What is an auction?
An auction is a sale that is open to the general public, in which items are up for sale, and are sold at the highest price – i.e., the highest bidder.
Some of the participants come physically to the auction hall, some participate by phone, some send representatives or ask the auction house to represent them and in recent years many also participate "live" via the Internet.
Tiroche is an auction house that specializes in auctions in various art fields. Unlike the initial art market, where works are sold through galleries and where the process is not visible, the auction process is completely transparent to the general public and reliably reflects supply and demand for an artwork at a given time. An auction is a sale that is open to the general public, in which items are up for sale, and are sold at the highest price – i.e., the highest bidder. Some of the participants come physically to the auction hall, some participate by phone, some send representatives or ask the auction house to represent them and in recent years many also participate "live" via the Internet. Tiroche is an auction house that specializes in auctions in various art fields. Unlike the initial art market, where works are sold through galleries and where the process is not visible, the auction process is completely transparent to the general public and reliably reflects supply and demand for an artwork at a given time.
Some of the participants come physically to the auction hall, some participate by phone, some send representatives or ask the auction house to represent them and in recent years many also participate "live" via the Internet.
Tiroche is an auction house that specializes in auctions in various art fields. Unlike the initial art market, where works are sold through galleries and where the process is not visible, the auction process is completely transparent to the general public and reliably reflects supply and demand for an artwork at a given time. An auction is a sale that is open to the general public, in which items are up for sale, and are sold at the highest price – i.e., the highest bidder. Some of the participants come physically to the auction hall, some participate by phone, some send representatives or ask the auction house to represent them and in recent years many also participate "live" via the Internet. Tiroche is an auction house that specializes in auctions in various art fields. Unlike the initial art market, where works are sold through galleries and where the process is not visible, the auction process is completely transparent to the general public and reliably reflects supply and demand for an artwork at a given time.
What is the auction houses' role?
The more familiar role of the auction house is to bring buyers and sellers together and provide the conditions for making a deal between them.
But the auction house not only serves as an intermediary between sellers and buyers, but mainly serves as an expert body, evaluating, checking originality and giving certificates of authenticity, for an array of items.
Each item that arrives at the auction house is examined by a team of experts who conduct research on the item, check its authenticity, and set an appraisal price, in order to market and present it to potential buyers. The item is photographed and cataloged and appears in the auction catalog; which is printed and distributed to the customers of the auction house, which includes thousands of art collectors in Israel and around the world, as well as in the online catalog.
The auction house invests a lot of effort in advertising the auctions, in many marketing channels in order to get as much exposure as possible of the items on sale. Finally, the auction house gives a guarantee - to the seller, who will receive a monetary return, and to the buyer - a guarantee for the item they are buying and for the description that accompanies it in the catalog.
But the auction house not only serves as an intermediary between sellers and buyers, but mainly serves as an expert body, evaluating, checking originality and giving certificates of authenticity, for an array of items.
Each item that arrives at the auction house is examined by a team of experts who conduct research on the item, check its authenticity, and set an appraisal price, in order to market and present it to potential buyers. The item is photographed and cataloged and appears in the auction catalog; which is printed and distributed to the customers of the auction house, which includes thousands of art collectors in Israel and around the world, as well as in the online catalog.
The auction house invests a lot of effort in advertising the auctions, in many marketing channels in order to get as much exposure as possible of the items on sale. Finally, the auction house gives a guarantee - to the seller, who will receive a monetary return, and to the buyer - a guarantee for the item they are buying and for the description that accompanies it in the catalog.
How many auctions are held at Tiroche per year?
Tiroche auction house holds four auctions a year, two contain art works- mainly Israeli art, but also international art (mainly paintings) and two of antiques and artefacts such as: jewelry, Judaica, rugs, decorative art, silverware and more.
The art auction is divided into two parts (and is occurs over two days, one week apart) and the antiquities auction is divided into three parts (and is occurs over three consecutive days); each part / day of the auction includes between 250-400 items.
In addition, to the four major auctions, Tiroche also holds online auctions of Israeli and international art on a bi-weekly basis through the bidspirit website. Each online sale includes around 40 works of art.
The art auction is divided into two parts (and is occurs over two days, one week apart) and the antiquities auction is divided into three parts (and is occurs over three consecutive days); each part / day of the auction includes between 250-400 items.
In addition, to the four major auctions, Tiroche also holds online auctions of Israeli and international art on a bi-weekly basis through the bidspirit website. Each online sale includes around 40 works of art.
