The latest issue of the Christie’s International Real Estate magazine looks at how selling your art at auction works. Lift the veil on the process with the easy step-by-step guide below.
First Things First
Do your research. Figure out if now’s the best time to sell your piece. You can check how the artist is selling on sites like the Artnet’s Price Database. When you’re ready to move forward, it’s time to give Christie’s a call.
Will they take it?
You’re ready for Christie’s to sell your piece, but is Christie’s ready? Through either an in-person meeting or via photos, the experts will determine if Christie’s can sell the piece for the price you expect.
Setting the Stage
Christie’s is confident your piece will sell. Now it’s time to determine how you want that to happen. There are three avenues:
- In the salesroom – as part of a public auction in Christie’s calendar.
- Private auction – sells outside auction calendar
- Online auction – to attract online buyers and millennials.
While considering your options, check out Christie’s calendar to see if an upcoming public auction is right for you.
Before the Bids
Your art must get to Christie’s. You can arrange for delivery or Christie’s can help. Once at the auction house, it will be photographed and catalogued. The experts determine the interest in the piece and work with you to set a reserve price before the sale.
You won’t want to miss this! Enjoy the rush of the auction in-person or via Christie’s LIVE remote streaming.
After the sale, Christie’s gives you the final sales price and your net proceeds after commission is accounted for. Then it’s payday. Payment from the buyer usually arrives in your account 35 days after the auction.
Want to read more about Christie’s auction houses and real estate affiliates? Pick up a copy of the latest magazine at one of our LandVest offices.
Interested in learning more? Email us at email@example.com.
Give us an idea of what you are interested in selling so we can connect you with the right specialist.