How Do I Sell My Art Collection?
Whatever your reason for selling all or part of your art collection in California, you recognize that it is a major undertaking and that you should proceed with caution.
Art collections are uniquely valuable, which makes ensuring that yours is appropriately insured critical.
If you are preparing to sell your art collection, consulting with a well-established luxury insurance provider near Roseville, CA should be your first order of business.
Get Your Collection Retail Ready
Before you consider selling your Art collection, it is very important that each piece be what is known as retail-ready. This involves listing all the following for each included work:
- All provenance documents
- The artist's name and signature
- The medium, materials, and dimensions
- A recent appraisal
Once you’ve gathered all the necessary information, you can explore your options regarding how to sell your collection.
Know Your Target Audience
Often, the surest means of identifying your target audience is by returning to the source where you purchased the majority of your pieces – if you are selling your collection as a whole – or to each work’s original source – if you are selling each piece separately.
Some sources may be interested in buying works back or in reselling specific works.
Additionally, your original sources may be able to offer valuable advice regarding potentially interested buyers.
No matter how you choose to go about selling your art collection, it’s important to establish the commission that the venue will keep in order to better understand your profit margin.
Consider an Auction House
Selling your collection via an auction house that specializes in invaluable artworks is an option. Sellers’ commissions typically range from 20 to 30 percent, but if you find an auction house that is willing to work closely with you and with whom you are comfortable proceeding, it can be an excellent choice – especially if you are interested in selling your collection as a whole.
Going with a Gallery
A gallery may be a better fit if you are looking for more control over the sale of each piece in your collection.
Finding a gallery that does a brisk business selling artwork like the pieces in your collection and that is willing to work with you in terms of pricing and how your work will be sold is key.
Some galleries purchase those pieces that they are interested in outright, and others display works until they are sold – at which point they take a commission.
An art advisor can help you find the right auction house or gallery for your collection.
Discuss Your Insurance Needs with an Experienced Fine Arts Insurance Provider Today
Your insurance needs as they relate to your art collection increase significantly when you are engaged in the selling process. As the risk of damage – during transportation or installation – and theft rises, it is important to make sure that your insurance coverage keeps us.
The fine art insurance professionals at FACE Insurance in Roseville, CA are committed to affording you the peace of mind that comes from having your uniquely valuable art collection well insured.
Contact us
To learn more, please don’t wait to contact us today.