How is an auction conducted?
The conductor of the auction and the person responsible for its proper management (according to the rules) is the auctioneer. The role of the auctioneer is to present the items, receive the quotes for them in real time, as well as announce the sale of the item, which is accompanied by the hammer drop. Then they announce the hammer price and the number of the winning participant (highest bidder).
From the beginning of the auction until the end, the items go up for sale in running order, with the bidding on each item and its sale lasting on average a minute. The auction starts immediately after the auctioneer indicates the item number and presents it to the audience, and then the bids start pouring in.
There are fixed price increases / steps, but the participants can bounce the price and offer any price they want. A quote can be given by lifting the sign by the bidder sitting in the hall, or by a representative of the auction house who is on the phone with the potential buyer.
The fixed price increases / steps are:
Between $ 10 and $ 200 increments of $ 10
Between $ 200 and $ 500 increments of $ 20
Between $ 500 and $ 1,000 increments of $ 50
Between $ 1,000 and $ 2,000 increments of $ 100
Between $ 2,000 and $ 5,000 increments of $ 200
Between $ 5,000 and $ 10,000 increments of $ 500
Between $ 10,000 and $ 20,000 increments of $ 1,000
Between $ 20,000 and $ 50,000 increments of$ 2,000
Between $ 50,000 and $ 100,000 increments of $ 5,000
Between $ 100,000 and $ 200,000 increments of $ 10,000
From the beginning of the auction until the end, the items go up for sale in running order, with the bidding on each item and its sale lasting on average a minute. The auction starts immediately after the auctioneer indicates the item number and presents it to the audience, and then the bids start pouring in.
There are fixed price increases / steps, but the participants can bounce the price and offer any price they want. A quote can be given by lifting the sign by the bidder sitting in the hall, or by a representative of the auction house who is on the phone with the potential buyer.
The fixed price increases / steps are:
Between $ 10 and $ 200 increments of $ 10
Between $ 200 and $ 500 increments of $ 20
Between $ 500 and $ 1,000 increments of $ 50
Between $ 1,000 and $ 2,000 increments of $ 100
Between $ 2,000 and $ 5,000 increments of $ 200
Between $ 5,000 and $ 10,000 increments of $ 500
Between $ 10,000 and $ 20,000 increments of $ 1,000
Between $ 20,000 and $ 50,000 increments of$ 2,000
Between $ 50,000 and $ 100,000 increments of $ 5,000
Between $ 100,000 and $ 200,000 increments of $ 10,000
What is the estimated price/ appraisal, and how is it determined?
The estimated price is the price range (e.g., $ 400-600) that accompanies each item up for auction and represents its market value.
Each item that arrives at the auction house is inspected by a team of experts who research the item, check its authenticity, and set an appraisal price, in order to market and present it to potential buyers. The appraisal the auction house gives the item is based on research, experience and professional knowledge, based on past results of similar items at previous auctions.
But established as it may be, an appraisal is still only an appraisal - meaning no one, not even the greatest expert - can know how much an item will be sold in the sale. The selling price of an item in real time is subject to the influence of many factors and is unpredictable.
Tiroche has a record of countless cases where items have been sold for thousands and even tens of thousands of dollars above the appraised price. This is because at an auction, the demand for an item, in real time- and only it - determines its price / value in the art market.
Each item that arrives at the auction house is inspected by a team of experts who research the item, check its authenticity, and set an appraisal price, in order to market and present it to potential buyers. The appraisal the auction house gives the item is based on research, experience and professional knowledge, based on past results of similar items at previous auctions.
But established as it may be, an appraisal is still only an appraisal - meaning no one, not even the greatest expert - can know how much an item will be sold in the sale. The selling price of an item in real time is subject to the influence of many factors and is unpredictable.
Tiroche has a record of countless cases where items have been sold for thousands and even tens of thousands of dollars above the appraised price. This is because at an auction, the demand for an item, in real time- and only it - determines its price / value in the art market.
What is the minimum price?
The minimum price is the lowest price at which the seller agrees to sell the item.
This price is determined by the auction house in cooperation with the seller of the item and its purpose is to protect the seller. It does so by ensuring that the item put up for sale will not be sold at "any price", but for the minimum price.
In the event that an item does not reach the minimum price, i.e., the bids received for it do not exceed the minimum price, it is not sold and is returned to the seller - without any charge.
What is the starting price?
