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Advice on selling a valuable piece, by goingdownthedran on Nov 28, 2019 10:05:43 GMT 1, Hi everyone,
I would really appreciate advice from anyone who has ever sold a valuable Banksy piece. I am in discussions with a trusted art dealer (known to many of you I suspect, he used to work for Bonhams and is considered a Banksy expert) and close to making a sale of a beloved piece.
He suggests that the work is delivered to a local (to me) fine art gallery and stored there "under contract", while I wait for the money to be deposited into my account by the client. Only then would the gallery release the work to the the dealer.
This sounds like a sensible escrow-style process, does anyone have anything to add?
I have zero reason to expect there will be anything untoward about the sales process, but as there is a lot of money at stake, I want to be sure I handle it in the most secure manner possible.
Hi everyone,
I would really appreciate advice from anyone who has ever sold a valuable Banksy piece. I am in discussions with a trusted art dealer (known to many of you I suspect, he used to work for Bonhams and is considered a Banksy expert) and close to making a sale of a beloved piece.
He suggests that the work is delivered to a local (to me) fine art gallery and stored there "under contract", while I wait for the money to be deposited into my account by the client. Only then would the gallery release the work to the the dealer.
This sounds like a sensible escrow-style process, does anyone have anything to add?
I have zero reason to expect there will be anything untoward about the sales process, but as there is a lot of money at stake, I want to be sure I handle it in the most secure manner possible.
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Advice on selling a valuable piece, by Dexter Bulldog on Nov 28, 2019 12:27:28 GMT 1, Just sell it to me instead
Just sell it to me instead
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Advice on selling a valuable piece, by Daniel Silk on Nov 28, 2019 12:41:37 GMT 1, Sounds like a good idea, as long as the Gallery is known to you and well trusted.
Sounds like a good idea, as long as the Gallery is known to you and well trusted.
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Poster Bob
Junior Member
🗨️ 5,891
👍🏻 5,527
September 2013
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Advice on selling a valuable piece, by Poster Bob on Nov 28, 2019 13:53:33 GMT 1, Never let anything out of your hands until you have been paid.
Never let anything out of your hands until you have been paid.
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telecine
New Member
🗨️ 922
👍🏻 881
October 2008
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Advice on selling a valuable piece, by telecine on Nov 28, 2019 14:14:50 GMT 1, Never let anything out of your hands until you have been paid.
I second that !!!
Never let anything out of your hands until you have been paid. I second that !!! |
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Advice on selling a valuable piece, by The Italian One on Nov 28, 2019 14:29:54 GMT 1, Never let anything out of your hands until you have been paid. I second that !!!
Never let anything out of your hands until you have been paid. I second that !!! I third that |
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irl1
Full Member
🗨️ 9,274
👍🏻 9,381
December 2017
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Advice on selling a valuable piece, by irl1 on Nov 28, 2019 15:00:11 GMT 1, Pay your solicitor to do this for you if its a very large amount. Get him to write up a contract leave the art with him and when its paid hand it over.
I did this a few years back and all went smoother than a babies bum 
It might cost a few quid but you can sleep like a baby
Pay your solicitor to do this for you if its a very large amount. Get him to write up a contract leave the art with him and when its paid hand it over. I did this a few years back and all went smoother than a babies bum It might cost a few quid but you can sleep like a baby |
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axthelm
New Member
🗨️ 13
👍🏻 29
February 2018
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Advice on selling a valuable piece, by axthelm on Nov 28, 2019 15:26:30 GMT 1, Pay your solicitor to do this for you if its a very large amount. Get him to write up a contract leave the art with him and when its paid hand it over. I did this a few years back and all went smoother than a babies bum It might cost a few quid but you can sleep like a baby
Pay your solicitor to do this for you if its a very large amount. Get him to write up a contract leave the art with him and when its paid hand it over. I did this a few years back and all went smoother than a babies bum It might cost a few quid but you can sleep like a baby that is the way to go! |
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Advice on selling a valuable piece, by goingdownthedran on Dec 3, 2019 1:41:46 GMT 1, Thanks all. It is a scarily large amount so I will take the advice and either (as someone suggested in a PM) hand deliver the item myself, on receipt of payment, or go via a solicitor.
Thanks all. It is a scarily large amount so I will take the advice and either (as someone suggested in a PM) hand deliver the item myself, on receipt of payment, or go via a solicitor.
