​The first AI-authorized auction in Romania will take place on Friday, March 31 at 12:00 p.m. Artificial intelligence has risen to the forefront of the preferences of large international companies as a tool that meets business goals as well as the needs of today’s consumers, and the field of auctions is no exception.

Thus, the new type of auction launched by Casa de Licitatiati A10 By Artmark – Timed Online involves conducting auction events exclusively online, without the presence of an auction commissioner. The first auction to be held in a new format, automatically driven by the algorithm of the Artmark Live 2.0 platform, is the Historical Art Auction, including the Numismatic and Medallic Collection (Part II), which offers collectors and history enthusiasts a special selection of 165 authentic works. exhibits of museum value: rare books, old photographs, noble swords and weapons, special medals and plaques or old maps.

So, an AI auctioneer was created for this new type of format, programmed to perform several important tasks during the auction process. It was created to monitor the activities of the auction participants, check and confirm submitted bids, identify any violations of the auction rules, and ensure a transparent and fair auction for all participants. In addition, the new format allows auction participants to know in advance if there are counter offers for the lots they are interested in, given that the online catalog will display before the actual auction the current price achieved after collecting the previous – auction bids. If the participant’s offer is exceeded, he will be notified by e-mail with the opportunity to promptly change the offer.

The new Timed Online Auction will feature a lot consisting of two photographs depicting Queen Mary and her son-in-law, King Alexander I of the Kingdom of Yugoslavia. The photographs were given by Queen Mary to American businessman Baron Waldemar de Barkow. Both pieces, with a starting price of €1,500, are accompanied by the Queen’s holographic signature and a bezel with a royal crown. A notable presence is also the plaque “Score of the romance Steluța by Vasyl Oleksandri, Lăutarilor Români”. The brass piece, which has a starting price of just €100, includes the score for “Stars”, originally a poem by Basil Alexandri, later adapted by composer Dimitrie Florescu to become a popular piece in both times. History buffs and collectors also have access to the M1 American Military Helmet. The product, which dates back to World War II, when the US Army changed the helmets of its soldiers, has a starting price of 175 euros.

Until Friday, March 31, the historical works can be admired at the exhibition at Palatul Cesianu-Racoviță from 10:00 a.m. to 8:00 p.m., as well as online at artmark.ro. More information about the new limited-time online auction format and the rules that apply to this type of auction can be found here.

Two photos of Queen Mary and her son-in-law, King Alexander I of the Kingdom of Yugoslavia:

Article supported by A10 by Artmark