- When it's time, FineArtEstates.com is here to help.
If you are the heir to an artist's estate, or if you are an artist or an art collector, who wants to ensure that your life's work and art collection are managed in a thoughtful and transparent manner, consider speaking with a FineArtEstates.com (FAE) authorized Art Dealer to inquire if FAE is the right solution to monetize your artistic assets.
- Who is FAE for?
When it's time for the professional artist to plan his or her estate, FAE offers the only online marketplace specifically designed to monetize the estate in a transparent, thoughtful, and efficient manner. FAE provides up-to-date information on every consigned artwork from contract to point of sale. As artworks are sold, FAE automatically creates an online archive, preserving the artwork's record and artist's biographical information.
Executors of Estates:
For individuals charged with the fiduciary responsibility to disperse an art collection or an artist's estate, FAE provides an unprecedented, transparent, "turn-key" solution that lets Sellers monitor sales activity in real time.
FAE defines an art collection as a dynamic entity reflecting the interests and tastes of the individual(s) who built it. Once assembled into a collection by a renowned collector or celebrity, these artworks are more highly prized by future buyers than comparable works of art. An artwork's provenance–the fact that it once belonged to a distinguished collector‐typically adds to its value.
Depending on the circumstances, a FAE Art Dealer may recommend marketing a group of consigned artworks as a collection through FAE's Collections' feature. Here, Buyers find photographs and biographical information about the collector(s). The Collections' feature also allows PDFs of catalogues, essays, and published articles to be uploaded, preserving documentation about the collector(s) and collection.
Foundations and Corporations:
FAE's built-in features allow Sellers instant access to the status of each consignment and every transaction. This affords Sellers an unprecedented level of transparency, instilling confidence that they are meeting their fiduciary responsibilities when monetizing entrusted artistic assets.
- What Artworks are Appropriate for FAE?
FAE sells only original paintings, sculpture, drawings, fine prints, and photographs that are of good quality and in good condition. Artwork must be either:
- Secondary market
- Produced early in an Artist's career
- Remain in Artist's hands after he or she is no longer actively working
- Part of an Artist's estate
FAE does not sell primary market artwork by active artists.
- How will FAE Sell Your Art?
FAE is the first fine art marketplace to use the Serrace Sales System. With Serrace's published-timed-discount schedule, the price of each artwork is reduced automatically until it is sold or is removed from the website because its next price drop will exceed its “reserve” (lowest acceptable price). Up to seven Serrace generated discount price levels appear on each artwork's detail page, establishing the exact date, time, and amount of each future price reduction. Serrace provides an unprecedented level of transparency, giving every Buyer equal access to the same pricing information throughout the entire sales process.
- Strategic Approach:
Large estates and collections are not just sold on FAE, they are campaigned! An FAE authorized Art Dealer works with each Seller to develop a customized marketing strategy using the Serrace Sales System to maximize the monetization of each work of art.
- How do I sell my art on FineArtEstates.com ?
Sellers must first contact an FAE authorized Art Dealer. To view a list of FAE authorized Dealers, click the FAE Dealers button located on the website's footer menu. Select the FAE Dealer that best fits for your circumstance and location. You may also contact FAE for a referral. All FAE Dealers are independent contractors who:
- have been in business for at least 10 years
- have had experience handling the sale of artist estates and art collections
- have excellent reputations
The FAE Art Dealer you choose will assess your artistic assets to determine if they meet FAE's eligibility requirements. After the Dealer has explained the FAE system and answered your questions, he or she will select artworks based on their salability, quality, and condition. An FAE Dealer will work with you to develop a campaign strategy to optimize the return on each work of art to be sold.
FAE does not allow artworks to go live on the website until the following conditions are met:
- Seller and Dealer have signed an FAE Seller - Dealer Agreement that's been uploaded to the Seller's Dashboard.
- Seller and Dealer have signed a receipt, for all artworks the Seller has consigned to the Dealer to be sold on FAE, that's been uploaded to the Seller's Dashboard. The receipt identifies each artwork, its start and reserve price, and the Seller's percentage.
- The consigned artworks, listed on the receipt, have been transferred to the Dealer's climate controlled and insured facility.
Once published online, artwork(s) may not be removed from an Art Dealer's facility until the work is sold or has reached the end of its Serrace cycle.
- Unparalleled Transparency for the Seller:
FAE offers sellers a window into the sales process unmatched by any other sales method. We provide each seller with a Dashboard to track every consignment. Sellers will know when a consignment's status is:
- when the record is not yet ready to be published
- when the record is complete and awaiting its Serrace Start time
- when Serrace has published the record on FineArtEstates.com
- when the Serrace schedule has expired
- when a reserve has been canceled by a Buyer
- when an artwork is progressing through the sales process
- when the sale of the artwork is complete
- when the Dealer has returned an artwork to the Seller
PDFs of all documents, including the Seller-Dealer Agreement, and receipts for all consigned artworks are archived on the Seller's Dashboard for easy reference. FAE makes it simple for Sellers to transfer their account to an estate administrator or a third party. A complete record of consignments and sales are saved in each account, allowing both the Seller and estate administrator instant access to the account's transaction history.
- What Other Features make FineArtEstates.com the Right Choice?
FAE is designed for professional art buyers to facilitate working with clients, offering tools and resources to find, track, and acquire works of art for multiple projects. It is also an excellent resource for both the avid and the occasional art collector, bringing a wide range of secondary and estate artworks to market. FAE can handle the sale of a single artwork or an entire private or corporate art collection. It is engineered to utilize the efficiency of the web and the expertise of highly experienced art dealers to make fine art accessible to everyone.
- FAE's free apps facilitate the sales process by allowing Buyers to preview artworks in their home or office, virtually eliminating the time and expense of shipping artworks on approval.
- Because artworks listed on FAE come primarily from artists' estates and art collections, FAE is the “go-to” place for art dealers and collectors, who want to be first to know when artworks enter the marketplace.
- FAE is focused solely on selling works of art and documenting the artists whose work appears on the website. FineArtEstates.com will not become cluttered by advertisements or unrelated news stories.
- FAE Art Dealers are required to insure all consigned artworks and to store them in a secure, climate-controlled facility.
- FAE's unique use of professional art dealers and the Serrace Sales System ensures that each work of art has the best possible chance of selling at or above expectations.
- If an entire artist's estate or an art collection is deemed appropriate for FAE, Sellers can feel confident that they have selected the most transparent and democratic fine art website in existence today.