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The essence of Fischer’s Auction
In Fischer’s House in Ede, a family of notaries by the name of Fischer lived and worked from 1819 until 1946. Now, two centuries after the first notary Fischer set foot in his house, Kas Buunk introduces an auction method that once again centers around the role of the notary. The essence of Fischer’s Auction, the new auction mechanism for selling art, comes down to five main points:
1. Vickrey auction
Fischer’s Auction method can be summarized in one sentence: the highest bidder buys the artwork for the second-highest bid (plus 10% buyer’s premium).
2. Undisclosed bidding at an independent notary
To secure the integrity of the auction process, an independent notary, mr. S.P.P.M. Soons in Heteren, leads the auction. This is in stark contrast to regular auction houses, where the notary merely supervises the bidding process in the saleroom. Bidding can be done exclusively via notary Soons, and bidding information cannot be observed by Fischer’s Auction, nor by third parties. The notary guarantees that all rules and general conditions are complied.
3. Bonus for the second-highest bidder
As the highest bidder buys the artwork for the second-highest bid, the second-highest bidder is rewarded with a bonus of 5% of his bid. This bonus is handed out by Fischer’s Auction and is valid for a purchase in the collection of Simonis & Buunk.
4. No auction fever
This method makes no ‘use’ of human emotions as grudge and greed. Bidders do not publicly compete and so auction fever is dismissed. Fischer’s Auction method is the perfect match with the art gallery, at which clients are served in utter discretion.
5. Service and guarantees of the art dealer
To buy at Fischer’s Auction means to enjoy the quality and services of Simonis & Buunk: rigorous selection procedures for all artworks; a first-class frame, mostly by Gehring & Heijdenrijk; good condition and conservation; guarantee of authenticity; certificate of authenticity with the insurance value; the option to exchange a purchase; and a life-time of enjoying art.