Damien Hirst's Hit Ebay, by Daniel Silk on Jun 2, 2008 12:16:34 GMT 1, blogs.guardian.co.uk/art/2008/05/buy_it_now_hirst_hits_ebay.html

Buy them now? Hirsts hit eBay

As two genuine Spin paintings sell online, does this mean the end of the traditional art auctioneer?

May 26, 2008 12:45 PM

Love it or hate it, you can't ignore eBay. But if you had an original painting by Damien Hirst going spare, would you sell it there? The issue has arisen because a couple of original Hirst Spin paintings have just been put up for sale on eBay by the charity War Child, an organisation set up in 1993 to help children in conflict zones.

War Child was given a group of the paintings by Hirst in 1995 charity to use as a bankroll when the need arose. He created them live at a fundraising event called Pagan Fun Wear, which was hosted by the Saatchi Gallery in London. They were small in scale, each approximately 9.5 x 15.5cm, and painted in acrylic or watercolour on paper. Now a funding crisis has hit and its directors hope to plug the gap with the proceeds from two of the paintings when the auction closes on May 28.

Last year the charity sold another of the group on eBay for £4,500. Not long after, in December, a similar example (same size, material and date) from a different source was sold for €25,000, just under £20,000 at current exchange rates, at an independent auction house in Paris called Piasa.

This price differential suggests the biggest audience is not necessarily the best. It also makes me wonder what the paintings would make if sold at Sotheby's or Christie's, with the dual benefits of unrivalled marketing expertise and peerless client lists. The disadvantage, of course, is their fees. Both houses are cagey about commission rates charged to sellers. They vary, depending on how confident the auctioneers are of selling high volume at top whack (in which case you will be charged less), although beneficial rates are sometimes offered to charitable organizations.

EBay, on the other hand, is cheap. It charges a nominal listing fee, which is discounted through the "eBay for Charity" scheme. You also need to consider charges to buyers. They are frightening at Sotheby's and Christie's, particularly for those buying at the "lower" end of the scale (meaning under £25,000). Though premiums drop as the price goes up, Sotheby's charge 25% on sales up to £25,000, while Christie's offer a marginally better deal at 25% up to £10,000. These costs put many people off. It's also much quicker to sell online than at a bricks-and-mortar auction house, where it takes months of preparation.

On the other hand, if the charity makes, say, £5000 per painting on eBay with nominal outgoings and £20,000 at Sotheby's or Christie's with charges of perhaps 10%, it would still raise far more money: £18,000 per painting. And, undemocratic as it may be, does it really matter to the charity if it's only wealthier individuals that get the goods?

In any case the tide maybe turning independent of all this, as the sale on eBay earlier this year of Banksy's authenticated graffiti painting on the wall of a house on Portobello Road for £208,100 would suggest. This could be down to the very nature of work by the likes of Hirst and Banksy. It's accessible: witty, graphic, bold and branded. All the qualities you need to sell online.