Are you looking to sell high value fine art? If so, you may wonder how much your art is worth. Fortunately there are many options, such as dealers, galleries and museums, that can identify, value, and sell your collection. If you have invested in fine art, but are now ready to part with it, read on to learn how to sell fine art.
Putting your masterpiece up for sale
The first step to selling your art is to get an appraisal if you haven’t already. After your appraisal is completed, collect the necessary documentation that will be used in the sale, including the provenance, artist’s name and images of the work. With the appropriate documents in hand, you now have several options to begin selling.
If you purchased your art through a gallery originally, then your art should go back through that gallery. Galleries work hard to manage sales for their artists, so that the market for their work does not destabilize. But a gallery’s main advantage is its familiarity with their artists’ collector bases and institutions interested in their work.
For new artwork, galleries will either buy the piece outright or display it on their walls until it is sold. In some instances a gallery will display a piece for a resale, in which you will retain ownership if your artwork does not sell.
Auctions houses give you access to a wide variety of buyers, both domestic and international. For example, masterpiece collectors of famous painters will often pay more at auction because of the scarcity of extremely rare works. If you’re working with an auction house, find one that is open to negotiating sale prices and confirm both transportation and storage requirements. And if your art is insured, make sure your policy information is up to date.
Still have questions about how to sell high value fine art? Call Heather James Fine Art Galleries and Consultancies. For over 25 years, we have brought exceptional art to private clients and museums globally, with added logistics and financial services.
Your next investment piece
It’s common for investors to expect a quick turnaround from their sale to re-investing in fine art. But because much of the art market relies on how strong demand is, selling fine art takes patience. However, despite the fluctuations and economic crises of late, art market resilience has been remarkably stable, which means there are opportunities for every investor.
