I'm a collector who has moved on to become a new gallerist. Most days I wake up wondering why I didn't just stick to collecting 😂. I love your channel. The content you provide is valuable and edifying. There are so many facets to the art world, and your channel has helped me to understand it and begin to navigate it with a little more confidence. Thank you.
That's why smart artist are going directly to the public to sell their art for a much much greater percentage of profit in auction! Or some cases Instagram!
In Europe buyers have to pay ARR to living and dead artists’ estates.So artists do gain from sales when art is re-sold based on the final hammer price.
I have about 20 to 30 pieces of Paintings. What auction house do you recommend. Does the auction house give you an idea of what the paintings are worth. Is there a place that I can get appraisals?
Are art auctions also for money laundering? Let’s say billionaire A owes billionaire B for some illegal reason. Billionaire B buys ‘cheap’ painting for $1M. Billionaire A donates $10M to museum. Billionaire B puts painting up for sale. Museum bids $10M for painting. Billionaire B receives their $10M. Museum now gets painting that is now famous. (But one they could never resell for that amount.) Auction house gets a cut.
This is not possible for the following reasons: The Museum: Museums have nonprofit status shielding them from taxes, this is you donate to them to get tax benefits. If they become part of the scheme you've suggested they lose its nonprofit status which means they immediately owe various taxes, lose access to grants and support of the nonprofit community...ending in instant death for the museum. Museums don't have their own money, they depend on donations protected by a board of trusties hence can't even bid for anything as bidding means the one who pays the most wins. The Auction: The auction house would also not participate in this scheme for the following reasons: 1. Lawsuit: auction house will attract a lawsuit and be forced to settle. This is bad as auction houses don't take commission on high value sales since this is advertisement for the lower priced works of between $10k - 200k where majority of buyers are. 2. Strategy and risk: while auction houses make it feel like anyone can take their artwork for auction, this is far from the case. Works from random artists are turned down as the goal is not simply get a hummer price price but secure future sells i.e its the brand of the artist that commands prices not the art work or seller, this is why you often hear the phrase "long lost artwork by..." Each artist must have an ecosystem made of collectors and experts that exclusively work on that artist hence its the authenticator's job to link the work to that artist which is also harder that its made to seem the older the artist is. Selling an artwork by an artist with an ecosystem increases the value of the entire ecosystem meaning the experts are more credible and their collectors are encouraged submit their work for auction hoping to attract a similar price which increases the value and prestige of the ecosystem. 3. Regulators: it is misleading to say the art matket is not regulated, as anti-money laundering bodies do not care which industry you are in they will get you. Often people assume that since you haven't been caught today you have gotten away with it. This is not true in law, you merely have gotten away with it at that particular point in time but they can still come after you for that transaction in the future even if every other transaction was clean. When they do everything is seized which includes all the asset the auction house has whether it was bought with clean money or not. 4. Money laundering: auctions are a public affair yet money laundering is a private affair. This means that you can't launder money through auction, you would have to clean the money first then store in art by buying the art through an auction. The only reason you are buying the art is coz its an asset you wish to diversify how you store your money for later and unlike a house you its not very visible. In summary the Auction can never risk losing everything (their assets and future business from all other legitimate buyers and sellers) over one sketchy scheme made by two people who owe each other. Most importantly these two individuals must be as smart as a rock in money laundering if this is the preferred scheme especially if you can see it with your level of clarity what makes them think law enforcement and general public can't?
I'm a collector who has moved on to become a new gallerist. Most days I wake up wondering why I didn't just stick to collecting 😂. I love your channel. The content you provide is valuable and edifying. There are so many facets to the art world, and your channel has helped me to understand it and begin to navigate it with a little more confidence. Thank you.
Okay Memphis
Can’t tell you how glad I am to have found you! You’re a blessing!
Thank you so much for watching! 🌹🌹
That's why smart artist are going directly to the public to sell their art for a much much greater percentage of profit in auction! Or some cases Instagram!
In Europe buyers have to pay ARR to living and dead artists’ estates.So artists do gain from sales when art is re-sold based on the final hammer price.
This is great information. Is it possible to re-upload these episodes in podcast form as well!? Thanks!!
Hey Carlos. I hadn’t thought about the podcast route. I may do that. Thanks for that suggestion, and thanks for watching bro!
Good idea. Her information giving has nice flow. Would be good to listen while doing something else
I have about 20 to 30 pieces of Paintings. What auction house do you recommend. Does the auction house give you an idea of what the paintings are worth. Is there a place that I can get appraisals?
Did you get a answer im in the same position.
