10 BEST: Collection Management Software

Contact us now to receive your free copy: sara@kennedyfineart.ch

We were recently asked by a client to optimize the management of their collection comprising of several hundred works of art.

As we were unable to find a comparative of the best softwares currently available on the market, we at Kennedy Fine Art decided to carry out our own.

We started by selecting 10 of the best products and then devised a comparative analysis based on 20 key user-criteria, including:

  • MAC/PC compatibility
  • Data Security
  • App Availability
  • Data Transfer efficiency
  • On-line IT Support

At Kennedy Fine Art, we know that each art collection is unique and comes with its own specific needs and requirements. Yet, no matter what the size of your collection, a well-chosen management tool can give you a clear vision and new found accessibility to your works.

Today’s software offers an incredible range of time-saving tools, including shipment quotes, values at a glance, categorising by theme, location or technique, as well as instant access to stored data such as invoices or condition reports.

Kennedy Fine Art now offers a specialised service dedicated to identifying the ideal software for your collection, data transfer and management.

Contact us now to receive your free copy of the KFA Software Comparison: sara@kennedyfineart.ch

10 TIPS: An Essential Guide to Selling Your Art Works

Emilie Ding. Burning, 2011, graphite et techniques mixtes sur papier, 206 x 98 cm

Contact our specialist, Nadja Froidevaux, today for an expert opinion on how best to sell your art work : nadja@kennedyfineart.ch

1. KNOW THE VALUE OF YOUR ART

It is important to begin by establishing the current market value of your work. This can be done by carrying out your own research on public search engines such as Artnet.com or ArtPrice.com. Another option is to contact the gallery who sold you the piece and who may be able to give you up-to-date selling prices. Alternatively you could ask an auction house or dealer for an estimate. If you prefer to retain confidentiality, then an independant art advisory, such as Kennedy Fine Art, can give expert advice on current market value without exposing your work or collection.

2. KNOW YOUR MARKET

The second step to take into consideration is finding the best platform for the sale of you work. Certain pieces may achieve a better price through private, rather than public sale, or indeed the opposite can be true. It all depends on the primary/secondary market dynamics of the particular artist’s market. Furthermore, some works will naturally sell better in a specific geographical location, such as London or New York, whereas other artists’ market remain highly regional.

3. KNOW YOUR OPTIONS

There are two main options for the resale of your art work. Firstly, the public auction sector. Today’s seller has the choice between three major ‘brick & mortar’ auction house – Christie’s, Sotheby’s and Phillips, plus an international network of regional houses. Furthermore, on-line auction houses, such as Paddle 8 are increasingly establishing themselves as a viable option in the $1’000-100’000 price bracket. The second option is the private resale market, which includes galleries, dealers and art advisors.

4. COMMISSIONS

Generally auction houses will begin commission charges at 10% and decrease in terms of the value or desirability of the work. The major auction houses then charge a Buyer’s Premium to the purchaser (main auction houses : 25% up $100’000, 20% up to $2m, 12% beyond). However there are also added costs involved, such as shipping, insurance and catalogue illustration. Commissions charged by on-line auction companies are generally lower for buyers and sellers, due to reduced over-heads. With regards to private resale, a sale price will be pre-agreed upon, from which no seller commission is deducted. The gallery/dealer/advisor, then finds a buyer and takes their commission from the margin made on the final sale price.

5. TRANSPORT

One of the main advantages of on-line auctions houses today is that they do not require the work to be physically moved to the sale venue. This saves on costs, insurance and risk of damage during transport. For higher value works, some ‘brick & mortar’ auctions houses will offer transport costs as part of a negotiated sale package. With regards to the private resale market, the intermediary may offer to cover the transport and insurance costs of the work to be shown in their gallery or during an art fair. Alternatively, in the case of some private deals, the work is only moved for viewing at a neutral venue and these costs are covered by the future buyer or intermediary.

6. TIME

One of the key factors in the selling of an art work is often time. Auction houses give you the possibility to offer a lot on a specific date at a specific time. Generally works need to be consigned 2 months before the sale date in order to allow for the catalogue to be produced and sent out to clients. However, once on the block, the work either sells or is bought-in (unsold). In some cases, an unsold piece is subsequently sold through an after-sale offer, often at a discount. Otherwise it is returned to the client. In the case of private resale, the work is usually placed under consignment for a period of time (3 – 6 months) or perhaps for inclusion in a specific exhibition or art fair. If the work does not find a buyer during this period, it is returned to the owner, or the contract can be renewed.

