Art Monetizing Strategies in the order value achieved -lowest to highest -
Drafting from our extensive experience in the art business, we’ve identified the best strategies to accelerate the monetization of your art.
Below, we present you with the list of actions to take if you wish to sell off your collectible items or art:
1. Auction Sales:
Auctions offer a quick way to liquidate your art. However, auction houses charge you a 25-30% commission on your sales and also charge the buyer around 25-30%. This means that the auction house charges can amount to 50-60% of the end value of the item.
Modern Artifact does not offer an option to auction your art, but we do provide a service of cash offers comparable to what you would expect to receive at auction.
Modern Artifact will consider comparable sales of art and make a quick cash offer equivalent to what your item would achieve at auction.
This typically means that the selling party will receive more for their item, since the auction house premiums are not involved.
2. Immediate Cash Offer:
If you are looking to achieve the auction net amount with your collectible item without the hassle of going through an auction process, the immediate cash offer is for you.
Receiving an offer, you will be given access to tools that enable you to look at past comparable sales. Once all parties are educated, we will discuss an immediate cash offer.
However, you will achieve about 35-45% less than if you were to consign and wait for an end buyer.
3. Partial Immediate Cash Offer and Consignment (for larger collections only):
The combination of the partial immediate cash offer and consignment gives you the ability to capitalize on a portion of consigned collectible items, for what you will ultimately receive cash upfront to cover any urgent expenses.
Since we are investing money in advance to take on your collection, our negotiated commission will be slightly higher than usual to cover the cost of that money.
4. Private Treaty
A private treaty strategy is a form of representation contract designed for those who would like us to employ our know-how and our contacts to find the end buyer.
If requested, we can require a nondisclosure agreement from anyone that comes in contact with the art. To date, we have helped individuals sell high-end art that was on loan to museums and featured in private family collections.
Given the required time and expertise investment, we will not accept a private treaty representation for any art valued under 50k.
As the most lucrative strategy to monetize your art, consignment means that you will receive the maximum amount for your item at a time when a proper end buyer for your piece appears.
The downside of this strategy is that it takes longer to monetize your collection than through any other option.
Having conducted all of the listed strategies over the years, we proudly claim that the fifth one listed - consignment - has contributed to our success and to our ability to maximize sales the most.
Our system is simple, yet highly effective.
Focusing on the secondary market, we buy art that has a high demand and popularity among collectors. We dedicate serious time to positioning and promotion of art, providing professional photography and expertly written descriptions for each piece we take on.
Further, we list your art on all available channels, including our website and the most prominent platforms such artsy, Artnet, eBay, eBay international, Google shopping paid search, Facebook, and Instagram. With this proven strategy, we ensure the high visibility for the art we represent reaching all interested collectors.
We take our business seriously and invest an excess of $100K annually in marketing and maintenance to support our clients and deliver the highest level of service to our collectors.
Consigning with Modern Artifact will give you the capacity to show your items to more than one collector who may enter your brick-and-mortar gallery. Partnering with us will provide a set of verified professional services and methods to achieve the highest value on your art and collectibles.
There is no better strategy to monetize your collection.
For all inquiries regarding art monetization, consignment or email upload to Modern Artifact, please contact us via email: support[at]modernartifact.com.