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(1/x) A thread on artist and collector preferences, the HOW and the WHY of buying and selling crypto art 
Some takeaways from our below polls...
Additional insights and experiences welcomed
Some takeaways from our below polls...
Additional insights and experiences welcomed
(2/x) TIMED AUCTIONS
Aggregate least favorite method. Why?
NFTs are global market, lining up time zones and daily schedules from an interested collector base to accommodate an auction close is near impossible
On the artist side, generally lower $ sales, high anxiety format
Aggregate least favorite method. Why?
NFTs are global market, lining up time zones and daily schedules from an interested collector base to accommodate an auction close is near impossible
On the artist side, generally lower $ sales, high anxiety format
(3/x) TIMED AUCTIONS cont.
On the collector side, nothing feels worse than to be "sniped" on a piece you love but couldn't be there for
Potential bidding war at close is upside // collectors may prefer to reserve auctions because they feel they can score a bargain
On the collector side, nothing feels worse than to be "sniped" on a piece you love but couldn't be there for
Potential bidding war at close is upside // collectors may prefer to reserve auctions because they feel they can score a bargain
(4/x) RESERVE AUCTIONS
Not much to be said here, safe option. Artists get the assurance of a floor price with the potential upside of bidding war
Artists lose on the open-market bidding history and identifying potentially interest collectors and building relationships
Not much to be said here, safe option. Artists get the assurance of a floor price with the potential upside of bidding war
Artists lose on the open-market bidding history and identifying potentially interest collectors and building relationships
(5/x) OPEN BIDDING
Favorite among both collectors and artists. Why?
Very fair and flexible method!
Builds permanent bid history on a piece with more collector participation. Allows artists to identify potential future collectors and other collectors can see who is interested
Favorite among both collectors and artists. Why?
Very fair and flexible method!
Builds permanent bid history on a piece with more collector participation. Allows artists to identify potential future collectors and other collectors can see who is interested
(6/x) OPEN BIDDING cont.
Complete control for artists to decide who their work goes to and to define a standard for closing the auction as bidding develops
Flexibility in being able to feed more information into the market such as reserve or editorial that may influence bids
Complete control for artists to decide who their work goes to and to define a standard for closing the auction as bidding develops
Flexibility in being able to feed more information into the market such as reserve or editorial that may influence bids
(7/x) PRIVATE/OFF-MARKET
Relatively rare and previous relationship is generally required
Often artist and collector do not see eye to eye on value, conversations around this can strain the relationship, negotiation also requires additional time compared to releasing to market
Relatively rare and previous relationship is generally required
Often artist and collector do not see eye to eye on value, conversations around this can strain the relationship, negotiation also requires additional time compared to releasing to market
(8/x) PRIVATE/OFF-MARKET cont.
However artists sometimes intend their works to be in certain hands
As a collector it can be flattering to know a piece was created for you or with your stewardship in mind
Allows longterm relationship and united story-telling i.e. @VolatilityArt
However artists sometimes intend their works to be in certain hands
As a collector it can be flattering to know a piece was created for you or with your stewardship in mind
Allows longterm relationship and united story-telling i.e. @VolatilityArt