7. DOCUMENTS

It is important to always keep a good record of the documents linked to your art work. Keeping a record of the purchase invoice can not only provide information on the initial cost price, but also, in some cases, serve as a form of authentication. In other cases, you may have received a certificate which is vital to be kept in your archives. It is also interesting to keep any catalogues in which the work is reproduced as this can be useful for documenting the work’s provenance if it should come to sale.

8. CONDITION REPORT

It is always recommended to have a condition report carried out on your work before any sales transaction takes place. If your work is being transported, ask the shipper to check the piece with you before it is packaged and leaves your house. This can avoid headaches later down the road. In the case of auction houses, they will provide condition reports to clients, but it must be noted that these are not carried out by professional restorers and buyer’s beware. In the case of the private market, a good intermediary will always have a condition report prepared by a professional conservater before conclusion of a sale.

9. COLLECTIONS

In some cases, a collector will have not one piece to sell, but an entire collection. In this situation it is worth consulting with an art advisory who will act an independant market expert, anaylsing the optimal market approach and handling the negotiation of advantageous terms for you with the major auction houses or secondary market professionals. Not all works from the collection may have the same value, it is therefore important to look at the best options for all the elements in the collection, while leveraging the global value to get the best sales terms from vendors.

10. NO REGRETS

The most essential part of the selling process is that when you have made a considered decision on how to sell your work, that you sign on with no regrets. Markets can change, the work you were so happy to have sold two years ago is now worth three times the value. Or perhaps you find that an auction result was dissappointing, even though it sold within the estimate.

Once the decision has been made, it is time to move on. There will always be other works and other opportunities, best to learn and move on!

Contact our specialist, Nadja Froidevaux, today for an expert opinion on how best to sell your art work : nadja@kennedyfineart.ch

2ND ANNIVERSARY:New Team Members

This month Kennedy Fine Art celebrates two years of existence. Since its creation in September 2013, Kennedy Fine Art has worked with collectors of all categories – from those just starting to buy their first works, to connaisseurs looking for very specific pieces.

In parallel to our advisory service, we have brokered important transactions for major collections and funds. The company has also established a reputation for providing a discreet and highly professional valuation service, counting banks and financial services providers amongst our clientele.

To respond to this increasing demand, we are delighted to welcome two new teams members. Both Nadja and Sara bring their passion to the company, sharing our values of excellence and dedication to our clients needs.

1) NEW ASSOCIATE SPECIALIST

We are delighted to announce the arrival of Nadja Froidevaux as Associate Specialist on the 1st October. Nadja joins us from Rothschild Private Bank where she was in charge of Art Advisory Services from February 2012 until the present. Previous to this, Nadja acquired professional experience in several international auction houses, including Christie’s and Sotheby’s.

Nadja will bring her knowledge and skills to our art advisory, valuations and private sales services.

© Annik Wetter©Annik Wetter

2) NEW OFFICE MANAGER
After completing a six-month internship with KFA, Sara Bhasin has joined the team as Office Manager. Sara has a Masters degree in Art History & Design from the Pratt Institute, New York, as well as various gallery experience.

Sara will be in charge of administration, as well as the coordination of the KFA Project Space.

© Annik Wetter©Annik Wetter

FIND OUT MORE ABOUT HOW WE CAN HELP WITH YOUR COLLECTING NEEDS:

MARCO SCORTI – CLAUSTRA – 4th June – 4th September 2015

Marco Scorti. Six heures de chaleur, 2015, gouache et tempera sur papier, 24 x 32 cm

KENNEDY FINE ART – PROJECT SPACE
7 rue du Mont-Blanc, 1201 Geneva
4th June – 4th September 2015, by appointment
Contact : info@kennedyfineart.ch

The inspiration for Marco Scorti’s body of work can be found on the border of urban society, in the valleys and forests that surround our cities, in the intermediate zones where dominant human presence seems strangely foreign. Largely based on memory, Scorti’s paintings, which can reach monumental scale, investigate landscape, not as a romantic representation of the ‘other’, but rather as an element of composition in its own right. Continue reading…

ART LUNCH: Three Studies of Lucian Freud, Francis Bacon

On Friday 29th May 2015, Katie Kennedy Perez, Director of KFA, was invited by the Cercle des Menus Plaisirs – a Geneva-based Art Education Program – to give a conference on “Three Studies of Lucian Freud”, 1969, by Francis Bacon. The talk was part of the lunch-time cycle of conferences, where art experts are invited to explore in-depth a major work of art history in a 1 hour timeframe.

