(FAE) and the Alternatives:

Today there are many ways to monetize a large collection or estate of artworks—auctions, consignment with commercial galleries, studio sales, estate sales, and online through eBay and other platforms. For many years, the best methods have been auction houses and commercial fine art galleries. The chart below compares FAE's services with these two alternatives so that those faced with either issue can decide on the option that best serves their needs.

FAE vs. Auctions

FAE Auctions
Timing of Sale FAE Dealers can place artwork online to start the selling process shortly after a consignment agreement is signed. Consignors may have to wait months until the appropriate auction for a specific artwork is scheduled.
Consolidation Instead of waiting for particular types of artwork to accumulate, FAE Dealers are continually adding all types of artwork onto the FAE website from many different consignors. Auction houses normally consolidate similar types of artworks over time and then market the accumulated artwork at a sales event that normally lasts several hours.
Selling Method FAE Dealers place artwork online at an estimated retail value for a Dealer-designated period of time in order to get maximum online exposure before the Serrace® Sales System reduces the price. Price reductions appear on a published schedule until a work either sells or reaches a predetermined bottom price authorized by the consignor. Artwork can immediately sell at its predetermined bottom price authorized by the consignor. The artwork will surpass its bottom price only if there is more than one person who wants the work. Starting from its bottom price, the artwork is bid up in increments, until no one will pay more.
Time Work Is Available for Sale Determined by their Serrace schedules, artworks are available on the FAE website from the moment they go live until they are sold, or until their published Serrace schedules conclude. Most live auction items are actually available for sale between thirty seconds and two minutes. This limited time frame makes auction sales highly susceptible to a myriad of circumstances that could stop a potential bidder from participating in a sale. Inclement weather, power failure, transportation issues, calamity in world news, and simple distractions are obstacles that can keep a qualified buyer from bidding.
Published Price Results When an artwork goes live on the FAE website, everyone has equal access to its published Serrace discounting schedule. After a work is purchased, the artwork record will still appear, but without its purchase price. If a work did not sell, the artwork image and all specific information about that work are removed from the live site. The sales price of most artworks sold at auction becomes public record. Anyone with access to an online fine art auction database can see an artwork's sales price, often including the buyer's premium, what it was estimated to sell for, and if the work did not sell.
Cost In the FAE system, the consignor's percentage is based directly on an artwork's selling price. In the traditional auction model, the consignor negotiates their percentages with the auction house, and is paid based on the "hammer price" of the artwork, not the "hammer price" plus the "buyer's premium," which is actually the true selling price.

FAE vs. Commercial Art Galleries

FAE Commercial Art Galleries
Reach FAE markets the consignor's artwork worldwide, and because FAE is designed for the professional, it provides unique features and tools found only at FAE. FAE is the first place that designers, art consultants, and art advisors will look when sourcing for their clients. Art Galleries have limited access to buyers in comparison to FAE. They have access to their client base, other dealers, their gallery website, social media, and fine art websites in which they pay for participation.
Commitment It is in both the consignors' and FAE's best interest to have a selection of carefully chosen works online at any given time. A gallery may have an exhibition highlighting an estate or collection, but after the first flurry of sales, normally of the best work, the gallery will often experience slowed interest.
Consignors In addition to a receipt, FAE gives consignors their own dashboard where they can keep up with the status of every work they have consigned to be sold on the FAE site. Galleries normally give the consignor a receipt for the work they have taken for sale, but, after that, the consignor will normally have to contact the gallery for updates on the status of artworks placed in the gallery's care.
Buyers Every person who has access to an internet connection is a potential Buyer, and everyone has equal access to the information about each artwork on the website. If a gallery does not use the internet to help sell works on consignment, their access to potential buyers is limited.
Trying Works on Approval Although artworks do not leave a Dealer's facility while they are on the FAE site, a potential Buyer or a Buyer's representative may contact the Dealer who has possession of the work and make an appointment to see it. Also, the free FAE apps provide two ways for the Buyer to visualize how an artwork will look at home or in an office without having the artwork present. In most circumstances, a gallery will permit a potential buyer to take an artwork out on approval to see how it looks in his/her home or office.
Payments Through their online dashboard, consignors will know the status of every work they are selling as it passes through the FAE system. When the status of a work changes from "Purchased" to "Sold," the consignor should receive payment from the Dealer within the next two weeks. Most galleries are honest in how they conduct their business, but consignors may not know when an artwork has been sold until they receive the accounting they have requested, or payment for the sold work.
Documentation In addition to hard copies, consignors will be able to see legal documents, including the Seller/ Dealer contract, artwork receipts, certificates of insurance, and other related documents on their dashboard. Most galleries will provide the consignor a consignment contract and a receipt documenting all the artwork they have on consignment. If requested, they may also provide a certificate of insurance.
Transparency FAE is the most transparent fine art sales system ever devised. The consignor can keep up with every artwork's status by checking the dashboard on the FAE website. Virtually none; consignors will rarely know that artwork has sold until they ask or receive payment from the Galley.

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