Have you ever wondered what happens at an art auction?

Auction houses are businesses that sell art and other valuable items. 

Auction houses sell art for people who want to sell works from their collections.

During an auction, people place bids (offer a specific amount of money) on the items that are for sale. The highest bidder wins.

Auction houses, like Sotheby’s and Christie’s, hold live auctions, like the one shown above, as well as online auctions.

Before an auction, anyone can view the art that will be for sale in a gallery at the auction house. 

In movies, auctioneers—those who run auctions—talk really fast. But in reality, most speak at a normal speed.

Salvator Mundi, believed to be by Renaissance artist Leonardo da Vinci, is the most expensive artwork ever sold at an auction. It sold in November 2017 for $450,312,500.