Art Gallery vs Art Auction

What’s the difference between buying art at an art gallery and purchasing art from an auction house?

There are many advantages to buying from an art gallery. You may be able to “test drive” the art before you buy. Galleries may let you take art home for a limited consignment. In addition, the gallery later might assist you in reselling the art.

Art auction houses are better for finding works of art that may not be currently available in an art gallery. Deals are usually good at art auctions but you run the risk of getting caught up in the auction action. Plus, you generally pay a 5 to 25 percent “buyer’s premium” at auction houses and that should to be figured into the final price of the artwork.