Question
What are some intelligent art resale options?

Answer
The answer depends largely on what type of art you’re looking to sell. If you have employed a competent art appraiser, ask for their recommendations.

In general, options include:

  • Art gallery or art broker with experience with your artist or type of artwork

Sign an agreement and file a UCC-1 form (Uniform Commercial Code) with the Secretary of State in the state where the gallery or broker is situated.

Gallery/ broker’s commission will range from 40%-50%, unless extremely high dollar artwork is sold, where it could be less.

  • Auction

Be careful to set a reserve (minimum price the artwork will sell).

Know that auctions selling less valuable art may not allow you to identify a minimum price.

Discover all related expenses such as catalogue fee, insurance, buy-in fee

(should it not sell), as well as their seller’s commission and buyer’s commission.

  • Consignment furniture store

Learn how the automatic price reductions are structured, for instance 20% reduction automatically every two weeks ?

  • Estate, garage, patio, yard sale

You might elect to accept only cash, as verification of funds over the weekend may interfere with your finding out in time that a check is not bankable.

  • Antique malls

Is your property insured against theft?

  • Craig’s List

Determine where you will meet with individuals interested in your property.

  • Etsy or Ebay store (fixed price, not auction)

Auctions fall into several major categories

  • International such as Sotheby’s, Christie’s, Bonham’s, Phillip’s
  • National such as Swann’s, Heritage Auctions, Skinner’s, Cowan’s
  • Specialty such as RG Munn, David Rago, John Moran, Treadway, Eldred’s, Noel Barrett, I.M. Chait, Jackson Hole Auction, Santa Fe Auction, Altermann’s
  • Online such as Ebay, LiveAuctioneers