Handling artwork from an estate comes with a unique set of both logistical and market-related difficulties. For those unfamiliar with the art world, navigating private sales, auctions, and negotiation with dealers can be overwhelming. Especially since it isn’t just a business decision, it’s often a personal one. Family legacies, emotional attachments, and the pressure to “get it right” can complicate every choice. At the same time, art advisors and dealers need to evaluate how to achieve the best outcomes for clients, either for individual works or entire collections, in an evolving market.
To shed light on how to approach estate art sales with greater confidence and clarity, we spoke with Roni Gurfinkel, Sales Director at MutualArt, who shared a straightforward three-step process for handling consignment decisions more effectively. Her insights offer guidance for professionals seeking to make informed choices and reduce uncertainty in estate-related art sales.
What are the most common problems estate professionals face when selling art?
Choosing the right sales channel. A poor match between artwork and sales channel can mean lower returns or no sale at all. Another challenge is negotiating with auction houses. Terms like reserves, fees, and exclusivity can be confusing or restrictive. Misunderstanding terms may lead to legal complications or disappointing sale outcomes.
Can you share a recent success story where MutualArt helped a client achieve better returns?
Fortunato Depero, Frustate Gioconde, 1916, wool collage.
An artwork by Fortunato Depero, titled Frustate Gioconde, 1916. After three rejections from different auction houses, MutualArt did not stop searching. While one house valued the Fortunato Depero work between $6,000 and $12,000, MutualArt continued the pursuit and ultimately secured a higher estimate from Swann, who was chosen to manage the consignment. This persistence paid off, as the artwork sold for $55,000 – significantly surpassing initial estimates ($12,000-$18,000) and demonstrating the importance of expert valuation and relentless advocacy.
Step 1: Submit – Understanding What You Have
Walk us through the first step of your process, submitting the artwork for consideration.
