General FAQs about using Paddle8. Can't find the answer for your question?

Introduction

What is Paddle8?

Paddle8 is a virtual auction house for fine art, with two types of auction platforms: benefit auctions, run in collaboration with non-profits, and Paddle8's own themed auctions.

What are the types of auctions that run on Paddle8?

Paddle8's themed auctions are a low cost, easy to use auction platform for buyers and sellers of fine art and collectibles. The auctions are curated along strong thematic lines with non-profits, publications, and cultural figures, and offer succinct cataloguing information including price records, artist and gallery details, and condition reports.

Paddle8's benefit auctions allow institutions to run their benefit auctions online, either in a fully virtual capacity, where they open and close for bidding on Paddle8, or by securing advance bids prior to a live event. Paddle8 partners with carefully selected non-profit organizations, museums, and foundations who have stellar reputations and artworks for sale. The works are often donated directly to our partners by renowned artists and are priced at fair estimates. Collectors can follow their favorite artists for future auction alerts and search across all auctions for specific artists.

How do I learn more about a current auction?

Email the auctions team at auctions@paddle8.com with any questions, or give us a call at (212) 343-1142

More About Themed Auctions

How do themed auctions work?

Paddle8's themed auction commission structure is significantly discounted from market standards. We offer the most competitive vendor's fees in the industry and only a 20% premium to buyers. Other costs, including shipping, insurance, and storage are minimized or eliminated by shipping artworks directly from sellers without intermediaries. This reduces costs for sellers and creates transparency and ease of purchase for buyers.

Paddle8 does not disclose sales records publicly, so consignors can offer works anonymously without the fear of "burning" works if unsold.

How do I sell my work in a Paddle8 themed auction?

To consign to an upcoming auction, please fill out the consignment form. Make sure to include images and all available information about the work.

Please note that the minimum value for individual lots that Paddle8 can accept on consignment is $2,000.

Property Estimate: Paddle8's specialist team will offer you an estimate free of charge. Please send a photograph of the property to consignments@paddle8.com and include the following information: size, medium, date, and provenance.

Sale date/theme: Our specialists will discuss with you the most suitable auction in which to offer your property. The virtual nature of our platform means works can be offered for sale with short notice.

Consignment terms: The vendor's commission starts at 20% for works $5,000 and below, 10% for works between $5,000 and $10,000, and 8% for works above $10,000.

Payment: After the auction, Paddle8 will notify the seller about the status of each lot offered for sale. Provided payment has been received by the buyer, we will pay net sale proceeds (the hammer price minus the vendor's commission and sale-related expenses) to the seller within 30 business days of payment being received.

When will I receive my shipment?

Our standard shipping timeline from payment for lot and shipping fees to delivery is 3 to 4 weeks for shipments within the continental United States or domestic UK; 6 to 8 weeks for all other shipments.

More About Benefit Auctions

How do benefit auctions work?

The platform offers an attractive opportunity for Paddle8's collectors to participate remotely in auctions taking place across the world, gaining access to valuable artworks while supporting non profit causes. Paddle8 offers Benefit Auction works often without a buyer's premium and with certain tax alleviations.

How do I partner with Paddle8 on a benefit auction?

Contact the Paddle8 Benefit Team for more information at benefit@paddle8.com

How Bidding Works on Paddle8

How do I place a bid?

Enter an amount: Enter any bid amount as long as it is greater than or equal to the amount noted below the bid field and click on "Place Bid". This will automatically place a straight bid at the next increment, and save any excess amount as a maximum bid. You will receive an email confirmation of your bid and will be notified by email when you are outbid. Bidding increments increase at the following intervals:

Below $200: $25
Between $200 and $699: $50
Between $700 and $1,999: $100
Between $2,000 and $4,999: $250
Between $5,000 and $9,999: $500
Between $10,000 and $19,999: $1,000
Between $20,000 and $49,999: $2,000
Between $50,000 and $99,999: $5,000
Between $100,000 and $499,999: $10,000
Between $500,000 and $999,999: $50,000
Above $1,000,000: $100,000

Absentee/ Maximum Bidding: When you enter an amount higher than the Minimum Bid, the system treats this amount as your Maximum Bid. Entering a Maximum Bid does not necessarily mean you will pay that price. You may pay less. As the auction proceeds, we compare your bid to those of other bidders. When you are outbid, the system automatically bids on your behalf according to the set bidding increments noted above, up to but never exceeding your Maximum Bid. We increase your bid by increments only as much as necessary to maintain your position as highest bidder. If your Maximum Bid is no longer valid based on the current bid and the next required bid you will receive an outbid notification email.

Check Out: Paddle8 offers collectors a seamless checkout process, with payment, insurance, shipping and installation options available using a simple checkout link.

In our themed auctions, winning bidders are charged a 20% Buyer's Premium on the hammer price, A summary of all charges is provided prior to confirmation of the transaction. The summary outlines the total price realized (Hammer Price + Buyer's Premium) along with any applicable taxes.

In our benefit auctions, checkout links may or may not be sent out by email directly by Paddle8 depending on the nature of the partnership with our benefit clients. Some benefit clients elect to process payments and arrange shipping directly with collectors.

Shipping: Buyers are responsible for all shipping charges. If you are the winning bidder upon the close of our auction you will either be contacted by the organization that held the auction or you will receive an email from Paddle8 directly prompting you to check out. Checking out allows you to pay for your artwork. You will also be presented with options and rates to arrange shipping.

Shipping options: For themed auctions and benefit auctions where Paddle8 handles the fulfillment, we offer two checkout options.

• Select one of our preferred fine art shipping partners to manage packing, collection and delivery door to door (and installation if you require). If you choose this option, your artwork and shipping costs are consolidated into one purchase.

• Coordinate off-line with Paddle8 to arrange Fed Ex shipping for a minimum fee, or arrange to pick up your artwork from the organization directly, if applicable.

Paddle8 also offers a blanket insurance policy.

Taxes: All sales with a final delivery address in New York State, Delaware, or California are subject to state sales tax. International shipments are subject to duty and tax as determined by the customs of the importing country. The purchaser will pay any fees directly upon receipt of your shipment.

Special Considerations

What's unique about bidding in a themed auction?

Lot Reserves: Unless otherwise indicated, all lots offered in Paddle8's Themed Auctions are subject to a reserve price. The reserve is the confidential minimum price agreed between the seller and Paddle8, below which the work cannot be sold. Bidders will receive a notification upon placing a bid, informing them whether their bid has reached the reserve.

What's unique about bidding in a benefit auction?

Bidding at the Live Event: Please note that if the auction moves to a live event (the auction page will specify this and the bidder will be notified in their bid confirmation email), the highest bidder on Paddle8 at the close of the online auction will be the opening bid at the event. If you have placed a Maximum Bid, this bid will be implemented at the event accordingly. You will be notified within 3 business days after the event if your bid is the final winning bid or if you have been outbid by someone at the event.

Paddle8 offers bidding support at events on a case-by-case basis. Please contact benefit@paddle8.com for details.