But, because I mostly write about antiques and collectibles, people often ask me about how much they should pay for art at auctions, or at least want a rule of thumb to guide them at their local farm or estate auction…
I’m no art appraiser; most of my experience with antique paintings has been observed at (countless) smaller local auctions, Antiques Roadshow episodes, and those Roadshow style trash or treasure events. But I feel rather confident saying that any antique painting purchased for $150 or less is a bargain. Seems like no old painting is ever, unless the canvas is completely shredded, deemed worth less than $150. Even antique paintings by unknown artists with small tears and in need of professional cleaning seem to be valued at or over $150.
That said, expect to pay more. Not just for big name artists, but for paintings which charm. If the painting charms you, it likely will charm another bidder or two, increasing the price. That said, console yourself with the following rational reasons to spend as much as you’d like buying antique paintings at auctions:
- Consider how much something else covering that space would cost — be it a framed poster or generic starving artist art.
- Spend as much as you are comfortable with; you’re going to have to live with it.