Surrey Homes | SH101 | June 2023 | Education Supplement inside

Love
Lots of
We speak to Buffy Parker, Managing Director of Parker Fine Art Auctions
and Ed Beer, Paintings Specialist at Woolley and Wallis Salisbury
Salerooms Ltd to find out how best to acquire art through auction
Art from top to bottom
1: Paul Henry (Irish, 1876-
1958), landscape with
turfstacks and mountains,
oil on canvas. Sold in 2022
for £150,000 at Woolley &
Wallis
2: Sold at Parker Fine Art
Auctions for £10,000
3: Frances Hodgkins (New
Zealander, 1869-1947),
Still Life, watercolour
£8,000-12,000. To be sold
on 7th June at Woolley &
Wallis
4: Sold at Parker Fine Art
Auctions for £24,000
hat is the biggest advantage
of buying art at auction?
The huge variety of pictures to choose
from. Our monthly sales have something for
all tastes and budgets, from old masters to
contemporary greats.
Buying at auction can be like buying wholesale
rather than retail – prices are often below those
you would find in a gallery.
What’s currently trending and how can
you choose the best investment?
We have recently seen a boom in sales of
Modern British pictures and works by female
artists. However, the art market is famously
unpredictable and all investments carry risk. The
golden rule is to buy pictures that you like so,
even if they don’t appreciate in value, you still
have the joy of owning them.
Unless you are an expert (or have a crystal
ball!) investing in art and antiques can be a risky
business. The best strategy is to buy what you
love, then you won’t mind if it loses you money.
I wouldn’t advise investing in any items that are
“hot right now” as they’ll generally be at the top
of their market and are only likely to eventually
depreciate in value.
Should you see the item before you bid
or attend the auction in person?
We’d recommend seeing an item first, although
all of our lots are illustrated online with highresolution
images and we provide condition
reports on request. Nothing compares to viewing
a picture in real life to appreciate its scale and
subtleties of colour, so please do come and view.
We are open for a week, including the weekend,
before every sale. As for the day itself, you don’t
have to attend the auction, you can bid online or
by phone, but it’s fun to be there!
We always recommend viewing art before you
buy as there’s really no substitute for seeing it
in the flesh. Art is subjective so seeing the piece
in person will help you appreciate the colours,
brushwork and (importantly!) size. However,
a good auction house will provide a condition
report and extra high resolution photos and
for modern artworks, condition is often less
of a problem so viewing is less important. We
always recommend attending auctions, but also
understand it isn’t always practical and with
telephone, absentee and internet bidding there is
no longer a need to be present at the sale.
£10+VAT per lot to sell in one of our auctions –
other auctioneers charge the seller a percentage of
the hammer price as a commission. Buyers also
pay a fee – our buyer’s premium is 25%, which is
in line with most other auction houses.
All auctions are subject to buyer’s premium,
but the percentage varies depending on whether
you’re buying at a London saleroom or a village
hall auction. For many 21st and 20th century
artists, a fee called Artist’s Resale Right also
applies on any work over €1,000, which is
a sort of royalty, and starts at 4%. If you are
importing or exporting any object then other
costs need to be taken into account; as would
UK shipping if you are buying remotely or
the artwork won’t fit into a standard car!
How do you know if the piece is worth the price?
An auction is a free and open marketplace
where items find their own price. Our experienced
picture specialist (who celebrates 50 years’
experience in the art world this year!) assigns every
lot a guide price considering its quality, popularity,
condition, and scarcity.
The joy of an auction is that the open market
decides the price. Again, if it’s something you love
then the price is less important, but there is no
point in paying over the odds for something that
is available cheaper elsewhere. If you are buying a
work by a particular artist then do some research
beforehand and see what sort of prices their work
makes at auction. Most auctioneers will be able to
give you some guidance beforehand to help you
set your bidding level.
What’s the most memorable piece
you’ve ever auctioned?
A collection of paintings, drawings and
prints which had been put together over half a
century. Estimated at £63,000, the collection
totalled £406,000! The auction was held during
lockdown, so no-one was present in the saleroom,
but there were 1,500 online bidders. Each piece
was a superb example of the artist’s work.
That’s a tough one! One of the most
memorable pieces of the last year was a painting
by Sir William Nicholson that was commissioned
by Siegfried Sassoon and came to us via his
descendants. It wasn’t a large canvas, but was a
particularly good example of Nicholson’s work.
That and the provenance meant it surpassed all
expectations on the day and sold for £550,000 – a
record price for any work by this artist.
istockphoto.com/ natrot & Paket
Can you explain a little about the
less obvious costs at auction?
We are unique for charging our vendors just
To find an auction and discover your next
art piece visit parkerfineartauctions.com and
woolleyandwallis.co.uk
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