The starting price is the price at which the sale on the item begins. This price is similar to the minimum price but not necessarily the same.
The starting price may be lower than the minimum price (but in no case will the item be sold below the minimum price set in conjunction with the seller).
What is the hammer price?
Hammer price is the price at which the item is sold at auction. This price does not include the sales commission (paid by the seller), or the buying commission (paid by the buyer) of the auction house, which is added or deducted from the hammer price.
The origin of the name hammer price, drives form the auction itself. When the auctioneer lowers the hammer and knocks it on the table, they affectively end the sale on the specific item, and it's sold for the highest bid received. The buyer of the item pays the price of the hammer plus the commission fixed in the terms of sale while the seller receives the price of the hammer less the seller's commission.
The origin of the name hammer price, drives form the auction itself. When the auctioneer lowers the hammer and knocks it on the table, they affectively end the sale on the specific item, and it's sold for the highest bid received. The buyer of the item pays the price of the hammer plus the commission fixed in the terms of sale while the seller receives the price of the hammer less the seller's commission.
Is it possible to see items before the auction?
Yes.
Approximately ten days before the auction, Tiroche auction house holds a display of all the items up for sale in the auction house itself (located at 35 Khavatselet Ha-Sharon St. (De Shalit Square), Hertzelia Pituach).
The exhibition is open to the public all days of the week and is free of charge; when the times and hours are published and updated on Tiroche's website. We strongly recommend anyone interested in an item/s to come to the auction house, in order to view and be impressed by the item/s directly.
Approximately ten days before the auction, Tiroche auction house holds a display of all the items up for sale in the auction house itself (located at 35 Khavatselet Ha-Sharon St. (De Shalit Square), Hertzelia Pituach).
The exhibition is open to the public all days of the week and is free of charge; when the times and hours are published and updated on Tiroche's website. We strongly recommend anyone interested in an item/s to come to the auction house, in order to view and be impressed by the item/s directly.
How to participate in an auction?
There are several ways to participate in Tiroche's auctions:
1. Physical participation at the time of the auction. This participation involves physically arriving at the auction hall, taking a sign with a number (used as the identification card of the participant in the auction) and raising the sign in the air whenever they want to participate / raise the price.
2. Participation by leaving a bid / pre-quote in advance. This is done by filling out a pre-quote form stating the number of the selected item and the maximum price (in US dollars) that you are willing to pay (not including the buyer's fee), and a representative from Tiroche will represent you at the time of auction, while raising the price only if necessary (up to the maximum bid you gave).
3. Participation by telephone at the time of the sale. Here you need to indicate in the pre-quote form the number of the item in which you are interested in participating via telephone, as well as two telephone numbers in which you will be available during the sale. A representative from Tiroche will contact you a few minutes before the desired item goes on auction, and will offer the price for you according to your instructions in real time.
4. Participation by phone + leaving a quote in advance. A combination of participation on the phone + a pre-quote in advance. A representative from Tiroche will contact you a few minutes before the desired item goes on auction, and will offer the price for you according to your instructions in real time. The price is only to the extent required (up to the maximum price you gave).
5. Self-participation in real-time auctions via the Internet from your computer. The auction is filmed and broadcast live on three platforms / websites on the Internet:
1. Bidspirit website. 2. LiveAuctioneers website. 3. Invaluable site.
Internet participation involves pre-registering on one of these sites. Please note that some sites charge a fee for participating through them.
In each of the forms of participation you have chosen, make sure that you have received confirmation from the auction house, that your application has indeed been accepted and approved.
1. Physical participation at the time of the auction. This participation involves physically arriving at the auction hall, taking a sign with a number (used as the identification card of the participant in the auction) and raising the sign in the air whenever they want to participate / raise the price.
2. Participation by leaving a bid / pre-quote in advance. This is done by filling out a pre-quote form stating the number of the selected item and the maximum price (in US dollars) that you are willing to pay (not including the buyer's fee), and a representative from Tiroche will represent you at the time of auction, while raising the price only if necessary (up to the maximum bid you gave).
3. Participation by telephone at the time of the sale. Here you need to indicate in the pre-quote form the number of the item in which you are interested in participating via telephone, as well as two telephone numbers in which you will be available during the sale. A representative from Tiroche will contact you a few minutes before the desired item goes on auction, and will offer the price for you according to your instructions in real time.
