Complete the contact form and include clear images of the front, signature and back of the artwork. Also include dimensions of the actual artwork itself, not including any framing or matting.
Once we establish the value of the artwork based on a completed contact form, we will send you a contract to complete. The contract will explain the amount to be paid, services to be provided (e.g. shipping) and legal obligations on both the seller and buyer (Geringer Art). After the contract is signed and returned, bank wire information will be requested in a secure manner. Payment will be made by Geringer Art, and immediately upon receipt of funds, artwork will be shipped according to agreed upon instructions.
Geringer Art was incorporated in 1995 and has an exceptional track record of providing fair value to clients for their artworks. You can call, text, e-mail or otherwise contact us 24 hours a day to have your questions and concerns discussed and answered.
If the artwork was inherited, we will help refer you to a licensed appraiser to get a Cost Basis Appraisal. This will establish the value of the artwork at the time it was inherited, and normally taxes will only be due on any amount you receive above the that value. If not inherited, profit on the artwork will normally be taxed according to your tax rate. We are not accountants and would always refer you to seek professional advice from an accountant in your particular situation.
Auctions seem like a fun idea, but the reality is you will have to agree on a reserve which is usually lower than the actual value of the artwork. Auctions get a Buyer’s Premium on the Hammer Price (what the item sells for in the room or on-line) which you get none of. They will also charge you a commission (usually 10% or more) of what the items hammers for, as well as fees for insurance, photography, performance fees, etc. We generally estimate you will receive about 65% of the final price (e.g. an items sells for $100,000, including buyer’s premium, you will receive about $65,000.
Auctions can also take a long time before they occur and even longer for clients to pay and you to receive your funds. There is no guarantee at what price the item will sell, or if it will sell at all. If they item remains unsold, the value will decrease tremendously as the unsold item will be advertised on many auction result platforms.
We pay a fair price for your artwork(s) based on auction expectations and you are paid immediately with no risk.
We can assist in getting your item(s) to the best possible auction for a small fee (usually 5 to 10 percent depending on value). You pay us nothing and we will insure and ship your item to the best auction for the artwork depending on its origin and value. Shipping to auction can cost you thousands or tens of thousands of dollars in shipping and insurance costs. We won’t get paid until the item is successfully auctioned, and you can usually watch the actual auction on line.
Someone always makes money on your artwork as sellers rarely are in contact with the ultimate private buyer. While most galleries are reputable, many are not. You may never know when the art work is sold and what the actual price it was sold for. Many dealers may sell your artwork for your agreed upon price, and then try to renegotiate with you as if the sale was still pending. We pay you a fair price up front and you don’t have to expose yourself to possible fraud or deceit from an unscrupulous dealer.
When the contract is signed and payment made, we will either have a professional service pick up and pack your artwork at its current location or have you bring the art work to a UPS/Fedex location to have it shipped. We will pay for the shipping and are self-insured, so no additional insurance will be necessary (most shippers charge 1.5% or more, which can add up to thousands of dollars for insurance alone). We will provide the address for shipping and handle direct payment to the packer/shipper.
You can choose to represent the collective owners of an artwork or have each sign the contract individually. In the case of representation, you will be signing the contract which states you are authorized to sell the artwork and pass title to the buyer.
Once we receive the artwork and verify its authenticity, you are free to spend the payment received from us. You will certify on the contract that the artwork is original, not a print or copy, and in good condition (unless problems with condition have been discussed and agreed upon in the sale price). If the item is not genuine (e.g. considered by us a forgery, copy, print or condition not as described), the seller will return payment upon receipt of the returned artwork.
We are very careful in our pre-purchase examination of the artwork, so return to seller is an extremely rare occurrence.
While there are many fraud motivated individuals on the internet, Geringer Art has been doing business since 1995 and never received any negative feedback. We will take the utmost caution in receiving and protecting your personal data associated with the transaction and sale of your artwork.
