Whether you have created your fine art consignment service or inherited a piece, the best way to sell it is through a consignment. By allowing a gallery or auction house to represent and market your work, you will not only make a profit, but you can also feel secure that the sales process is handled professionally and without a great deal of risk.
However, before you decide to take the risk of entering into a consignment agreement, make sure you understand how the process works and what is at stake. The pitfalls of consigning can be many, and you may want to consider a private sale or a direct sales agreement instead of a consignment arrangement.
Finding a Fine Art Consignment Service That Delivers
When a gallery accepts your art on consignment, you will be required to sign an agreement that stipulates the terms of the sale, including the prices for your paintings and the percentage that will go to the gallery upon selling. Ensure that these pricing and commission agreements are posted publicly and are fair to both parties.
Be aware that a gallery has no interest in selling your paintings at low prices or for less than their wholesale value. They are a business, and they must pay their bills. If they cannot sell your paintings at a price that pays their bills, they will likely try to purchase the artwork from you for cash instead of losing money on the sale.
A reputable auction house will offer a clear and transparent sales process, including their commission rate, insurance coverage, and transportation costs. Be sure to ask the auction house for a copy of their policy to ensure they are reputable and will follow through on what they promise.