Working with an Auction House: Overview of Firms Estate or - - PowerPoint PPT Presentation

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Working with an Auction House: Overview of Firms Estate or - - PowerPoint PPT Presentation

Mar 08, 2024 181 likes •701 views

What You Need to Know When Working with an Auction House: Overview of Firms Estate or Downsizing Situations Authentication Negotiating Determining value What Hots and Whats Not Other Resources Sothebys and

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What You Need to Know When Working with an Auction House:

  • Overview of Firms
  • Estate or Downsizing Situations
  • Authentication
  • Negotiating
  • Determining value
  • What Hot’s and What’s Not
  • Other Resources
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Sotheby’s and Christies

Sotheby’s: Founded in 1744 NYSE: BID Christies: Founded in 1766 Privately owned by Francois Pinault 2014 Combined Sales: $13.7 Billion 2015 Combined Sales: $12.5 Billion

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Middle Market

  • Doyle
  • Skinner
  • Freeman
  • Bonhams
  • Heritage
  • Rago
  • Leslie Hindman Auctioneers
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Lower Market

  • Estate Liquidators
  • Small Regional Auction Houses
  • Consignment Stores
  • Flea Market/Antique Malls
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When is an Auction House Needed?

  • During the Estate Planning Period
  • Avoid Family Disputes
  • Values are Subjective and Confusing
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Authenticity: is the artwork right?

  • Expert Opinion
  • Provenance
  • Catalogue Raisonne
  • Artist Estates and Foundations
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Marketing

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Online Marketing

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Commission

Seller’s Commission: 10 and 25% per item Buyer’s Premium: 25% per item

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The 3 D’s

Death, Divorce & Debt

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The 4 D’s

Death, Divorce, Debt & DOWNSIZING

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Negotiating with Auction Houses

  • Standard Fee vs. Flat Rate Commissions
  • Illustration & Marketing Fees
  • Insurance Fee
  • Packing & Shipping Fee
  • Buy-In Fee
  • Appraisal Fee
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Negotiating with Auction Houses

  • Advertising & Marketing
  • Traveling Exhibitions
  • Catalogue Placement
  • Auctioneer
  • Single-Owner Auction
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The Estate of Rita Dee Hassenfeld

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What’s Not Hot?

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Resources for Collectors

Artnet.com Askart.com BidSquare.com ArtDaily.org ArtInfo.com ArtMoniker.com Artloss.com ArtMarketResearch.com

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