I wonder why owners chose to sell a family art collection or piece at a gallery vs at auction. Maybe it's the same reasons you listed for purchasers. The art owner may have a relationship with the gallery, or not want the work possibly underpriced at auction and would rather just get it back. In other works, how do galleries get to represent an artist's estate? Is it more or less prestigous to auction off work at Sotheby's vs a NY or a London gallery?
Also, about buying, galleries are showing "new work" by contemporary artists. This must appeal to some buyers and collectors. Auctions are selling "old work". To buyers, this requires more judgement and may intimidate to some who don't know enough to be sure this is a "good" example of an artists work.
Great question. The reason for not consigning works at an auction house is that it would be a gamble to offer everything in a single sale—in effect "flooding" the market. Some works would inevitably be "passed", which is a temporary kiss of death.
Auction house reputation might add some value as"provenance," because just like blue chip galleries, high-end auction houses are selective in what they take on consignment. Investment-minded buyers are more inclined to buy at auction in part for this reason. A work of art being sold by Bonhams, Christies, Sotheby's, Philips de Pury et al., are seen as having been given a seal of approval, and thus would be a safe bet. I'll send you more thoughts in a private email. Best to Phil
I wonder why owners chose to sell a family art collection or piece at a gallery vs at auction. Maybe it's the same reasons you listed for purchasers. The art owner may have a relationship with the gallery, or not want the work possibly underpriced at auction and would rather just get it back. In other works, how do galleries get to represent an artist's estate? Is it more or less prestigous to auction off work at Sotheby's vs a NY or a London gallery?
Also, about buying, galleries are showing "new work" by contemporary artists. This must appeal to some buyers and collectors. Auctions are selling "old work". To buyers, this requires more judgement and may intimidate to some who don't know enough to be sure this is a "good" example of an artists work.
Great question. The reason for not consigning works at an auction house is that it would be a gamble to offer everything in a single sale—in effect "flooding" the market. Some works would inevitably be "passed", which is a temporary kiss of death.
Auction house reputation might add some value as"provenance," because just like blue chip galleries, high-end auction houses are selective in what they take on consignment. Investment-minded buyers are more inclined to buy at auction in part for this reason. A work of art being sold by Bonhams, Christies, Sotheby's, Philips de Pury et al., are seen as having been given a seal of approval, and thus would be a safe bet. I'll send you more thoughts in a private email. Best to Phil
Cheers, J