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Banksy valuation and selling at Sotheby’s? Experiences?, by artmonster on Jan 28, 2022 13:58:33 GMT 1, Hello.
Looking for experiences and advice more than anything…
I have a few signed limited edition prints of Banksy. The last year has been challenging and I am planning to sell one (Signed Golf Sale, With COA) to get rid of the mortgage and have a bit less stress in my life.
I have never used an auction house before, but decided to get a valuation from Sotheby’s which came back today and it’s really low.
what is your experience with Sotheby’s, that still made you go for it, although the estimate was low? What do you regret? Or would you go elsewhere all together?
Any advice welcome, leave bitchiness at the door though…
Hello.
Looking for experiences and advice more than anything…
I have a few signed limited edition prints of Banksy. The last year has been challenging and I am planning to sell one (Signed Golf Sale, With COA) to get rid of the mortgage and have a bit less stress in my life.
I have never used an auction house before, but decided to get a valuation from Sotheby’s which came back today and it’s really low.
what is your experience with Sotheby’s, that still made you go for it, although the estimate was low? What do you regret? Or would you go elsewhere all together?
Any advice welcome, leave bitchiness at the door though…
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Sundowner
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Banksy valuation and selling at Sotheby’s? Experiences?, by Sundowner on Jan 28, 2022 14:15:22 GMT 1, Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve.....
Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve.....
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Banksy valuation and selling at Sotheby’s? Experiences?, by artmonster on Jan 28, 2022 14:20:03 GMT 1, Thank you, Sundowner
Main benefits I am after: painless sale (no dropping out, faffing around, etc) with good results.
I suppose Sotheby’s:
1. Lures in more buyers with low estimates
2. Manages expectations with sellers if the result that day isn’t great
Have you sold with Christie’s before?
Thank you, Sundowner
Main benefits I am after: painless sale (no dropping out, faffing around, etc) with good results.
I suppose Sotheby’s:
1. Lures in more buyers with low estimates
2. Manages expectations with sellers if the result that day isn’t great
Have you sold with Christie’s before?
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avec art
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Banksy valuation and selling at Sotheby’s? Experiences?, by avec art on Jan 28, 2022 14:21:15 GMT 1, exorbitant fee's and unexpected charges
exorbitant fee's and unexpected charges
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Banksy valuation and selling at Sotheby’s? Experiences?, by artmonster on Jan 28, 2022 14:24:05 GMT 1, Regarding the fees and charges…I was under the impression these were negotiable…and therefore could be minimised
Regarding the fees and charges…I was under the impression these were negotiable…and therefore could be minimised
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avec art
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Banksy valuation and selling at Sotheby’s? Experiences?, by avec art on Jan 28, 2022 15:07:31 GMT 1, perhaps if you regularly do business with them, and frequently contribute to their auctions there might be some leeway, but in reality the fees are the fees. Conversations about this have been had on here many times. Photography fees, catalogue listing, possible framing / un-framing charge, reserve costs, all sorts and that's before you get to the post sale commissions. I think you'd be astonished.
What you say about the advantages are all valid, but there's a price you pay for that. You're not talking about an original piece or a GWRB, I'm sorry to say they don't need you, I don't expect you get to call the shots. If I'm wrong then that's would only be good for you. I'm not an expert so if someone thinks otherwise they ought to say.
perhaps if you regularly do business with them, and frequently contribute to their auctions there might be some leeway, but in reality the fees are the fees. Conversations about this have been had on here many times. Photography fees, catalogue listing, possible framing / un-framing charge, reserve costs, all sorts and that's before you get to the post sale commissions. I think you'd be astonished.
What you say about the advantages are all valid, but there's a price you pay for that. You're not talking about an original piece or a GWRB, I'm sorry to say they don't need you, I don't expect you get to call the shots. If I'm wrong then that's would only be good for you. I'm not an expert so if someone thinks otherwise they ought to say.
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Banksy valuation and selling at Sotheby’s? Experiences?, by artmonster on Jan 28, 2022 15:15:02 GMT 1, Thanks for that, artcave, some of those weren’t even on my radar, so really the kind of feedback I was looking for
Thanks for that, artcave, some of those weren’t even on my radar, so really the kind of feedback I was looking for
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Sundowner
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Banksy valuation and selling at Sotheby’s? Experiences?, by Sundowner on Jan 28, 2022 15:29:22 GMT 1, Most fees are negotiable to a certain degree but artcave is right in that the auction house holds all the cards unless it's a piece they really want you to consign.
