Art auctions are events where artworks are sold to the highest bidder. These auctions can take place in person at galleries or auction houses, or online through various platforms. Participants can bid on a range of items, including paintings, sculptures, and photographs, often from renowned artists like Pablo Picasso or Vincent van Gogh. Auction houses, such as Sotheby's and Christie's, typically organize these events and provide estimates on the value of each piece. Bidders must register beforehand and may need to pay a buyer's premium, which is an additional fee on top of the winning bid.