Dorotheum Castle is located in Vienna and is famous for its auctions, which have been held there since 1707. These auctions have been mentioned in official documents since that year. The auction house Dorotheum organizes the auction in other cities of Austria and even abroad, for example in Prague. More than six hundred such auctions are held every year. However, Dorotheum Castle is the site of the most significant bidding. Thanks to the castle’s surroundings, the auctions have a unique entourage and excellent historical decorations. The main auction weeks take place four times a year and are a very important event for collectors from all over the world. These collectors come to Vienna to purchase unique exemplars of rare items. Trades are conducted in such categories as 19th-century art, modern art, watches, furniture, jewelry, porcelain and glass, sculpture, drawings, painting of the 15th-18th centuries.
Experts determine the price of lots but the initial price is lower. If buyers do not show great demand, there is a chance to buy the right thing for a reasonable amount of money. Nevertheless, the opposite is often the case, where several potential buyers long to outbid, raising prices to incredibly high levels. This is sometimes the case because the item being sold has rare artistic qualities or exceptional value as a collector’s item.
The trades at Dorotheum Castle have the distinctive feature of using a bell to denote the fact of sale. The sound of a bell in this case is analogous to a hammer in all other auctions.