ricobenfico
Junior Member
Posts • 3,174
Likes • 364
May 2008
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Advice Request: Entire Collection Valuation, by ricobenfico on Nov 22, 2023 19:20:00 GMT 1, Evening... Previously been an active member on here with a history and positive interactions, sales and purchases with quite a number of members....
I'm in a position where I need an independent valution of my collection with a view to a potential sale. Wide range of values and artists from emerging local ones up to Faile, Harland Miller, Xenz, Logan Hicks, Obey, Dan Witz etc.....
Where do I go, what do I do?
Any help and guidance appreciated. Thanks.
Evening... Previously been an active member on here with a history and positive interactions, sales and purchases with quite a number of members....
I'm in a position where I need an independent valution of my collection with a view to a potential sale. Wide range of values and artists from emerging local ones up to Faile, Harland Miller, Xenz, Logan Hicks, Obey, Dan Witz etc.....
Where do I go, what do I do?
Any help and guidance appreciated. Thanks.
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The Rat King
New Member
Posts • 673
Likes • 420
Member is Online
September 2016
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Advice Request: Entire Collection Valuation, by The Rat King on Nov 22, 2023 19:46:44 GMT 1, Surely no better place than here ?
Unless you have auction house work
Surely no better place than here ?
Unless you have auction house work
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Advice Request: Entire Collection Valuation, by Hey Brooklyn on Nov 23, 2023 4:10:03 GMT 1, Definitely don’t pay a third party to evaluate the work. You can easily do you own research with various sites. Artsy is good and free. Artnet and Mutual Art are best but come with a subscription.
Note that whatever the total price you see, those buyers paid a auction fee of 20-30 percent. So the total amount to the seller is that much less. For pieces such as yours you’ll likely have to pay a sellers fee (6-10%) of sale and a few additional % for anything above high end estimates. AND the seller pay capital gains tax on any profit.
So factor that into what you’d expect at auction. And it’s total worth.
Forums such as this are beautiful in the fact collectors buy for less and sellers sell without having to take on these expenses. Sellers get more. Buyers pay less. Win win.
But do us all a favor and put the fair, calculated price based on the info above into your listing. Along with all pertinent info. ( image not necessary, your call) Transparent pricing let’s the collective set the value. Weeds out the flippers and scammers and doesn’t force everyone to f’ing DM someone to have a dozen back and forths until finally getting an image of the work and sales price that is so high it’s obvious why the don’t want it on the listing.
Sorry to say you’re prob not sitting on much profit. Especially in this current market. Start with your least favorites and see how it goes. And enjoy the others. I hope you punched because the brought you joy. Living with good art is a blessing many don’t have.
Good luck.
Definitely don’t pay a third party to evaluate the work. You can easily do you own research with various sites. Artsy is good and free. Artnet and Mutual Art are best but come with a subscription.
Note that whatever the total price you see, those buyers paid a auction fee of 20-30 percent. So the total amount to the seller is that much less. For pieces such as yours you’ll likely have to pay a sellers fee (6-10%) of sale and a few additional % for anything above high end estimates. AND the seller pay capital gains tax on any profit.
So factor that into what you’d expect at auction. And it’s total worth.
Forums such as this are beautiful in the fact collectors buy for less and sellers sell without having to take on these expenses. Sellers get more. Buyers pay less. Win win.
But do us all a favor and put the fair, calculated price based on the info above into your listing. Along with all pertinent info. ( image not necessary, your call) Transparent pricing let’s the collective set the value. Weeds out the flippers and scammers and doesn’t force everyone to f’ing DM someone to have a dozen back and forths until finally getting an image of the work and sales price that is so high it’s obvious why the don’t want it on the listing.
Sorry to say you’re prob not sitting on much profit. Especially in this current market. Start with your least favorites and see how it goes. And enjoy the others. I hope you punched because the brought you joy. Living with good art is a blessing many don’t have.
Good luck.
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ricobenfico
Junior Member
Posts • 3,174
Likes • 364
May 2008
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Advice Request: Entire Collection Valuation, by ricobenfico on Nov 27, 2023 18:30:07 GMT 1, Thanks for the considered response.... Much appreciated. I've been through Artsy and taken a few notes. Any way to find what items went for in the auctions/'bidding closed'?
To answer a few DM's, the valuation purpose isn't just for insurance purposes. Could indeed lead to a sale. This forum could work indeed. Tate Ward is another consideration. Just need this first stage before then creating an open sales thread if/when we get to that point....
Anyone anything else to add? Thanks,
Thanks for the considered response.... Much appreciated. I've been through Artsy and taken a few notes. Any way to find what items went for in the auctions/'bidding closed'?
To answer a few DM's, the valuation purpose isn't just for insurance purposes. Could indeed lead to a sale. This forum could work indeed. Tate Ward is another consideration. Just need this first stage before then creating an open sales thread if/when we get to that point....
Anyone anything else to add? Thanks,
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kashi
New Member
Posts • 160
Likes • 138
April 2021
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Advice Request: Entire Collection Valuation, by kashi on Nov 30, 2023 18:20:04 GMT 1, Note that whatever the total price you see, those buyers paid a auction fee of 20-30 percent. So the total amount to the seller is that much less.
Usually the seller will agree a % commission fee with the auction house (usually plus insurance & anything else that they like to charge)
But .. the buyer pays ALL the 'buyer's fees'
actually means that the total price paid at auction was more than the hammer price by around a third .. which you might want to think about when agreeing a price privately (if someone quotes recent auction prices to you etc)
I think we may be teaching ricobenfico to suck eggs though. I know that name from a fair long time on here .. & I've been here a lot longer than my account suggests!
Note that whatever the total price you see, those buyers paid a auction fee of 20-30 percent. So the total amount to the seller is that much less. I think this is muddled, unless it works differently in different parts of the world. Usually the seller will agree a % commission fee with the auction house (usually plus insurance & anything else that they like to charge) But .. the buyer pays ALL the 'buyer's fees' actually means that the total price paid at auction was more than the hammer price by around a third .. which you might want to think about when agreeing a price privately (if someone quotes recent auction prices to you etc) I think we may be teaching ricobenfico to suck eggs though. I know that name from a fair long time on here .. & I've been here a lot longer than my account suggests! |
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Advice Request: Entire Collection Valuation, by Hey Brooklyn on Dec 1, 2023 9:55:42 GMT 1, Yes. Everything can be negotiated with the auction house. Depends on how desirable the work is. Ideally, if you’re sitting on some hot artists you’re shopping them around to multiple auctions to get the best deal. Waving of sellers fee, guarantees, shipping, use in the sales marketing, insurance and lot placement are all on the table. If we’re just talking about some prints or small originals…this forum or an Artnet.com sale is likely the best option. IMO Phillips is best for contemporary or ultra contemporary.
Yes. Everything can be negotiated with the auction house. Depends on how desirable the work is. Ideally, if you’re sitting on some hot artists you’re shopping them around to multiple auctions to get the best deal. Waving of sellers fee, guarantees, shipping, use in the sales marketing, insurance and lot placement are all on the table. If we’re just talking about some prints or small originals…this forum or an Artnet.com sale is likely the best option. IMO Phillips is best for contemporary or ultra contemporary.
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