Ghasem Hajizadeh, from the poster series of the 10th Shiraz Arts Festival, 1976
Sealed-bid Auctions in the Art Market: From Sotheby's to the Shiraz Arts Festival Posters
In the art market, auction formats play a crucial role in shaping competition and price formation. Unlike conventional auctions, where bids increase through open competition, sealed-bid auctions require participants to submit a single confidential offer without knowledge of competing bids. This shifts the focus from real-time bidding dynamics to independent valuation. Historically and today, sealed-bid auctions have been used in the global art market as a strategic tool for managing confidentiality and sensitive transactions, including by major auction houses such as Sotheby's. Although less common in Iran, recent examples—such as the sale of the Tenth Shiraz Arts Festival poster collection through Smart Auction—suggest a growing role for this format in the trade of archival and specialized works.
9 June 2026
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Sealed-bid Auctions in the Art Market: From Sotheby's to the Shiraz Arts Festival Posters 9 June 2026
In the art market, auction formats play a crucial role in shaping competition and price formation. Unlike conventional auctions, where bids increase through open competition, sealed-bid auctions require participants to submit a single confidential offer without knowledge of competing bids. This shifts the focus from real-time bidding dynamics to independent valuation. Historically a...