Art isn’t exactly a commodity; it’s unique. Everyone has different tastes and values. If fellows are artists, consigning art is an excellent way to get exposure and collect a profit on the pieces they find challenging to sell.
Canada is the second largest country, encompassing nearly two-fifths of North America’s continent. Its three most populous cities are Vancouver, Toronto, and Montreal. In this widely spread country, art consignments form a trend that depicts how much Canadian fine arts or contemporary arts are appreciated here.
Read on to know the basic things one should consider before consigning one’s work.
Price and Authenticity
The price of your work is one of the most crucial things to consider when selling those with a consignment agent. Auctions typically start low and end high, so it’s difficult for an artist whose work is comparatively new or unknown to get top dollar for their artwork at auction. If you want more money, selling through an online platform might be right for you.
If you are new to consigning, remember to check the authenticity of your consignor. You can do this by checking online reviews, researching their previous auctions, and exploring their official websites to check the benefits they provide to the artists.
Commission Rate
The commission rate is how much you will earn for each creative piece sold. If you’re selling several pieces at a time or if there are many different types in your inventory, it may be possible to negotiate with them on lowering their standard commission rate.
It’s always good practice to check out other galleries’ websites before setting up an appointment with the first, so you can get an idea of their policies and how much they charge for their auction services.
If possible, discuss with your fellow experienced artists to get an idea of how much commission your creativity deserves.
Check the Agreement
To get the best out of your work consignments, consider the following things in the agreement:
- The contract should include a minimum and maximum value for your art and the date by which you can sell it (if this is specified).
- Check the time limit for contract expiration. Ensure that the contract has an expiration date so that both parties know when they must deliver their end of the bargain to move forward with a sale or consignment agreement.
- Verify the date by which payment must be made. This is essential, and if verified after a while, one might keep you waiting for a long due payment.
- Also, discuss with your consignor about the insurance and security of the artwork. Check the policies in case the art is damaged on their end.
Shipping and Collection
When you consign your art, it’s essential to consider the cost of shipping and insurance. They will handle the shipping if you’re consigning at a gallery. But if you’re doing it with an online platform, you might need to ship your pieces yourself.
Art consignments can be challenging for new artists, so the shipping guidelines should be well-versed. However, you can rest assured with reliable companies that excel in buying, selling and managing valuable items.
Bottomline
With this article, you’ll be able to make an informed conclusion about art consignments. If you decide to give your art for consignment, remember that it’s essential to keep an eye on the contract terms and expiration date, so they stay the same.
You should also ensure that there are no hidden fees or other costs when selling artwork through a consignment shop—and if any problems arise during the transaction process, make sure they have enough insurance coverage.
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