Sometimes families inherit or acquire works of art that can prove to be more valuable sold in their country or region of origin rather than NYC, the “center of the artworld”, or anywhere else.I call this “Art Arbitrage”.Among the many paintings stored in bins at the advertising agency, J Walter Thompson, a dark and heavily varnished landscape signed Drysdale, (Sir Russell Drysdale) caught my attention. Estimates in NY were in the 5 figures, but sending it to Melbourne, Australia, where this artist was famous, was the right decision. It sold for $200,000 +.
One of my clients owned a few works on paper by Jose Guerrero, a popular artist from Spain, who even has a museum, Centro Jose Guerrero, dedicated to him in Granada. Estimates in NY were half of the results achieved in Madrid.It’s always a pleasant surprise to discover that you might have a valuable painting, print, sculpture or collectible that when sold in the right venue, results in an unexpected windfall. Maybe it’s time to take a look ! For a free consultation, contact me at www.deaccessionny.com
