To sell or not to sell – that is the question

In 2016 a pensioner of Pietermaritzburg received an unexpected windfall when she took a painting to one of Strauss & Co’s valuation days. The painting ‘Sunflowers’ was authenticated as a true Tretchikoff and given a realistic estimate of between R400 000 and 600 000. During the company’s May 2016 auction the painting exceeded all expectations and reached a final hammer price of R1.7 million.

Choosing the right auction house to appraise an art collection gives collectors and consignors peace of mind, knowing that they will receive the most realistic estimate of the value of their artwork. They are also comforted by the knowledge that a documented appraisal done by a reputable art auction house will give them a sound idea of what the work might fetch if they decide to sell, and what to insure it for if they have no intention of selling.

South African art auction house Strauss & Co has established itself as the global leader for South African art at auction. Its team of experts is knowledgeable in modern, post-war and contemporary art and the decorative arts, including Cape furniture, historical silverware, collectable jewellery and Chinese and Japanese ceramics, and offers expert appraisals. In addition, the company is also a leader in the resale of collectable South African and international fine wines.

“Every Strauss & Co art specialist has years of experience in the field,” says Strauss & Co senior art specialist Wilhelm van Rensburg, “and is able to advise not only on value but also on what is trending, when to sell, and how to build and care for a collection.”

“We also have a wealth of technical knowledge to assess the condition and particular conservation requirements for a range of different art mediums, and have access to international databases to track auction precedent for works by the same artist, of similar size, date, medium and quality. We have resources to trace the origin or provenance of an artwork, in many cases, and its exhibition history if there is one. We consult forensic experts at leading tertiary institutions to conduct scientific testing when necessary, and constantly talk to artists, academics, gallerists and independent art and antique experts with a lifetime in the art world to find out more about the works we sell and to contextualise them in the broader South African art history.

“At Strauss & Co we also pride ourselves on an excellent sell-through rate – one of the many important considerations when choosing an auction house,” Van Rensburg explains. The sell-through rate measures the percentage of successful sales, relative to the number of works consigned to an auction. “If a collector wants to sell, he or she wants to ensure the very best chance of finding a buyer. Some of our auction sell-through rates are in the high 90% range, which bears testimony to our ability to secure successful sales for our consignors.”

Most recently, the auction house held a historic single artist auction dedicated to the works of JH Pierneef, which achieved white-glove status, a perfect, sold-out auction. The company also boasts several world records for blue-chip South African artists, including Pierneef, Alexis Preller and sculptor Anton van Wouw – a testament to its ability to secure the best hammer prices for its consignors.

“Over the past year-and-a-half we’ve seen enormous interest from new demographic groups, young digital natives who are just starting out as art investors, and international collectors interested in expanding their portfolio to include African artists. And our established client base of art connoisseurs still trusts us to consign and sell on their behalf, and procure new, exciting pieces for their collections,” says Frank Kilbourn, chairman of Strauss & Co.

Their company’s expanded digital presence, online valuation tool, and broadcast virtual live auctions have expanded the company’s exposure to international art collectors. “We used to say that overseas we primarily sold South African art to ex-pats – but we’re beyond that now. We’re selling to people from all over the world who are interested in art from the continent,” says Susie Goodman, executive director at Strauss & Co.

5 Ways to Value your Artwork

Are you thinking of selling an heirloom, artwork or collectable item? Are you looking for an accurate estimate for insurance purposes? Strauss & Co offers free, no-obligation valuations:

Submit your art online

Visit the company’s website at www.straussart.co.za and complete the online valuation form, upload images of the artwork, and submit.

Or send an e-mail to jhb@straussart.co.za or ct@straussart.co.za. Include measurements and images of the item in your request for a valuation and a Strauss & Co specialist will get back to you.

Submit via the app

Download the Strauss & Co app from the Apple and Google Play store on your smart device and follow the instructions to obtain an assessment of the value of your artwork.

Attend a valuation day

The company regularly hosts valuation days at major centres throughout South Africa. Bring us your artwork or collectable item and a Strauss & Co specialist will provide an auction estimate or insurance valuation.

Make a face-to-face appointment

Strauss & Co has offices in Johannesburg and Cape Town. Make an appointment for a face-to-face consultation with one of our specialists.

Arrange a house visit

Strauss & Co’s art specialists do house visits for large collections, deceased estates, and clients with high-value items. Contact the Johannesburg or Cape Town office to arrange a visit.

Johannesburg office

Tel: 011 728 8246

e-mail: jhb@straussart.co.za

Cape Town

Tel: 021 683 6560

e-mail: ct@straussart.co.za

Remember!

Cover all the angles

Take clear, focused photos with your phone or camera to upload online or to the app. Take a photo of the artist’s signature, if there is one, and any numbers or labels on the work, as well as a photo of the back of the work.

Knowledge is power (and profit)

Submit as much information as possible – when and how did you obtain the item? Do you still have a purchase receipt or invoice? Has the item appeared in a newspaper article or in a book on the artist? Upload all relevant documentation or bring it with you if you have an appointment with an art specialist or are attending a valuation day.