Most fees are negotiable to a certain degree but artcave is right in that the auction house holds all the cards unless it's a piece they really want you to consign.
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tonys
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Banksy valuation and selling at Sotheby’s? Experiences?, by tonys on Jan 28, 2022 16:30:07 GMT 1, Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve.....
Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve..... As the seller, don't you get to set the reverse price? Mmmmm |
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Banksy valuation and selling at Sotheby’s? Experiences?, by Lunch Special on Jan 28, 2022 16:41:03 GMT 1, Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve..... As the seller, don't you get to set the reverse price? Mmmmm
People base the reserve off the last known highest recorded sale. Most ambitious I might say. Lol. High reserves scare away potential buyers. Low reserves in a Banksy auction is like a bait and switch type tactic. Think about it. WE ALL KNOW THERE IS NO BANKSY PRINT EVEN UNSIGNED IS EVER SEEING A HAMMER AT £1200 UNLESS ITS WATER DAMAGED RIPPED TORN TAPED AND LICKED BACK TOGETHER. THE £5 BOOK FAIR PRINT AS WELL AS SOUP CANS BOTH LITHIS SELL FOR WELL OVER £1000 {0_0}
I just don’t understand how anyone would say what amount should I sell my golf sale print for auction but I’m scared it might not flip for that much…. Ha ha ha i question your possible perfect or / imperfect timing as the lunar new year is about to begin….. You Know.
Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve..... As the seller, don't you get to set the reverse price? Mmmmm People base the reserve off the last known highest recorded sale. Most ambitious I might say. Lol. High reserves scare away potential buyers. Low reserves in a Banksy auction is like a bait and switch type tactic. Think about it. WE ALL KNOW THERE IS NO BANKSY PRINT EVEN UNSIGNED IS EVER SEEING A HAMMER AT £1200 UNLESS ITS WATER DAMAGED RIPPED TORN TAPED AND LICKED BACK TOGETHER. THE £5 BOOK FAIR PRINT AS WELL AS SOUP CANS BOTH LITHIS SELL FOR WELL OVER £1000 {0_0} I just don’t understand how anyone would say what amount should I sell my golf sale print for auction but I’m scared it might not flip for that much…. Ha ha ha i question your possible perfect or / imperfect timing as the lunar new year is about to begin….. You Know. |
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tonys
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Banksy valuation and selling at Sotheby’s? Experiences?, by tonys on Jan 28, 2022 17:26:11 GMT 1, But reserves are never made public, only the estimates
But reserves are never made public, only the estimates
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Sundowner
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Banksy valuation and selling at Sotheby’s? Experiences?, by Sundowner on Jan 31, 2022 13:44:50 GMT 1, Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve..... As the seller, don't you get to set the reverse price? Mmmmm
Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve..... As the seller, don't you get to set the reverse price? Mmmmm You do, but the auction house will steer you and clearly if there is a delta around the low-end estimate and the reserve price the seller wants to achieve there may be a challenge. |
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Banksy valuation and selling at Sotheby’s? Experiences?, by Minecrafter on Feb 1, 2022 18:47:23 GMT 1, Well, Sotheby's only checks the COA when consigning a Banksy.
You could literally keep the original and replace it with one that doesn't even look like any other piece from the same year.
(Robbie Williams is selling a 2006 girl with balloon that's completely different to the shredded one that was meant to be 2006)
Well, Sotheby's only checks the COA when consigning a Banksy.
You could literally keep the original and replace it with one that doesn't even look like any other piece from the same year.
(Robbie Williams is selling a 2006 girl with balloon that's completely different to the shredded one that was meant to be 2006)
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Banksy valuation and selling at Sotheby’s? Experiences?, by Minecrafter on Feb 1, 2022 21:01:12 GMT 1, Well, Sotheby's only checks the COA when consigning a Banksy. You could literally keep the original and replace it with one that doesn't even look like any other piece from the same year. (Robbie Williams is selling a 2006 girl with balloon that's completely different to the shredded one that was meant to be 2006) Why different ?