4. Participation by phone + leaving a quote in advance. A combination of participation on the phone + a pre-quote in advance. A representative from Tiroche will contact you a few minutes before the desired item goes on auction, and will offer the price for you according to your instructions in real time. The price is only to the extent required (up to the maximum price you gave).
5. Self-participation in real-time auctions via the Internet from your computer. The auction is filmed and broadcast live on three platforms / websites on the Internet:
1. Bidspirit website. 2. LiveAuctioneers website. 3. Invaluable site.
Internet participation involves pre-registering on one of these sites. Please note that some sites charge a fee for participating through them.
In each of the forms of participation you have chosen, make sure that you have received confirmation from the auction house, that your application has indeed been accepted and approved.
How do I know if the bid I left is the highest bid given?
If your bid was the highest, it means you were able to purchase the item/s you requested. After the auction ends a representative of the auction house will contact you by phone or email within 72 hours of the sale (at the latest). In addition, the results of the auction are updated on Tiroche's website immediately after the end of the auction and you can see the results there or contact the auction house by phone or email.
Where does the auction take place?
The auction takes place physically in the Tiroche auction hall, located at 35 Khavatselet Ha-Sharon St. (De Shalit Square), Hertzelia Pituach and is also broadcast live on three platforms / websites on the Internet:
1. Bidspirit website.
2. LiveAuctioneers website.
3. Invaluable site.
These sites allow viewing and participating in auctions through the Internet.
What happens if an item is not sold?
An item that is not sold at auction is up for sale within a period of 21 days after the auction at the minimum price (plus commission). That means within 21 days of the auction, all unsold items are still up for sale at their minimum prices.
An unsold item will be returned at the end of 21 days to the seller without any charge.
What happens if I purchased an item and regret it?
Buying an item at auction is binding and cannot be canceled. Buyers may check the condition of the items, their size, origin and additional information before the auction itself, during the display period.
However, if Tiroche provided incorrect information, and it was proved that there was indeed an error in the information provided regarding the item, the buyer may contact Tiroche within 21 days from the date of the auction, and Tiroche will refund the buyer the amount paid against returning the item.
However, if Tiroche provided incorrect information, and it was proved that there was indeed an error in the information provided regarding the item, the buyer may contact Tiroche within 21 days from the date of the auction, and Tiroche will refund the buyer the amount paid against returning the item.
How can I pay for an item I purchased at auction?
Full payment for item/s will be made immediately at the end of the auction and no later than 4 business days from the date of receipt of the buyer's offer.
You can pay in cash, in personal checks, by bank transfer or by credit card.
Payment by credit card involves a credit card fee of 2.5% (on top of the hammer price, commission and VAT).
Payment in shekels for an item with a nominal value in US dollars will be calculated according to the exchange rate (high cash exchange rate) of the US dollar published by Bank Leumi Israel Ltd. at the time of payment, but will not be less than on the day of auction.
Any delay in payment will result in a charge of arrears interest on the amount owed at a rate of 2% per month plus the linkage differences to the US dollar exchange rate from the date on which it is due to be paid until the actual payment date.
Payment in shekels for an item with a nominal value in US dollars will be calculated according to the exchange rate (high cash exchange rate) of the US dollar published by Bank Leumi Israel Ltd. at the time of payment, but will not be less than on the day of auction.
Any delay in payment will result in a charge of arrears interest on the amount owed at a rate of 2% per month plus the linkage differences to the US dollar exchange rate from the date on which it is due to be paid until the actual payment date.
When and how do I receive the items, I purchased?
After full payment for the item, you can pick it up from the auction house.
We at Tiroche will take care of packing it for you in the best way and if necessary, we will help carry it to the car.
You can also receive the item/s directly to your home, a service that involves additional payment (which varies depending on the shipping address and item type).
You can also receive the item/s directly to your home, a service that involves additional payment (which varies depending on the shipping address and item type).
What do I do if I have an item I want to sell?
If you have an item/s that you would like to sell, you are welcome to contact us at 09-9509893, by email: art@tiroche.co.il or in the WhatsUp app by phone: 050-5719933.
Indicate the information you know regarding the item/s such as dimensions, weight, artist, year, provenance, when and where was it purchased? And attach photos of the item/s. If it is a painting, it is advisable to send a photo of the signature (sometimes on the back of the painting).
A Tiroche representative will contact you by email or phone for further treatment.
When and how do I get paid for the item I sold?
Payment for sale of items is received within 30 days from the date of sale. Payment can be received by check or bank transfer and at your request you can also receive part of the payment in cash.