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The buyer did not want to see the item in person first, but he said he was going to have the authenticity verified by an Edouard Cortes expert. That is no major concern to me because of my extensive research, and also Rehs Gallery in NYC told me it was an original (I sent it to the gallery first because they showed some interested in buying).
As far as a difference between selling the piece and any other item on eBay, there was none. Having the professional pictures made everything super easy. Also, I did a brief write up about the condition and provenance. The only downside was waiting on the check, and subsequently waiting on the check to clear.
No, I am not back to scavenging lower dollar items…I am just being super selective about what I buy. I purchased some rare Chagall lithographs recently, and once I get the one back from being professionally framed I will list those as well.
Ryanne –
FedEx has deluxe art shipping boxes. The broad sides of the box has a thin puncture-proof plastic lining. The box comes with three layers of foam. The outer two layers are egg carton foam, and the inner layer is 2 inch think foam. You cut this layer to make a snug frame around the artwork. This type of box was actually recommended to me by the gallery in NYC. Uline sells these types of boxes. As you can see they are kind of costly. https://www.uline.com/BL_2356/Deluxe-Artwork-Shippers
My business insurance had me covered in case something would have happened during shipment.Jay –
I don’t know if it was a unicorn necessarily, though I am also not sure how quick I would want to do it again. The gut instinct is to repeat the process, but ultimately I could be putting a lot of money out and sitting on the art for some time. Maybe I got lucky selling so quickly this time?
I DO think having the professional photos done was a big plus and I would definitely do so again for a fine art piece. The photographer I used would come down on price if I bring him more items at one time, so that is worth considering too.
Also, wanted to note my eBay fees were only $250, which was awesome. I may also consider having a business policy where buyers must pay by cashier’s check for purchases over $5k…as that would save a bunch on PayPal fees.
Hi Jay and Ryanne:
I think you were referring to me when you mentioned that guy that bought the artwork.
Here is the breakdown:Purchased for $6500 (after fees it came to $7000).
Spent $100 to have it professionally photographed.
Listed for $16,999.99.
Sold after one day for $15,000.Buyer was an art collector/dealer from Columbus, Ohio. He paid by check, so I saved about $500 on PayPal fees.
I am about to trade in my ’96 Toyota Rav4 and I am looking at the parts I can pull without sacrificing trade in value. I can sell the roof racks for $200+ and the spare tire cover for $250-ish. If I didn’t live in a city, I would consider stripping it down more.
Typically I drive car til it is dead, but I want to get something bigger for my auction buys…so I am trading the Rav4 in for a glamorous 2000 Chevy Astro 🙂 I considered selling the Rav4, but someone previously did a terrible paint job, as it looks like it was painted with a dead chicken.
Hey Hausfrau…
The fine art world is so fickle in regard to value. Eight years ago this painting was probably worth $23-27k, but Cortes work has softened a little bit. The canvas measures 17.25″x13.25 inches, if it was larger it would be more valuable. Also, the long side was originally 18 inches, but was slightly trimmed down when re-framed in the 1970s. Not a big deal for me, but a purist would be inclined to pay less.
Ultimately, I went in between the estimate from Christie’s. On a good day at an auction, it could get maybe $20-22K. On a bad day maybe $10-12K…or worse yet not sell at all. I set myself at a price point on eBay where I can double my money (hopefully) and maybe come out a little bit ahead of that.
If this goes well, I could sell taking this kind of gamble maybe a few times a year. Ultimately, I know consistent income comes from the $30-50 sales. $100 to $200 or more sales are great, but I think it would be hard to consistently rely on those to pay the mortgage.
I also want to note I bought some other art at the same auction that I am just as excited about. One piece is from a Harlem Renaissance artist that I bought for $40, and I think it will sell for $550.
So, I guess I should clarify…I don’t really see myself having a “high end” eBay store. Instead, I want to have a good mix of items but my focus is the higher end sales, even if that means spending some more in the process.
I like auctions. Auctions allow me to research ahead of time and go in with a game plan on items I want to go for and how much I want to spend. In addition to those buys, there are always smaller, less expensive vintage items that I can buy cheap and sell for $30-50, 60, etc…even better is when I buy something I want I know I can sell for $150+ but it is coupled with a lower priced item. An example of this is a buy I made the other day in an online auction — I paid a small amount for an antique scroll saw I should be able to sell for $200, but the lot also a small bag of antique tools I know I can easily sell for $50ish.
As far as a breakdown of a store, I can envision having 1000 items. Consisting have listed 25-45 items for $700+, with the rest being a mix of items $30-50ish, $50-200, $200-500, etc…
After selling a variety of items over the last 6 years, I really decided what works for me is selling things I am genuinely interested in myself. Antiques/vintage items interest me. I am a minimalist, so I don’t collect anything…but I enjoy researching, photographing/listing, and selling those things.