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cest
Junior Member
🗨️ 1,725
👍🏻 1,160
September 2018
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Advice on selling a valuable piece, by cest on Dec 3, 2019 2:34:22 GMT 1, I trust most large auction houses, especially when i have a contract i review that requires the house insure the piece for what i expect as the auction high
I trust most large auction houses, especially when i have a contract i review that requires the house insure the piece for what i expect as the auction high
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Poster Bob
Junior Member
🗨️ 5,891
👍🏻 5,527
September 2013
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Advice on selling a valuable piece, by Poster Bob on Dec 3, 2019 11:34:00 GMT 1, I trust most large auction houses, especially when i have a contract i review that requires the house insure the piece for what i expect as the auction high
I trust most large auction houses, especially when i have a contract i review that requires the house insure the piece for what i expect as the auction high Companies can fold. Look at everyone who was screwed over by Paddle8. |
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sfnyc
Junior Member
🗨️ 1,119
👍🏻 1,132
August 2017
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Advice on selling a valuable piece, by sfnyc on Dec 3, 2019 11:59:41 GMT 1, Use an art transport service than can do viewings of the piece
Use an art transport service than can do viewings of the piece
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Advice on selling a valuable piece, by Happy Shopper on Dec 3, 2019 12:24:19 GMT 1, With the powers of mobile banking, is there any reason you can't do the deal face to face, and transfer the money instantly?
I've done that with smaller amounts (up to a few thousand)... not sure if there's a limit??
With the powers of mobile banking, is there any reason you can't do the deal face to face, and transfer the money instantly?
I've done that with smaller amounts (up to a few thousand)... not sure if there's a limit??
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njr911
Junior Member
🗨️ 2,381
👍🏻 420
April 2007
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Advice on selling a valuable piece, by njr911 on Dec 3, 2019 13:03:01 GMT 1, I did this with a watch.
When the payment was held for a fraud check we both got very bored with Pret coffee.
The payment didn't hit my account for 6 hours!
It was a Speedmaster Ultraman for any WIS out there
I did this with a watch. When the payment was held for a fraud check we both got very bored with Pret coffee. The payment didn't hit my account for 6 hours! It was a Speedmaster Ultraman for any WIS out there |
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Poster Bob
Junior Member
🗨️ 5,891
👍🏻 5,527
September 2013
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Advice on selling a valuable piece, by Poster Bob on Dec 3, 2019 13:42:48 GMT 1, I did this with a watch. When the payment was held for a fraud check we both got very bored with Pret coffee. The payment didn't hit my account for 6 hours! It was a Speedmaster Ultraman for any WIS out there
I did this with a watch. When the payment was held for a fraud check we both got very bored with Pret coffee. The payment didn't hit my account for 6 hours! It was a Speedmaster Ultraman for any WIS out there Exactly. Don't believe anyone who says the payment is instantaneous. It always lead to awkward situations. |
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vacano
New Member
🗨️ 189
👍🏻 180
December 2011
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Advice on selling a valuable piece, by vacano on Dec 3, 2019 14:35:25 GMT 1, Avoid making large transactions at the end of the work week as there are less people on call if you need help from the banks etc.
Avoid making large transactions at the end of the work week as there are less people on call if you need help from the banks etc.
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Advice on selling a valuable piece, by withnail69 on Dec 13, 2019 15:41:49 GMT 1, Hi everyone, I would really appreciate advice from anyone who has ever sold a valuable Banksy piece. I am in discussions with a trusted art dealer (known to many of you I suspect, he used to work for Bonhams and is considered a Banksy expert) and close to making a sale of a beloved piece. He suggests that the work is delivered to a local (to me) fine art gallery and stored there "under contract", while I wait for the money to be deposited into my account by the client. Only then would the gallery release the work to the the dealer. This sounds like a sensible escrow-style process, does anyone have anything to add? I have zero reason to expect there will be anything untoward about the sales process, but as there is a lot of money at stake, I want to be sure I handle it in the most secure manner possible.
Hi everyone, I would really appreciate advice from anyone who has ever sold a valuable Banksy piece. I am in discussions with a trusted art dealer (known to many of you I suspect, he used to work for Bonhams and is considered a Banksy expert) and close to making a sale of a beloved piece. He suggests that the work is delivered to a local (to me) fine art gallery and stored there "under contract", while I wait for the money to be deposited into my account by the client. Only then would the gallery release the work to the the dealer. This sounds like a sensible escrow-style process, does anyone have anything to add? I have zero reason to expect there will be anything untoward about the sales process, but as there is a lot of money at stake, I want to be sure I handle it in the most secure manner possible. Hmm I wondering if this was the same person who contacted me with a similar very tempting huge offer for a print he knew I had from his time at bonhams.. |
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Advice on selling a valuable piece, by withnail69 on Dec 13, 2019 15:43:05 GMT 1, Thanks all. It is a scarily large amount so I will take the advice and either (as someone suggested in a PM) hand deliver the item myself, on receipt of payment, or go via a solicitor.
