A Reflection on Art Auction Life

By Lily Krakoff ‘25

 
 

Over J-Term, I was lucky enough to get a first-hand glimpse into the world of art auctions. As a prospective Art History major, I jumped at the opportunity to immerse myself in the art auction circuit and its market, two fields in which I have always held interest but little chance to explore in-depth. Art has an intriguingly broad set of social definitions and purposes, and auctions bring in another crucial idea — that art is an increasingly attractive asset within an incredibly diverse and rapidly-changing market. 


In a world in which many forms of art are exponentially digitized, it is important to examine the historical fundamentals. Therefore, I was particularly excited to work in an auction house’s Old Master Paintings department. My internship took place during the house’s yearly sale, executed after months of preparation and specifically tenacious work over the last few weeks, days, and hours leading up to the auction. It was fascinating to see all the work that goes on behind the scenes for the big day, like the buzz before opening night for a theatrical production. Intense research, marketing campaigns, and data analysis all help bring the sale to life. 


The array of art featured in the sale was impressive, spanning multiple centuries, artistic schools, and subject matters. I was happy to see that interest in female Old Master artists is rising in the market, as the art community has become increasingly aware of talented individuals who were often labeled outcasts in artist circles due to their gender. Nuanced works from women in a historically male field make for invigorating study. I am infinitely inspired by the works of Sandro Botticelli, Artemisia Gentileschi (a female Baroque painter, whose father Orazio painted before her), and Francisco Goya, among many others, so it was an unmatched experience to work so closely with their art in real life. Never had I seen and interacted with so many exciting and varied works in one room! 


Having had this experience, I certainly want to capitalize on the unmatched value of interacting with art — especially Old Masters — IRL. It’s truly so special to look closely at a work and take in its aura and presence within a physical space. When considering the historical reach of the work of art, viewing it feels as if one is inserting themselves into the work’s long and fruitful legacy. 


With the rise of digital artworks and the integration of art into online media, this legacy has the potential to diversify its participants. I was so impressed by the auction house’s incorporation of virtual live-streaming, videos, and other materials that respond to today’s demand for digital means for viewing and interacting with the art market. The house has a substantial social media presence, engaging a vast following spanning generations and backgrounds, all of whom share an appreciation for the craft. Perhaps the most interesting insight that I took away from this experience was how Old Masters (and their sales) are incredibly well integrated into the digital landscape of today’s art market. I walked away with a fresh perspective on the concept of modernity and adaptation when dealing with a category of works dating from approximately 1400 to 1850. Do not be fooled by their age –– Old Master paintings are all the more relevant today and a fascinating case study for the implementation of technology to promote and share classical art.