I sold clothes and hats exclusively for a long time. Did well, made quite a bit of money, but I just wasn’t into it. It was also a bummer because I think a lot of people in these categories sell things way too cheap (especially hats).
So for my experiment, right now it is just that because I am in a good spot. I live in a low cost of living area, I have a good salary, I live below my means, etc…I would never have made such a leap if I was reliant on selling the painting to pay my mortgage next month.
Also, I like having a variety of ways to sell and make money. eBay, Facebook Marketplace for items that are easier to sell locally, auctions when worthwhile, and my family does a big yard sale once or twice a year. This allows me to make a few hundred dollars in a day on items that otherwise I would have donated.
As far as sourcing, auctions (online and in person) are my jam. You can get good items from Facebook Marketplace to sell on eBay, and we have some great flea markets in the area. I like yard sales and thrift store, but it seems like that well is not as deep as it used to be.
It is all a dream as this point. Along with the experiment I need to work on building up my inventory.
So I guess it depends how you define “every week” . I do not think I could sell $1000 items week after week, but I DO think I could sell fifty-two $1000 items in a year.
Maybe not art, but I do think it is possible to find items for $5k and sell for $15k consistently.
Thanks. It’s all part of a greater experiment I have been doing. I have been selling casually for the last 5 or so years with the intention of going full time but I never took the plunge. A few years ago I started an unrelated business and that exit set me back somewhat financially.
Back in a regular gig (with amazing benefits) I have been selling more consistently on eBay recently, but I want to move beyond the “low hanging fruit.” This involves doing a lot more research before buying (or bidding), expanding where I will travel to buy or bid, etc…
Auctions, I feel, have the opportunity for a greater return, but it does involve making a great investment initially. So, prior to obtaining the piece, I spent many hours researching the artist, looking up sold histories, and find out as much provenance as I could about the piece. Another thing going for it was the fact the painting was a complete unicorn at the auction I ended. It was an estate auction held in a barn among a lot of pieces of furniture and normal auction fare. On the day of the sale, I sized up everyone and figured no one was really there for the art…and I was right. I ended up bidding against one other guy, went a little above what I wanted to spend (that’s how auctions go) and I came out the winner.
My immediate gut reaction was to go home, contact all the fine art auction houses and put it on the block as soon as possible. BUT the art world does not work this way, and in reality I will probably need to sit on this piece for a few months before it sells (either on eBay or if I consign it to Christie’s for their August sale).
To answer your questions Jay –
I have flipped a lot of art in the past, but usually it is spending $100 and selling for the $800-1000 range.
Yes, I have a lot of experience in the art realm from my days at Penn State. I spent countless hours listening to professors talk about paintings and sculptures while they flipped through slides on the projector screen. Also, I studied art/art history for an abbreviated semester in Italy.
I do not often see high dollar art come available to flip. Again, usually it is seeing something for a few hundred and maybe getting a thousand or two. I also enjoy the space where I can find something for $5 and sell it for $75-100 (this is where I am comfortable being consistently with art). The Cortes piece was a complete unicorn, so I do not see that as being a regular thing.
With that said, existing within the niche of fine art is complicated unless you are an expert…and I am very far from being an expert. I think my greatest chance (for me at least) is to stay diversified but with the intent to invest more, get a greater return. I tend to sway towards vintage furniture, lamps and other antiques.
Sorry for the long response…
Hopefully without too much judgment from everyone on the forum…$6500. It was a gamble, but I figured I could at least double my money, even if it takes some time.
I couldn’t get an answer on how much “Vendor Charges” would be. It is still a route I could go in the future, but I thought I would test it out on eBay first.
Standard Commission:
– If hammer is $15,000, or below – 15% commission
– If hammer is between $15,001 – $75,000 – 10% commission
– If hammer is between $75,001 – $350,000 – 5% commission
– If hammer is above $350,000 – 3% commission
*All consignments are subject to a 2% Performance CommissionVendor Charges:
-Freight, restoration, shipping, expertise, and testing (Consignor to absorb)Better presentation of the work…
https://imgur.com/U9B0JBlHausfrau – still contemplating about the professional authentication. The problem with auction houses is the fact it takes so long to hear from them, if at all…and the anxious part of me is always thinking “sell, sell sell.” In the meantime, I am going to have my neighbor — who does professional product photography — take some high quality photos of the piece. This may help auction houses looking at it in terms of potential auction price.
BigSally – glad your Marsh piece made it to Skinner (presumably without issue). Being in Central PA, I am considering hand delivering to whatever auction house may take it –DC, NYC, Boston, etc…as the trip would be part of the greater journey. PLUS, I could hit up some potential auctions in those locales.
Happy Wednesday!
