When selling a private collection at auction, is it better to run alone or with teammates?
Does it make a difference whether artworks of a private collection are sold on their own or as part of a regular calendar sale?
Should a seller be concerned about this at all? If so, which type of sale would be most appropriate for a private collection?
To answer these questions, Pi-eX compared the performance of various types of evening Sales (Repeating Calendar Sales, Private Collection Sales and Curated Sales) in London, New York and Hong Kong from 2007 to 2018 at Christie’s, Sotheby’s and Phillips.
Pi-eX analysis shows that different types of sales exhibit varying profiles in terms of liquidity, performance and potential risk for the seller. This means that, ahead of a sale, sellers need to think hard about which type of sale is most appropriate for them given a particular collection, the seller’s need for liquidity and appetite for risk.
Pi-eX’s analysis covered 385 evening auction sales, 178 in London and 153 in New York and 54 in Hong Kong of which 159 were arranged by Christie’s, 158 by Sotheby’s and 68 by Phillips.
Lots wise, the analysis encompassed 20,885 lots, 9,277 lots catalogued in London, 8,585 lots in New York and 3,023 in Hong Kong of which 8,876 were catalogued at Christie’s, 8,750 at Sotheby’s and 3,259 at Phillips.