Choosing the Right Approach to Selling a Work of Art

When considering the sale of a significant work of art, the question is not simply where it might be sold, but how it should be positioned.

Different works require different approaches. In some cases, a public auction may be appropriate. In others, a more discreet, privately negotiated sale may lead to a more favorable outcome.

Understanding the distinction is often the difference between a satisfactory result and a considered one.

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The Public Auction

Public auctions are the most widely recognized segment of the art market, in part because results are visible and often reported. In certain instances, auctions may yield favorable results, particularly when a work happens to meet active demand within a limited timeframe.

There are, however, several factors that merit careful consideration.

A consignment is tied to a fixed sale date, which necessarily limits the time available to identify the most appropriate buyer. Estimates are published in advance to guide bidding, and while they serve an important purpose, they can also shape market perception in ways that may not fully reflect a work’s potential.

While highly visible results are often reported, they represent only a portion of auction activity. Outcomes can vary, and not all works achieve their estimates or sell. In addition, the buyer’s premium and associated fees—paid by the purchaser—are often included in publicly reported totals, which can give a different impression than the seller’s net result.

For these reasons, a public sale is best approached with a clear understanding of both its advantages and its limitations, particularly as prior outcomes can influence how a work is perceived if it is later reintroduced to the market.

Private Placement

Many important works are sold outside of the auction setting through private transactions. These sales are conducted discreetly and without the constraints of a public timetable.

This approach allows for a more considered process. A work can be evaluated and presented with the benefit of time, and introduced directly to collectors or institutions for whom it is particularly well suited.

In our experience, beginning with a private offering often provides the most measured path. It allows the work to be properly positioned, evaluated in context, and presented without the pressure of a fixed deadline.

Pricing is established through careful analysis rather than predetermined estimates, and discussions can unfold in a manner that reflects both the significance of the work and the intentions of the owner.

Confidentiality is often a central consideration. Private sales are not publicly reported, which can be especially important for collectors, families, and estates.

Discretion also allows a work to be presented selectively without creating a public record of who has been approached or who may have chosen not to proceed. As a result, the work remains “fresh” to the marketplace, and its positioning is not affected by prior exposure.

By contrast, in a public setting, outcomes and participation become part of the record. If a work does not sell at auction, or is later reoffered, estimates are often adjusted to reflect prior results, which can introduce a degree of downward pressure on expectations. A private approach avoids this dynamic and allows the work to be evaluated on its own merits at each stage.

It is also worth noting that many of the most significant transactions in the art market occur privately and are never publicly disclosed.

A Considered Sequence

There is no single method that is universally appropriate. However, in many cases, a thoughtful sequence can be beneficial.

A work may first be offered privately, allowing time to identify the most appropriate buyer and to explore the full extent of its market potential. If timing becomes a more pressing consideration, a public auction can then be pursued as a secondary step.

This approach preserves optionality while avoiding the constraints of committing prematurely to a fixed sale date.

Our Approach

At Kodner Gallery, we advise collectors, families, and fiduciaries with a focus on clarity and discretion. Each work is considered individually, with attention to its history, condition, and place within the current market.

In many instances, we recommend beginning with a private placement, allowing for a more deliberate and informed process. Where circumstances warrant, we may also advise that auction be considered at a later stage.

Our role is to provide a thoughtful assessment so that each decision is made with confidence and in alignment with the client’s objectives.

Confidential Consultation

If you are considering the sale of a painting or collection, we would be pleased to offer a professional opinion.

All inquiries are handled in strict confidence.

Call: 314.993.4477  or 800.993.4478

Text (for images): 314.514.4343