I recently approached a very large, successful gallery for
assistance with an appraisal of a work created by an artist they
represent. After a decent interval, a
polite reply came back:
“Dear Jay,
I apologize for the delay. Please know we charge a flat fee
of $500 with an additional charge of $250/hour for the preparation of an
appraisal. Please let me know if you'd like to proceed.”
This is new. My
experience has been that commercial art galleries are generally wary of
appraisers but more often than not are happy to collaborate. In cases that they are not, what usually
happens is that I am invited to send in the request and then I hear nothing
back. The piece I was asking about is
likely to retail for around $15,000; there is no way to justify spending 5% of
its price just to have the gallery who represents the artist provide a
valuation. The above reply is, of
course, designed to discourage any future requests, except in the cases where
objects have tremendous value. I must
admit, it seemed (and felt) like a slap.
This is a free country and commercial art galleries are in
business to make profits. They are under
no obligation to provide me with free service.
Indeed, many dealers have complained to me that they expend time and
effort giving appraisers valuations for free, and then the appraiser (they
think) simply turns around and bills the client after cutting and pasting the
information into a template and referencing the gallery as the authoritative
opinion. Having worked in galleries for
over 20 years and having owned one myself, I confess to sharing this
attitude. Most gallerists have stories
about obnoxious phone calls from appraisers demanding immediate assistance,
followed by a volley of intrusive follow up questions and desperate emails referencing
their looming deadlines. I have my own
stories: there was one appraiser who was unable to properly pronounce the
artist’s name they were asking about and in another case an appraiser asked for
a copy of a recent invoice to provide back-up for an appraisal she was
preparing, telling/scolding me that my own opinion was not sufficient for her
purposes. I suppose it goes without
saying that these people are usually unknown to the gallery prior to contact
and never heard from again.
So, really, professional appraisers today are paying for the
sins of their fathers (and mothers). I’d
like to think that the profession is changing for the better and that these
encounters are much less likely to occur in the present day. But the demand for $750 before lifting a
finger demonstrates that some galleries are in no mood to accommodate us.
Let’s stop right here and acknowledge that appraisers need
galleries more than galleries need appraisers.
I am aware, of course, that professional appraisers are integral to the
wellbeing of modern society. Without our
fiercely independent and ethical input, all commerce would be impossible. And yes, I know that galleries have an
obligation to the marketplace, they should want the proper values for their
artists’ works to be known by people who own the work. Blah blah blah.
In truth, galleries of contemporary art hold most of the
cards when it comes to their artists’ markets, and that’s the way it should
be. Galleries expend an incredible
amount of time, money and energy on behalf of their program, mounting shows,
doing art fairs, assisting collectors, curators, critics, publishing books and
so on. Dealers work their fingers to the bone on behalf of their artists and
then we come along and ask, “How much?”
Appraisers need to be incredibly respectful of the work that
they do. I can’t overstate this. An insurance appraisal from a gallery should
be received as if one was getting communion from a bishop or some of the best
Halloween candy ever. Granted, I wish
that the big fancy gallery that refused to help me was more beneficent towards
the little guy, but then again, I have viewed countless fantastic shows at that
gallery, for free, and can go in and read the books they have on display for as
long as I like. They expend considerable
resources every day to create economic activity which makes the art world a big
enough place to require appraisers. I
can’t complain.
So, what can an appraiser do to coax an opinion of value
from the expert dealer? Bribery is
always an option. Naturally, most of us
can’t afford the $750 demanded by the anonymous gallerist I have been
referencing, but I always like to give a small gift to the person who has gone
out of their way to respond to my requests.
Doesn’t have to be much. But
something that shows them that you appreciate the time and effort they have
expended on your behalf. I like to find
things that can be shared amongst the staff, if that person so chooses (a box
of chocolates, for example). This
assumes, however, that the appraiser has already been helped…what can we do in
advance to help our cause?
Work. Which I know is
not really a glamorous word. But before
we pick up the phone, send an email or walk into a gallery, we appraisers need
to have done our homework. Go to the
gallery’s website to see if they have similar works by the artist
displayed. Look at the exhibitions for
that artist…perhaps there are installation shots which depict our object on
display? Troll through the CV of the
artist and read the press that might be easily accessed. Go to the library and pull books. Maybe go to the gallery without asking for
anything and see if they have any publications or maybe a binder around about
the artist that you can look at. In short, according to USPAP, you are holding
out yourself as having expertise in the material you are appraising. Be one.
A lot of questions that appraisers have can be answered by consulting
freely available information. Contacting
the gallery should be the last thing we do, not the first.
Armed with knowledge, the appraiser becomes less of an
annoyance and more of a collaborator.
One can call the gallery with a specific question, rather than
many. I would also recommend telling the
gallery what you think the value might be and why. Gallerists enjoy discussing their artists
work, so if you actually have a specific, intelligent question and are not
looking to cut corners, you might find a more sympathetic ear.
Information is another powerful carrot the appraiser can
proffer. You should ask your client if
they would feel comfortable with your sharing their name with the galleries you
contact. Naturally, they might wish to
remain anonymous, and it might not be appropriate. However, most clients don’t mind and in fact,
already have a relationship with these galleries. When the dealers know that you are working
for someone who buys from them, they are likely to be much more friendly. Obviously, the more mercenary among us will
think that galleries want to know who owns what in order to be able to sell it one
day. But there is nothing wrong with
that! And, on a gentler note, they might
want to borrow it for an exhibition at their gallery or at a museum down the
road. Having the existence and ownership
of the work in the gallery archives can facilitate all sorts of positive
things.
If you have done a
lot of research into the market, you can share the relevant bits with the
dealer. While they probably already know
what is out there, it never hurts to see it condensed and organized. Maybe you have seen works by private dealers
for sale, where you can report the asking price. You may actually have turned up something
that they didn’t know, which will help them in their business.
I would be very interested to know if any of my fellow
appraisers have other tactics for overcoming the inherent suspicion of us
harbored by primary market dealers. Finding common ground with them is one of the
biggest challenges faced by appraisers. In
truth, we have only ourselves to blame for the often dysfunctional relationship. But the top appraisers have always found a
way to make themselves an indispensible part of the art world. We need to make smooth relations the rule and
not the exception.
Really great round up of the issues on both sides.
ReplyDeleteThere's no questions than an request (let alone demand) from someone unknown to the gallery goes over like a lead balloon. Especially when we're busy, which leads me to also suggest appraisers approach galleries with requests during slower times of the year (avoiding the major fairs weeks, etc.).
I've asked my clients to approach the gallery from whom they purchased the work to provide an appraisal directly. As I have done myself as a collector. The gallery, when not under a deadline, has always responded in a timely fashion as a courtesy to the collector. The appraiser has the responsibility to then collate all the remaining information he/she has at their disposal to complete and objective appraisal. There is also an another element involved which is whether the appraisal is for present market value, insurance or IRS and estate planning purposes. And appraisal requests should be done via email and not via the phone.
ReplyDeleteSue...excellent idea. Obviously, your clients may not want to take on this extra work (that's what we get paid to do after all), but in many situations, your approach is very suitable, so thanks for that. Your suggestion to have the correspondence emailed is also wise, as it makes it much easier to maintain a proper workfile. The various values you mention are where the rubber meets the road. Galleries will generally provide Replacement Value, and the appraiser is left to extrapolate other values from there. Getting Fair Market Value and/or Marketable Cash Values is a much more delicate proposition. Might be a good idea for a future post. Thanks so much for your comment.
DeleteAfter giving away free valuations to appraisers for three decades as a dealer, I started taking on appraisals myself.
ReplyDelete