This is a detailed guide to assist someone who wishes to sell an artwork from their collection to the secondary market. From evaluation to preparation, it will guide you through all the necessary steps to prep an artwork for being sold and then depending on your preference marketed at an auction house, online marketplaces, private sales, along with contacting local galleries.
Evaluating an Artwork
Listing your artwork for sale requires assessing the current market price of the artist and their artworks. When pricing your piece it’s crucial to establish a precise value determined through research. Services are available to provide a professional valuation such as, Artprice, Mutualart… A good practice could also be getting in touch with the gallery or art studio from which you bought the artwork from and ask an updated quotation of the piece. Most importantly make sure to study the market yourself, checking what other artworks of the artist are currently available on the market and at what price.
Preparing for Resale
Whether you choose an auction or a private marketplace, proper preparation is key. Ensure you have all necessary documentation, including acquisition papers, certificates of authenticity, and any relevant paperwork. Assessing the condition of the artwork is vital; note any imperfections as they may affect the value. Remember to consider the edition size of the piece, as this can influence its market value. If you are missing any document or its been lost, get in contact with whoever is issuing certification for the artist’s creations, whether it be the art studio, foundation or expert responsible.
Presenting Artwork
Ensure that you capture high-quality photographs, ideally professionally shot, that accurately represent the artwork. These images are crucial as they provide potential buyers with their first impression of the piece. Photograph the artwork under good lighting and from multiple angles to highlight its details and overall condition. There are many video tutorials on how photographing art should be done. Make sure to point out damages if there any, no matter how miniscule.
Artwork Listing
Create a compelling description for your listing. Focus on the unique attributes of the artwork, its provenance, and any other details that might interest a buyer. Look online if you find any official curatorial text about the artwork you are placing on the market. Quote some sentence from the artist’s catalogue and mention if the work has been inserted in a certain publication.
Shipping and Handling
When a sale is made, it is imperative to ship the artwork safely. Pack the artwork with the same level of care it was received in. It’s recommended to let a professional art handler and courier deal with the shipping and handling. In the event of taking this upon yourself, use high quality packing materials and consider double-boxing or packaging in wooden crates to protect the piece during transit. Include handling instructions to ensure careful transportation is advised. It is essential to insure the artwork and provide tracking information, allowing for both buyer and seller to monitor the shipment’s progress.
Selling the Artwork
Each of the paragraphs above are designed to help you successfully market and prepare your artwork, securing a beneficial sale for your artwork. Now let’s dive into the details of the some of the most profitable selling options that are recommended:
Option 01: Auction Houses.
If you decide to opt for an auction, contact the auction house a good amount of months in advance. Appraisal times can vary, and many major auction houses offer complimentary appraisal services. This preliminary step is necessary for a successful sale. Don’t just look for the most common auction houses, sometimes even your local auction house can be interested to resell your art. Christies, Sotheby’s, Heritage, Wannanes, Setdart, Cambi, Doyle… these could be a great starting point, but make sure to find more yourself through an extensive research.
Option 02: Galleries and Dealers.
For private sales, you can consign your artwork to a gallery or art dealer. These professionals can either find a buyer or opt to purchase the artwork directly from you to resell. This arrangement can provide a more secure transaction, as each of these routes offers unique benefits and considerations. Choosing the right path depends on your personal circumstances and the specific artwork. A good practice is to first see if any gallery is selling your artist’s art already, and if they are interested in acquiring the piece in your collection. Get in touch with galleries and dealers via email or even their social media. Contact your local galleries too, that could help you with dealing with the difficult delivery process and high packaging standards.
Option 03: E-commerce’s.
Consider listing your artwork on reputable online marketplaces known for art sales such as Artsy, Saatchi Art, Artsper, or ArtBrokerage. These platforms cater to a wide audience of art collectors and enthusiasts. However, do not undervalue the possibility of listing your artwork on more general mark places such us Ebay, Gumtree, Etsy, Subito, Craigslist. You will be surprised to find out that most art is still resold through these platforms.
Option 04: Private Sale.
Ask around to your friends, extended family, work colleagues and art lovers, if they may be interested in collecting the artwork from you. Sometimes the solution is closer than you think. Art collectors are all around, but not always visible.
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With this comprehensive guide and curated options, you are well-equipped to navigate the complexities of the secondary art market. During this whole process it is recommended to have patience, don’t rush a sale, as generally artworks only take a few moments before a new collector falls in love and acquires it. Seize this opportunity to find the ideal new home for your artwork, ensuring both a rewarding sale and the continued legacy of your cherished piece.