Well, Sotheby's only checks the COA when consigning a Banksy. You could literally keep the original and replace it with one that doesn't even look like any other piece from the same year. (Robbie Williams is selling a 2006 girl with balloon that's completely different to the shredded one that was meant to be 2006) Why different ? |
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Banksy valuation and selling at Sotheby’s? Experiences?, by Bret "The Hitman" Hart on Feb 1, 2022 21:36:10 GMT 1, Hi Jamie 👋
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Banksy valuation and selling at Sotheby’s? Experiences?, by Minecrafter on Feb 1, 2022 21:42:35 GMT 1,
Thanks for the bump,
but I actually work for the artnewspaper , so try again "Bret".
But really kind of you to create an account just to answer me.
Thanks for the bump, but I actually work for the artnewspaper , so try again "Bret". But really kind of you to create an account just to answer me. |
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JFCC
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Banksy valuation and selling at Sotheby’s? Experiences?, by JFCC on Feb 2, 2022 10:50:52 GMT 1, I am really at a loss with all this, what utter drivel.
Firstly the post is about Sotheby's who are an excellent auction house to deal with and will listen to a discount on the sellers premium and reserve setting but as another comment said this is more likely if the piece is special, you have a good track record with them or you are selling a collection.
They, like all the Auction Houses (bar perhaps one who has been lambasted on this site for sale fakes) do a thorough and complete job on provenance and like all auction houses have a "special" relationship with Pest Control to get COAs and prove the validity of Banksy work before it is catalogued.
The point about the creation of certain images is just noise and the items owned by Robbie Williams are exactly as described, there is provenance to support when he acquired them and their year of production
This clown, which as been posting pages of nonsense under another name, is obviously back on his crusade about Love in the bin. The basic facts are that absolutely nobody on this board or in the art world agree with him, are interested in or cares. We all get the Love is in the Bin story and understand the theatre of the piece. I truly wish he would stop posting this meaningless noise and hikjacking posts.
I am really at a loss with all this, what utter drivel.
Firstly the post is about Sotheby's who are an excellent auction house to deal with and will listen to a discount on the sellers premium and reserve setting but as another comment said this is more likely if the piece is special, you have a good track record with them or you are selling a collection.
They, like all the Auction Houses (bar perhaps one who has been lambasted on this site for sale fakes) do a thorough and complete job on provenance and like all auction houses have a "special" relationship with Pest Control to get COAs and prove the validity of Banksy work before it is catalogued.
The point about the creation of certain images is just noise and the items owned by Robbie Williams are exactly as described, there is provenance to support when he acquired them and their year of production
This clown, which as been posting pages of nonsense under another name, is obviously back on his crusade about Love in the bin. The basic facts are that absolutely nobody on this board or in the art world agree with him, are interested in or cares. We all get the Love is in the Bin story and understand the theatre of the piece. I truly wish he would stop posting this meaningless noise and hikjacking posts.
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Banksy valuation and selling at Sotheby’s? Experiences?, by withnail69 on Apr 27, 2022 11:59:07 GMT 1, Sorry not having this.. Having dealt with Sothebys and Christies and bonhams over banksy sales.. I've found them all utterly unprofessional... Bonhams was probably the best.. Christies and Sothebys can literally drop comms for up to a month before getting back to you.. I rarely see either advertise their sales anymore. I actually walked into sothebys in December as I was working round the corner.... Someone came down to talk to me. Said we should email about consignment. I said sure whats your email address. She said no you give me yours.... She emailed me 6 weeks later...
Sothebys would be best place to sale.. Assuming you may have just sold in their sale this week.. Prices do seem to be dropping on some of the prints yet others are sky high (check the rat radar price)!
Sorry not having this.. Having dealt with Sothebys and Christies and bonhams over banksy sales.. I've found them all utterly unprofessional... Bonhams was probably the best.. Christies and Sothebys can literally drop comms for up to a month before getting back to you.. I rarely see either advertise their sales anymore. I actually walked into sothebys in December as I was working round the corner.... Someone came down to talk to me. Said we should email about consignment. I said sure whats your email address. She said no you give me yours.... She emailed me 6 weeks later...
Sothebys would be best place to sale.. Assuming you may have just sold in their sale this week.. Prices do seem to be dropping on some of the prints yet others are sky high (check the rat radar price)!