Thanks all. It is a scarily large amount so I will take the advice and either (as someone suggested in a PM) hand deliver the item myself, on receipt of payment, or go via a solicitor. Is it a 1/150 girl with balloon by any chance? |
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Advice on selling a valuable piece, by withnail69 on Dec 13, 2019 15:50:03 GMT 1, With the powers of mobile banking, is there any reason you can't do the deal face to face, and transfer the money instantly? I've done that with smaller amounts (up to a few thousand)... not sure if there's a limit??
With the powers of mobile banking, is there any reason you can't do the deal face to face, and transfer the money instantly? I've done that with smaller amounts (up to a few thousand)... not sure if there's a limit?? nah because the dealer wants his cut lol then the buyer would find out the actual price and not what he is paying for it lol £££££££ |
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dotdot
Junior Member
🗨️ 3,658
👍🏻 1,030
December 2006
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Advice on selling a valuable piece, by dotdot on Dec 13, 2019 20:15:02 GMT 1, fwiw,
Trust No one.
Do it yourself travel by taxi and if you need security hire them.
take chances , and the story won't be funny long term.
Admittedly you can keep the coa until you have payment - but .. there is a risk even there.
There have been too many stories here and there - covering who said what when - and the end result has been BAD too often.
Keep your head - and like a said - TRUST NO ONE , not even a "trusted" dealer.
stay cool and yeah have a good Christmas 
fwiw, Trust No one.Do it yourself travel by taxi and if you need security hire them. take chances , and the story won't be funny long term. Admittedly you can keep the coa until you have payment - but .. there is a risk even there. There have been too many stories here and there - covering who said what when - and the end result has been BAD too often. Keep your head - and like a said - TRUST NO ONE , not even a "trusted" dealer. stay cool and yeah have a good Christmas |
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Deleted
🗨️ 0
👍🏻
January 1970
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Advice on selling a valuable piece, by Deleted on Dec 13, 2019 21:08:52 GMT 1, All payments are instant now. Meet, let them check it, pay me! Leave
All payments are instant now. Meet, let them check it, pay me! Leave
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Poster Bob
Junior Member
🗨️ 5,891
👍🏻 5,527
September 2013
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Advice on selling a valuable piece, by Poster Bob on Dec 13, 2019 21:58:04 GMT 1, All payments are instant now. Meet, let them check it, pay me! Leave
All payments are instant now. Meet, let them check it, pay me! Leave NO, THEY ARE NOT. |
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Deleted
🗨️ 0
👍🏻
January 1970
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Advice on selling a valuable piece, by Deleted on Dec 13, 2019 21:59:42 GMT 1, All payments are instant now. Meet, let them check it, pay me! Leave NO, THEY ARE NOT.
I guess if you bank with the bank of bob maybe not but In the real world they are.
All payments are instant now. Meet, let them check it, pay me! Leave NO, THEY ARE NOT. I guess if you bank with the bank of bob maybe not but In the real world they are. |
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Dive Jedi
Junior Member
🗨️ 6,194
👍🏻 9,453
October 2015
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Advice on selling a valuable piece, by Dive Jedi on Dec 13, 2019 22:06:14 GMT 1, I guess if you bank with the bank of bob maybe not but In the real world they are.
showing me his screen telling me he paid I believe f#ck all.
I'm with Bob here.
Cash talks - buIIshit walks.
I guess if you bank with the bank of bob maybe not but In the real world they are. Well, call me old fashioned, but when some Slick Rick is in my home with his Apple 27 showing me his screen telling me he paid I believe f#ck all. I'm with Bob here. Cash talks - buIIshit walks. |
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blerd
Junior Member
🗨️ 1,350
👍🏻 1,203
November 2016
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Advice on selling a valuable piece, by blerd on Dec 13, 2019 22:13:49 GMT 1, I guess if you bank with the bank of bob maybe not but In the real world they are. Well, call me old fashioned, but when some Slick Rick is in my home with his Apple 27 showing me his screen telling me he paid I believe f#ck all. I'm with Bob here. Cash talks - buIIshit walks.
