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 <strong>June</strong> 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 priceless-magazines.com 56
Sold on 11 May for £11,000 NOW ACCEPTING ENTRIES FOR OUR JULY AUCTION To sell with us costs just £10 (plus VAT) per lot This includes all commission, illustration and insurance info@parkerfineartauctions.com 01252 20 30 20 www.parkerfineartauctions.com
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