Anybody here in experienced in buying or selling art?

[GirlRaisedInTheSouth]

Hi Mumsnet Fam, I need some advice please. Times are hard and I am having to sell the only thing I own, a painting that is worth some money. I don’t have any experience in selling art so I am hoping that someone here can give me some advice.

I have an offer of £10k from a gallery, which I accepted. However, I’ve just seen that they have my painting listed on their website for £37,500!

Is it normal for a gallery to take such a big cut? Would really appreciate some advice. Thanks.

Get lots of valuations.

Do not accept the first one.

Do not sign anything

@DecemberSnow, I have, but all the valuations have been low because they want a bargain. Every person who has valued it has wanted to buy it.

Have you already sold it to the gallery?

@Seeingadistance No I haven’t, although we’ve agreed a price.

If you want to get an idea of how much your painting is worth, you could see how much paintings by the same artist fetch at auction. Auction prices will be lower than those quoted by galleries, but that is because galleries do add a large mark-up.

If you can get a reasonable idea, without having to ask valuers directly, what your painting is worth, then that should put you in a stronger position to negotiate a good price.

Most Auction Houses let you see sold prices on-line, and you can search by the artist’s name.

One went at auction for 13k. Which is a lot closer to what I’ve been offered but nowhere near what the gallery are selling it for.

You can sell it at auction yourself. Speak to one of the bigger auction houses in your nearest city and see what they say. I’d love to see the painting!

@AP I think I would be too nervous to do that.

It’s a contemporary piece by a very well-known artist.

How can it be listed on their site if you haven't sold it to them yet?

An auction house is the way to go, as it’s in their interests to get the best price. Just set a reserve you’re happy with.

I’m not the kind of person who deals with auctioneers, but I had what I thought might be a first edition Lion, Witch & Wardrobe. I took it to a well known book auction house, and found it really easy. Yes it was a first edition. Did I want to sell it now, or wait for several months for a specialist children’s book auction, which they suggested would probably get the best price. It sold over estimate, and I got a check through the post - no effort at all on my part.

Er.. that’s cheque. As in cancel the....

@Puta, indeed .

I’ve just checked on Sotheby’s website and they have sold a few other works by this artist. I could call them I guess, but I’m worried they’re gonna be really snooty .

Just ring Sotheby’s. Does it matter if they are a little snooty, if you get a better price?

I’d 100% ring Sotheby’s

You can get an estimate from Sothebys by submitting some details via their website.

All sorts of people buy and sell art - young, old, rich, poor!
If you have a good painting, then Sothebys will be interested.
I’d contact Christies, too. Or Drewetts.

Take some pictures and send them to the auction houses initially. They can then contact you back.

Auction houses will want to get the highest price because they take a percentage cut in the first place.

Do NOT sell it to the gallery, although if you’ve already signed any documents, you may have to check the small print. I do hope you haven’t!

They won’t be smooth, if anything the opposite. Auction houses are the art equivalent of second hand car dealerships, just manned by Tobys and Lucindas rather than Garys and Chantelles. All they care about is their not inconsiderable commissions. You do need to check these as they could easily reduce 13k to 10k, in which case you might as well sell it to the gallery.

The problem with art is the buying and selling prices are miles apart. Personally I think that you might do better negotiating with the gallery. You could either say they can have it outright for £13k or, that, if they secure a sale at £37,500, you want half of it.

Snooty, not smooth! They definitely will be smooth...

Please call Sothebys - they will be helpful. Just dont phone the day of an auction (as I did by mistake one time!). They will need images.

But I am so sorry you are in this position. Do you want to keep a copy of the image or was the painting itself sentimental for you?

@spongedog Thanks. Yes, it’s extremely sentimental. As well as being the only thing of value I own. I am hoping to get a copy to put in its place.

Ask for Arabella in Sothebys.

If you feel nervous about speaking with people over the phone try writing what you want to say before you phone them.

I think you can send Sothebys details of your stuff online?