I guess if you bank with the bank of bob maybe not but In the real world they are. Well, call me old fashioned, but when some Slick Rick is in my home with his Apple 27 showing me his screen telling me he paid I believe f#ck all. I'm with Bob here. Cash talks - buIIshit walks. ladi...ladi...ladi dadi we like to party, we don't cause no trouble we don't bother nobody... |
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Deleted
🗨️ 0
👍🏻
January 1970
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Advice on selling a valuable piece, by Deleted on Dec 13, 2019 22:18:44 GMT 1, I guess if you bank with the bank of bob maybe not but In the real world they are. Well, call me old fashioned, but when some Slick Rick is in my home with his Apple 27 showing me his screen telling me he paid I believe f#ck all. I'm with Bob here. Cash talks - buIIshit walks.
There seems to be some confusion here..
I am presuming both parties are living in 2019 not 1979
I have online banking.. I have mobile app.. I am the future
I guess if you bank with the bank of bob maybe not but In the real world they are. Well, call me old fashioned, but when some Slick Rick is in my home with his Apple 27 showing me his screen telling me he paid I believe f#ck all. I'm with Bob here. Cash talks - buIIshit walks. There seems to be some confusion here.. I am presuming both parties are living in 2019 not 1979 I have online banking.. I have mobile app.. I am the future |
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.dappy
Full Member
🗨️ 9,841
👍🏻 9,462
December 2010
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Advice on selling a valuable piece, by .dappy on Dec 13, 2019 22:37:47 GMT 1, ... until the monies are cleared ... nothing is cleared ...
... until the monies are cleared ... nothing is cleared ...
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Advice on selling a valuable piece, by Terry Fuckwitt on Dec 13, 2019 22:40:32 GMT 1, Well, call me old fashioned, but when some Slick Rick is in my home with his Apple 27 showing me his screen telling me he paid I believe f#ck all. I'm with Bob here. Cash talks - buIIshit walks. There seems to be some confusion here.. I am presuming both parties are living in 2019 not 1979 I have online banking.. I have mobile app.. I am the future
I bought a car last year, phoned my bank day before to tell them I will be transferring x amount to same account I had already paid a deposit to. They said it could take 2-4 hours, but should be immediate. I waited 6 hours before funds were transfered.
Not all transfers are immediate.
Well, call me old fashioned, but when some Slick Rick is in my home with his Apple 27 showing me his screen telling me he paid I believe f#ck all. I'm with Bob here. Cash talks - buIIshit walks. There seems to be some confusion here.. I am presuming both parties are living in 2019 not 1979 I have online banking.. I have mobile app.. I am the future I bought a car last year, phoned my bank day before to tell them I will be transferring x amount to same account I had already paid a deposit to. They said it could take 2-4 hours, but should be immediate. I waited 6 hours before funds were transfered. Not all transfers are immediate. |
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Nordicstar
New Member
🗨️ 575
👍🏻 490
September 2018
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Advice on selling a valuable piece, by Nordicstar on Dec 13, 2019 22:56:44 GMT 1, Pay your solicitor to do this for you if its a very large amount. Get him to write up a contract leave the art with him and when its paid hand it over. I did this a few years back and all went smoother than a babies bum It might cost a few quid but you can sleep like a baby
Pay your solicitor.. what is this matrix? Cheesus I’m so old, I remember tags with shoe polish tubes.
Pay your solicitor to do this for you if its a very large amount. Get him to write up a contract leave the art with him and when its paid hand it over. I did this a few years back and all went smoother than a babies bum It might cost a few quid but you can sleep like a baby Pay your solicitor.. what is this matrix? Cheesus I’m so old, I remember tags with shoe polish tubes. |
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RoboJ
Artist
Junior Member
🗨️ 1,202
👍🏻 1,332
July 2015
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Advice on selling a valuable piece, by RoboJ on Dec 13, 2019 23:24:57 GMT 1, I had this buying from Bob. I even sent £1 before I arrived to make sure that was all ok but still it took hours to go through. We called the bank and they confirmed everything was ok but the money still wasn’t there. Fortunately it was all ok and legit but a decent fraudster would be able to pull a big bluff. If it’s house kind of money I would perhaps ask for a bankers draft?
I had this buying from Bob. I even sent £1 before I arrived to make sure that was all ok but still it took hours to go through. We called the bank and they confirmed everything was ok but the money still wasn’t there. Fortunately it was all ok and legit but a decent fraudster would be able to pull a big bluff. If it’s house kind of money I would perhaps ask for a bankers draft?
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