Selling a work of art, whether it was bought years ago or inherited, often means facing complex choices and conflicting advice. Before taking any step it is essential to understand the nature of the work and its real market value, because the choice of channel directly affects the timing, the costs and the confidentiality of the sale.

The three sales channels compared

  • Auction. The auction house places the work in a sale suited to its market, with an estimate and a reserve price agreed with the seller. The final price is set in the saleroom, openly and publicly, while timing depends on the auction calendar. Auction fees are paid by both buyer and seller: published results include the buyer's premium, while the seller receives the hammer price less the seller's fees and the agreed expenses (photography, insurance, catalogue). Bear in mind that an unsold lot also becomes public data, recorded by the market.
  • Gallery. A gallery that handles the artist may buy the work outright or take it on consignment and present it to its network of collectors. It is the most natural route for artists with an established gallery market, with prices and timing set in the agreements made.
  • Private sale. The work is offered in strict confidence to a selection of targeted buyers, through the private sales department of an auction house, a gallery or an independent advisor. The price is agreed between the parties and the whole transaction remains confidential.

The preliminary steps

Whatever the channel, the market expects rigorous standards. Taking care of the preliminary steps avoids delays and requests for price reductions during negotiation:

  1. Documentation: provenance, exhibition history, condition and any certificate or archive registration with the artist's archive or foundation.
  2. An independent valuation: before listening to offers it is worth obtaining an independent and impartial valuation, to check whether proposals are reasonable and to identify the most suitable channel. An auction house estimate, by contrast, serves the sales strategy that the house itself proposes.

A work that goes unsold at auction, or that is offered widely and without control to many buyers, risks being "burned": the market tends to distrust works that circulate for a long time without finding a buyer, and the chances of a future sale diminish.

As an art advisor I assist the client at every stage: from preparing the documentation to choosing the most suitable strategy and channel, from negotiating terms with auction houses or prospective buyers to settling the logistical and contractual steps.