When selling fine art, including prints, editions, and blue-chip multiples, choosing the right platform can significantly impact your returns. Whether you're selling through a traditional auction house, online auction platforms like Artsy or Artnet, or a gallery, each option comes with its own set of fees, processes, and market expectations.

Selling Art at Auction

Auction houses like Sotheby’s, Christie’s, and Phillips are some of the most traditional platforms for selling fine art, prints, and multiples. While they offer global reach, the fees and complexity of the auction process can significantly reduce your final returns.

Can’t My Art Sell for a Lot More at Auction?

Many sellers wonder if they could make more by selling at auction due to competitive bidding. While auctions sometimes see prices beyond estimates, today’s well-informed buyers keep price extremes in check. Modern collectors use tools like Artnet, Artsy, and auction house databases to research:

• Past sales of similar works.
• Artist market performance.
• Real-time pricing trends.

This access to data means that buyers rarely overbid, limiting the chance of a bidding war resulting in a high sale. Even if bidding pushes prices up, auction houses impose additional premiums on sellers, which can further reduce your profit.

Key Auction Terms to Know:

• Hammer Price: The final bid accepted by the auctioneer when the hammer falls. This does not include additional fees.
• Buyer’s Premium: A fee added on top of the hammer price, paid by the buyer to the auction house. This premium typically ranges from 20-30%.
• Seller’s Fee: A commission paid by the seller to the auction house, usually between 10-25% of the hammer price.
• Reserve Price: The minimum price the seller is willing to accept. Auction houses often encourage sellers to set a low reserve to stimulate bidding, but this can lead to lower-than-expected final prices.
• Additional Fees: On top of the seller’s fee, auction houses often charge for marketing, photography, shipping, and storage, which can add 5-10% to your costs.

The Risk of "Burning" Pieces

• If your artwork fails to sell or "passes" at auction, it may be considered “burnt,” meaning its market value can decline. Since condition reports and edition numbers are listed and made public record, future potential buyers might view it as undesirable, further reducing its chances of selling at a good price.

What You Really Make at Auction

Let’s say your artwork sells for $125,000 at auction. Here’s how the math works out:

• Hammer Price: $100,000
• Buyer’s Premium: Auction houses typically charge the buyer an additional 25%. So, the buyer will actually pay $125,000 in total, but the hammer price remains $100,000.
• Seller’s Fee: As the seller, you pay 15% of the hammer price, which equals $15,000.
• Additional Fees: You may also be charged an additional 5-7% for shipping, marketing, and photography, which could total around $7,000.

In the end, after paying these fees, you would walk away with approximately $78,000. That’s only 62% of the price you saw your artwork sell for at auction.

Time to Sell at Auction

Selling art at auction is not a quick process. From the moment you consign your artwork to an auction house, it typically takes 3-6 months for your piece to be listed in an auction. Once the auction is complete, there can be additional delays in receiving payment, often adding up to six months or more before you are paid. This is in stark contrast to faster options available elsewhere.

Selling Art via Online Auction & Platforms

Online auction platforms like Artsy and Artnet are a modern alternative to traditional auction houses, offering sellers a way to reach global buyers through the internet. While these platforms have lower fees, they often lack the prestige of auction houses like Christie’s or Sotheby’s, which can result in lower final sales prices.

Boutique Services, Convenience, and Security

Online platforms are a great addition to the art ecosystem, removing many of the pain points of selling at auction with boutique services, professional logistics, and advisors who have worked at auction houses. They make the process extremely easy and convenient. However, while they offer safety and security, there are other ways to achieve the same level of service while making 20-25% more through gallery consignments.

The Process & Fees

• Buyer’s Premium: Like traditional auction houses, platforms such as Artsy and Artnet still charge a buyer’s premium of around 25%.
• Seller’s Fee: Sellers can expect to pay 5-15% in fees, which are lower than traditional auctions.
• Lower Sales Prices: Without the brand prestige of major auction houses, artworks, especially prints, editions, and blue-chip multiples, may sell for less than they would at a high-end auction. Additionally, since condition reports and edition numbers are listed, they become public record. There’s also a higher risk of a work failing to sell or “passing,” which can harm the future market value of the piece by making it appear less desirable.

Zero-Fee Platforms

Some online platforms advertise zero-fee selling, meaning you won’t pay any upfront costs for marketing or promotion. However, these platforms often sell works at wholesale auction prices, meaning you only receive the hammer price—what you’d make after selling at auction, avoiding a 10-15% seller's fee, but still receiving less overall due to wholesale pricing.

Zero-fee platforms may seem appealing, but the final price you receive often mirrors the net result at auction, and these platforms typically net you 15-20% less than selling through a gallery, which sells at retail prices.

Selling Art via Galleries

Selling through a gallery can offer more control, personal attention, and higher sale prices compared to auctions or online platforms. High-end galleries focus on selling at retail prices, allowing you to maximize your returns.

Gallery Process:

1. Valuation & Consignment: Galleries provide an expert valuation and consignment agreement, which typically includes a mutually agreed-upon retail price.
2. Marketing & Exposure: Galleries promote your artwork through exhibitions, online listings, and their network of high-profile collectors. They often handle all the logistics, including shipping and insurance.
3. Fees: Galleries charge a consignment fee ranging from 20-40% of the final sale price, but unlike auctions, galleries often aim for retail prices, allowing you to earn more.

Pros:

• Higher returns through retail pricing, often 10-30% more than auctions.
• Personal attention and targeted marketing to collectors.
• Galleries handle all logistics, including insured shipping.

Cons:

• Consignment fees are 20-40%, which can be high.
• Sales may take time, depending on buyer interest and exhibition schedules.
• Many Galleries are localized and don't offer streamlined logistics

Why Choose Mimesis Gallery?

At Mimesis Gallery, we provide a tailored strategy to meet your selling needs through two flexible solutions: instant cash offers and boutique consignment options. Both are designed to maximize your artwork’s value while delivering unmatched service. Here’s why Mimesis stands out:

Immediate Payment and Time Savings

• With our instant cash offers, you can receive payment within 72 hours of artwork inspection. We offer what you would typically make at auction, but save you 3-6 months of waiting for the sale and payout.

Consignment for Higher Returns

• Our 60-day consignment option allows you to sell at retail prices, earning 25-40% more than auction or online brokers. You benefit from transparent, all-inclusive fees without the unpredictable auction process.

Transparent Fees and No Hidden Costs

• At Mimesis, we provide zero fees for cash offers and transparent consignment fees. We cover all marketing, insured shipping, and escrow services, ensuring there are no hidden costs. You only pay for initial shipping to our partner facility, and we deduct that from your final payout.

White-Glove Service & Logistics

• We handle all logistics, from arranging pickup to secure shipping, so you don’t have to worry. Our trusted partners, who work with major institutions like MoMA and the Tate, guarantee that your artwork is handled with the utmost care. Every sale includes third-party escrow services to ensure a seamless, secure transaction.

By choosing Mimesis Gallery, you get tailored, flexible options that ensure the highest value for your fine art, whether you prefer an immediate sale or a curated consignment.