserves and what you should bid
The estimate range is the specialist's opinion of likely value, based on comparable results. It is not a valuation and not a starting price. The reserve — the confidential minimum the seller will accept — sits at or below the low estimate.
Set your limit before the sale, based on what the picture is worth to you and on comparable results you have checked yourself, then bid to it and stop. The mechanics of increments, maximum bids and closing extensions are covered in how online auctions work.
The real cost of the picture
Budget the hammer price plus the buyer's fee, then add shipping, insurance and — for cross-border purchases — import VAT or duty. Add framing or conservation where the report suggests it, and remember that artist's resale rights apply in some jurisdictions on qualifying works.
A useful discipline: decide the total you are prepared to pay all-in, then work backwards to the hammer figure you can bid to. Sernelo's fees page sets out the buyer's fee, and the import duties page covers the cross-border position.
Practical checks before you commit
Look at the work in person if you can, or ask for additional photographs in raking light and under UV, which reveals overpaint and restoration. Ask what the frame is — original period frames carry value of their own.
Finally, check the dimensions against your wall and your access. It is a mundane point, and it is the one first-time buyers most often forget.