 

APRIL NEWSLETTER 2015: 5 Ways To Add Value To Your Art Collection

1. KEEP GOOD ARCHIVES
It is important to keep purchase invoices, artist dossiers, certificates and all other documents relating to your artwork. These papers will be essential if you should decide to sell a work. In some cases, the work can lose all value without the certificate. Also note, that for some artists the purchase invoice is given in lieu of a certificate.

2. START AN INVENTORY
Not all collections require an inventory. However, there is a growing number of on-line solutions that can increase the enjoyment of your collection. How many times have you wanted to show ‘that picture’ of a new purchase and had to search through your i-phone… Contact us for advice on latest solutions.

3. BUILD A THEME
Sometimes the whole can be greater than the sum of its parts. The same can be said for art collections. Building a collection around a theme, be it art historical (ie. the Zero Movement), a specific medium (sculpture, video),  a concept (Time, Urbanisation or Music) or geography (French-Swiss contemporary artists), allows the collector to specialize in one area and to become a reference.

4. PARTICIPATE IN A VIP PROGRAM
Art fairs and museums are increasingly looking for private collections to add to their VIP Visits program. Although this may not be to everyone’s taste, if organized well, it can be an enriching experience for the collector to share his works and vision with fellow art lovers.

5. LOAN ART WORKS
You may be contacted by galleries or institutions for the loan of your art work for an exhibition. Your work may have been requested by the artist or a curator in order to illustrate an important aspect of their work. Lending art to institutions can add value to the piece, especially if it is included in the exhibition catalogue.


NEW WORKS AVAILABLE AT KENNEDY FINE ART :

We are excited to have on consignment for sale two iconic works by the world famous fashion photographer, Richard Avedon.

These photographs from a private Swiss collection can be viewed by appointment at our Geneva office, located at 7 rue du Mont Blanc 1201 Geneva.
Please contact us for more details : sara@kennedyfineart.ch

(See Image Above)
Richard Avedon
Verushka, dress by Bill Blass, New York, January 1967, 1967
Gelatin Silver Print
61 x 50.8cm
Edition of 50 + 5AP


Richard Avedon
Twiggy, Hair by Ara Gallant, Paris Studio 1968, 1968
Gelatin Silver Print
50.8 x 61 cm
Edition of 50 + 5AP

FEBRUARY NEWSLETTER 2015: 6 Reasons A Corporate Art Collection Makes Perfect Business Sense

1. CORE VALUES & IDENTITY
Corporate values such as innovation, forward-thinking or savoir-faire can be expressed through a clearly defined collection.

2. UNIQUE CLIENT EXPERIENCE
An art collection can have a positive impact on visitors, distinguishing your client experience from that of competitors.

3. MARKETING TOOL
The collection can be used for any number of marketing strategies: client events, marketing material, communication through loans or exhibitions.

4. STIMULATE YOUR PERSONNEL
A corporate art collection creates a dynamic work environment. Contact with art promotes creativity, increases activity and encourages communication between employees.

5. CORPORATE RESPONSIBILITY
Companies have increased obligations to support cultural and social projects. A clearly defined art collection can be an integral part of this.

6. INVESTMENT
Although a collection is not purely intended as a financial investment, an intelligent acquisition policy can have a positive return on the balance sheet over time.

JANUARY NEWSLETTER 2015: 6 Things To Know About KFA In 2015

1. KFA has moved!
Look forward to discovering private exhibitions in the rue du Mont-Blanc offices in 2015.

2. KFA has a new Facebook page.
Finally an easy way to follow our art world discoveries as they happen: https://www.facebook.com/kennedyfineart

3. KFA has a new team member.
Sara Bhasin joins us after studying Art History at the Pratt Institute in New York.

4. KFA is expanding our specialization in Corporate Art Collections.
In 2015 we will build unique art collections for law firms, banks and large corporations.

5. KFA continues to offer an expert valuation service.
We provide multi-purpose valuations for banks, insurance companies and collectors.

6. KFA offers a unique advisory commission for gallery purchases.
We offer a transparent formula that saves you money. Contact us to find out more.