I 3rd that.... Anything?...... Anyone?
That was an eye-opening informative 10min.. thank you 😊
Was wondering do artist ever directly auction there work and if so how does that work?
Cheers
Mariah is very helpful esp for beginners. May we have more sharing of ur wisdom in art? God bless
Hi Mariah Alise thank you for explaining the benefits of being attracted to art itself ( Samson art part 1to 8 ) series Thanks bless!
Iv always wondered how that worked!
May I know answers to this question, 'what security arrangements put for property on auction day' by salespersons or agency ?
Why are you so gorgeous ? thats the real question 🤷🏻♀️
I have tried three times to get a concierge with no luck Help
Great content,thank you!
I’m an artist myself searching for good explanation 🔥
this opens my eyes to value my art even more and to becoming wise about how to sell my art.
Gr8 content. Thank you
Art MAFIA GAME. 🤣
☝️
Thank you. Very informative.
Glad it was helpful!
More Artists are learning it is fare more lucrative to sell numbered editions, prints,Etc... and hold onto the original and the rights.
Very well presented and you have a wonderful voice 💯
Where we (a new artist) can sell our artwork at a high price? Which auction houses take new artwork for auction?
What's the difference between art charity action and art actions?
Thank you sistah! You are sharp and beautiful!
I’m trying to sell a piece and I want to do a online auction, any pointers or websites?
Peace Goddess very informative✨💎 lets build!
Hello madam at one time also tell us about the prevailing art jobs
Thank you for the explanation, love you so much for that
Are art auctions also for money laundering?
Let’s say billionaire A owes billionaire B for some illegal reason.
Billionaire B buys ‘cheap’ painting for $1M.
Billionaire A donates $10M to museum.
Billionaire B puts painting up for sale.
Museum bids $10M for painting.
Billionaire B receives their $10M.
Museum now gets painting that is now famous. (But one they could never resell for that amount.)
Auction house gets a cut.
This is not possible for the following reasons:
The Museum:
Museums have nonprofit status shielding them from taxes, this is you donate to them to get tax benefits.
If they become part of the scheme you've suggested they lose its nonprofit status which means they immediately owe various taxes, lose access to grants and support of the nonprofit community...ending in instant death for the museum.
Museums don't have their own money, they depend on donations protected by a board of trusties hence can't even bid for anything as bidding means the one who pays the most wins.
The Auction:
The auction house would also not participate in this scheme for the following reasons:
1. Lawsuit: auction house will attract a lawsuit and be forced to settle. This is bad as auction houses don't take commission on high value sales since this is advertisement for the lower priced works of between $10k - 200k where majority of buyers are.
2. Strategy and risk: while auction houses make it feel like anyone can take their artwork for auction, this is far from the case. Works from random artists are turned down as the goal is not simply get a hummer price price but secure future sells i.e its the brand of the artist that commands prices not the art work or seller, this is why you often hear the phrase "long lost artwork by..." Each artist must have an ecosystem made of collectors and experts that exclusively work on that artist hence its the authenticator's job to link the work to that artist which is also harder that its made to seem the older the artist is. Selling an artwork by an artist with an ecosystem increases the value of the entire ecosystem meaning the experts are more credible and their collectors are encouraged submit their work for auction hoping to attract a similar price which increases the value and prestige of the ecosystem.
3. Regulators: it is misleading to say the art matket is not regulated, as anti-money laundering bodies do not care which industry you are in they will get you. Often people assume that since you haven't been caught today you have gotten away with it. This is not true in law, you merely have gotten away with it at that particular point in time but they can still come after you for that transaction in the future even if every other transaction was clean. When they do everything is seized which includes all the asset the auction house has whether it was bought with clean money or not.
4. Money laundering: auctions are a public affair yet money laundering is a private affair. This means that you can't launder money through auction, you would have to clean the money first then store in art by buying the art through an auction. The only reason you are buying the art is coz its an asset you wish to diversify how you store your money for later and unlike a house you its not very visible.
In summary the Auction can never risk losing everything (their assets and future business from all other legitimate buyers and sellers) over one sketchy scheme made by two people who owe each other. Most importantly these two individuals must be as smart as a rock in money laundering if this is the preferred scheme especially if you can see it with your level of clarity what makes them think law enforcement and general public can't?
Thank you
Absolutely! Thank you for watching 🤎
Very beautiful presentation
I’m learning art auctions
Love your channel! Yes!!!
thank you .
Top Notch!
Thanks 👍
Thank uuuuuuu
Thank YOU! for watching!
Beautiful ❤️
Thank you! 😊
❤️