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Banksy valuation and selling at Sotheby’s? Experiences?, by withnail69 on Apr 27, 2022 11:59:50 GMT 1, exorbitant fee's and unexpected charges
exorbitant fee's and unexpected charges wasn't the case at all for me with christies |
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Banksy valuation and selling at Sotheby’s? Experiences?, by withnail69 on Apr 27, 2022 12:01:07 GMT 1, But reserves are never made public, only the estimates
But reserves are never made public, only the estimates I think the reserve is the low estimate but I could be wrong |
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Banksy valuation and selling at Sotheby’s? Experiences?, by withnail69 on Apr 27, 2022 12:02:35 GMT 1, Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve..... As the seller, don't you get to set the reverse price? Mmmmm
Sotheby's tend to price (and set reserves) low but often get better results as they attract more bidders. Christies may be a better bet if you want a higher reserve..... As the seller, don't you get to set the reverse price? Mmmmm they "strongly advise" the reserve price.. I guess you could argue the toss. |
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JFCC
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Banksy valuation and selling at Sotheby’s? Experiences?, by JFCC on Apr 27, 2022 13:56:05 GMT 1, Generally you find the reserve is 1 or 2 bids above the bottom of the estimate range. The theory is set the estimates and reserve low to stimulate bidding. Once its showing as passed reserve the theory is that bidders are more likely to bid as there is a real chance of getting it. However, they also encourage you to set low estimates and accept lower reserve prices than you may want so that there are fewer passes and more sinisterly to get a bonus for exceeding the reserve.
I totally agree you can debate the reserve with them and although they will push back, if you stand your ground, unless you have an insane value in mind, they will accept it. After all they want your piece in their auction and the associated fees. I have never heard of an auction house rejecting a piece because the seller has argued about the reserve.
Looking at Sothebys Banksy sale and the estimates were woefully low and here I think this worked against them this time as the final prices were unimpressive.
Generally you find the reserve is 1 or 2 bids above the bottom of the estimate range. The theory is set the estimates and reserve low to stimulate bidding. Once its showing as passed reserve the theory is that bidders are more likely to bid as there is a real chance of getting it. However, they also encourage you to set low estimates and accept lower reserve prices than you may want so that there are fewer passes and more sinisterly to get a bonus for exceeding the reserve.
I totally agree you can debate the reserve with them and although they will push back, if you stand your ground, unless you have an insane value in mind, they will accept it. After all they want your piece in their auction and the associated fees. I have never heard of an auction house rejecting a piece because the seller has argued about the reserve.
Looking at Sothebys Banksy sale and the estimates were woefully low and here I think this worked against them this time as the final prices were unimpressive.
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Banksy valuation and selling at Sotheby’s? Experiences?, by withnail69 on Apr 27, 2022 14:27:10 GMT 1, Generally you find the reserve is 1 or 2 bids above the bottom of the estimate range. The theory is set the estimates and reserve low to stimulate bidding. Once its showing as passed reserve the theory is that bidders are more likely to bid as there is a real chance of getting it. However, they also encourage you to set low estimates and accept lower reserve prices than you may want so that there are fewer passes and more sinisterly to get a bonus for exceeding the reserve. I totally agree you can debate the reserve with them and although they will push back, if you stand your ground, unless you have an insane value in mind, they will accept it. After all they want your piece in their auction and the associated fees. I have never heard of an auction house rejecting a piece because the seller has argued about the reserve. Looking at Sothebys Banksy sale and the estimates were woefully low and here I think this worked against them this time as the final prices were unimpressive.
Generally you find the reserve is 1 or 2 bids above the bottom of the estimate range. The theory is set the estimates and reserve low to stimulate bidding. Once its showing as passed reserve the theory is that bidders are more likely to bid as there is a real chance of getting it. However, they also encourage you to set low estimates and accept lower reserve prices than you may want so that there are fewer passes and more sinisterly to get a bonus for exceeding the reserve. I totally agree you can debate the reserve with them and although they will push back, if you stand your ground, unless you have an insane value in mind, they will accept it. After all they want your piece in their auction and the associated fees. I have never heard of an auction house rejecting a piece because the seller has argued about the reserve. Looking at Sothebys Banksy sale and the estimates were woefully low and here I think this worked against them this time as the final prices were unimpressive. I think you are right... Not sure what the cause is... Interests have deffo shifted to some of his other less famous prints.. Not sure if thats affordability or what but I can't say it loud enough atm... hodl for a very long time or SELL SELL SELL asap... |
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