Six Steps to Selling Your Asian Art

Why Need Appraisal for Sale

For sale, you may not need an appraisal. Having an art work of modest value appraised by a professional is a waste, since quality professional services are not cheap. You can find the needed information for free, if you have the ability to conduct some online searches. Thanks to the high-technology and the diligent work of many professionals, important sales databases are all available in the public domain. If you have the basic computer skill, you should be able to manage the research on some price references relevant to your property. If you need some guidance on identification and dating, consulting a qualified art professional (museum curator or art professor) for free advice is wise. If such assistance is not available, then pay a modest fee for a Preview by Dr. Wei Yang (Ph.D. in Chinese art, M.A. in Asian Art, Accredited Senior Appraiser of Asian Art & Appraisal Review and Management) is an alternative. Dr. Yang's comments on your art work should assist you with your reseach. However, if you have an art works of quality and value, and you have limited knowledge about Chinese art and art market, an appraisal might be helpful.

Selling a fine work of art without knowing what you have is difficult, unless you possess some knowledge of the art market. To begin with, inspiring works of Chinese art have an aesthetic quality and a history that are difficult even for Ph.D.’s to appreciate and explain. In addition, the art market is mysterious, difficult to learn about, and subject to significant fluctuation. You can’t just look up the previous sales records for the object you wish to sell or buy. Unfortunately, important pieces of knowledge and information are usually not available online.

A professional art appraisal report equips you with the confidence of an insider. It provides you with the crucial information about your art work you need to know in working with an auction house or dealer. Many owners are overwhelmed by dealers or auction agents who do not take the time to explain unfamiliar terminology from the worlds of Chinese aesthetics and modern art sales. A knowledgeable owner, educated about the object as well as how objects like it have fared on the market, stands a much better chance of profit when negotiating from a position of strength.

An art appraisal prepared by a qualified art appraiser prepares you to achieve your goals with clear strategies. Many people assume that an auction house will always offer the best value for their objects, but that is often not true. You need to consider (and understand) an adjusted value estimate, the calculation of insurance costs, commission schedules, buy-back fees, and other extra charges typically subtracted from the hammer price of an auction sale. A professional art appraisal alerts you to possible issues relevant to your art work and helps you think creatively about other options, such as a tax-deductible charitable donation and a private sale.

Six Steps to Selling Your Artwork

Step 1: Assess the quality of your art work prior to sell. Starting with a Preview will cut down your cost for professional services.

Step 2: Commission an appraisal if needed. If you need professional guidance, engaging the services of a qualified art appraiser is wise. By knowing your options and financial obligations, you obtain only the needed information at the minimum cost. A customized art appraisal report or a consulting report will help you, the owner of a Chinese art object, understand what you have, and its market potential or some marketing strategies. Information included in the appraisal report will equip you with the knowledge of an insider when you approach agents, auction houses, and potential buyers.

Step 3: Hire a sales agent to arrage a private sale. If you prefer a private sale but don't want to deal directly with potential buyers, hiring a sales agent is the solution. A sales agent's representation usually begins after you sign an agreement with the party. Your sales agent will find you possible buyers, suitable venues for sale and different marketing options. Once you approves his marketing strategies, your agent will exercise on your behalf and sell your art work with full strength, ranging from contacting art dealers, locating potential buyers to negotiating terms or sales price.

Step 4: Consign your Chinese art work to auction house. If you prefere an auction sales venue, you will act as your own sales agent by contacting auction houses directly. Once your art work is accepted for sale, you can follow the auction agent's instructions and sign a consignment agreement.

Step 5: Insure your artwork for transportation. If your art work is of highest quality and extremely desirable, the interested party will arrange the transportation, even pay for it. However, in most cases, you will ship the art work to the auction house at your cost and under your insurance. After the art work arrives at the auction house, your property will be insured by the auction house by agreement.

Step 6: Receive payment. If your art work is sold, 1) you will receive payment from the auction house in 30- 40 days after the scheduled sale; 2) you will get paid prior to release the art work to the buyer in a form you prefer. The final payment usually excludes the sales agent's commissions.

Motivation, Persistence, and Patience

Motivation, persistence and patience sell art. Sometimes, the sale of your art work may delay for many reasons. For example, a misidentification of the artwork by an auction house or your sales agent will certainly delay the sale, or confuse the market. Sometimes, the delay in payment is also possible. To be efficient, you may consider only working with reputable agents of integrity and competence, since your agent's limited experience, knowledge and expertise will burn your art work before getting it sold. You should not be discouraged if any auction house you contact expresses no interest. Their rejection does not mean that your objects are worthless.

Selling your Chinese art objects is not as hard as it sounds. Clear vision of quality, valule and market plus some professional guidance will sell art work in the competitive art market.

If you need some professional assistance, please Contact Us.