An art auction is where people bid competitively to buy art. The reserve price is the secret minimum the seller will accept, and the hammer price is the final bid when the auctioneer says “sold!”. On top of that, the buyer pays an extra fee called a buyer’s premium. I read that Saffronart is a major Indian auction house specializing in modern and contemporary Indian art, often holding online auctions.
My view comes from my fine arts elective, yaar, where we virtually followed a Saffronart auction. But the obvious idea of it being glamorous feels off—for me, it was just a bunch of us students huddled around a single laptop in the college library, squinting at tiny images on a slow connection, more thrilling for the competition than the art itself.
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