44th ANNIVERSARY FUNDRAISER + ART AUCTION
This fall VAE is excited to present an intimate fundraiser at Junction West!!!
• more details to come •
VAE is excited to announce the return of our annual art auction and fundraiser! As we incubate the year before our 45th anniversary (2025) we invite you to join us in celebrating VAE's past, present, and future with us this fall!
During the pandemic the auction primarily served as a source of artist relief. This year we have restructured the auction to more mutually benefit our artistic community, as well as VAE and the work that we do. We believe that this split still favors providing direct support to artists but also helps to ensure that VAE can continue to produce cutting edge projects that reflect our community and its needs.
CALL FOR AUCTION ART
Application Opens: Friday, May 31, 2024
Application Closes: Sunday, June 30, 2024 at 11:59PM
Notification Date: Late July, 2024
Participating artists will receive 70% of the proceeds from the sale of their auction art (with the option to donate 50% of, or all of the proceeds to VAE if they choose). We are limiting the number of works in the auction so that we can give each piece ample attention and ensure we get the best price for each artist.
Artists will receive 70% of the proceeds from the sale of their work with no fees deducted. The 70/30 split is VAE’s standard commission. During the pandemic the auction primarily served as a source of artist relief. This year we have shifted the percentages to more mutually benefit our artistic community, as well as VAE and the work that we do. We believe that this split still favors providing direct support to artists but also helps to ensure that VAE can continue to produce cutting edge projects that reflect our community and its needs.
Eligibility: Any artist who has exhibited with VAE, received a Snapdragon Grant, or donated artwork to VAE’s annual gala since January 2020 is eligible to participate in the 2024 auction. VAE only accepts original artworks directly from the artist. No reproductions please. Eligible artists are invited to submit only one of their own original works of art.
The deadline for submission is Sunday, June 30, 2024, at 11:59 PM.
Entries will be juried by VAE’s staff. All artists will be notified of their application status by late July. Additional information will be provided in this email.
Artists are encouraged to set their minimum bids at an accessible starting price. Based on VAE’s 40+ years of art auction experience, works that have too high of a starting bid tend to get less or no bids. We have seen works with starting bids of $25 sell for over $2,000, while works with starting bids of $300 get no bids at all. A rule of thumb that we recommend following is setting the minimum bid at 10% of the retail price of the work.
This year we will be implementing reserve prices. Work will not sell unless the reserve price is met to ensure that, at a minimum, artists are able to recoup expenses related to creating the work. The reserve price is 50% of the retail value of the work.
“Buy It Now” prices for all artwork are set at 150% of the retail prices listed on the registration form.
Artwork will not be listed as available for purchase until it is physically in VAE’s possession. A preview of the work will be on exhibition during the month of September, details TBA.
You will be able to preview the works online and in-person. Online bidding will begin two weeks before the event date.
Artist commission checks will be mailed by mid-October.
QUESTIONS? Contact Ant Lobo-Ladd: ant@vaeraleigh.org or 919.828.7834 (please leave a message).