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Nora, Expert in Fine & Decorative Arts: Renaissance through Contemporary
Category: Appraisals
Satisfied Customers: 12538
Experience:  Liberal Arts BA College Degree, Post-Graduate Christie's Education in London, 10 Yrs Art World Experience in NYC, President & Founder own Corporation. Member AOA & ISA USPAP Compliant through 2019
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I have a couch size painting that Miccio said that he

Customer Question

I have a couch size painting that Lance Miccio said that he painted when in art school at Slade school in England. He has been exhibited quite a few times, etc. and he's told me that his estimate for the piece is in excess of $20K, but I want to see if that's right, or maybe not so much. I want to consign, and/or sell it, and I'm fine if it's a lot less than $20K. The name of the piece is the orange ball and it depicts a couple sitting on a bench with a dog. I could send you a photo.
Submitted: 1 year ago.
Category: Appraisals
Customer: replied 1 year ago.
Also, where's the best place (gallery, etc) to sell it or consign it?
Expert:  Nora replied 1 year ago.


In this case, the artist does not have an established auction record to show that his market is willing to pay in excess of $20K for his works. As an artist, he would certainly like to price his works at that level and a collector would purchase such as a speculation without guarantee of return on investment. It is unusual, for the most part, in the art market for a painting done during schooling or academic studies to sell for higher than a work that exhibited after the artist has established themself in the market after graduation. As the owner of the work yourself, you have the privilege to ask any price you want for an item you own; the key factor is finding a willing buyer at your pricepoint. You may want to try to sell this through Art galleries tend to sell only artists on their roster. You can also try to consign the painting to an auction house in a large city near you; that will help to begin to set an auction market for the artist himself, however it would not be likely to achieve bids near $20K.

Please let me know if I can be of further assistance on this painting for you.


Customer: replied 1 year ago.
You didn't tell me what you thought the actual value was. Can you give that estimated value? I'm not a specialist, and was hoping to get a more definite answer about where to price it.
Expert:  Nora replied 1 year ago.


Since there are no precedents on auction sales, then the value is what someone will pay for it, and that can be whatever price you place on it. Value in the art world is perceived and not absolute. To the artist, the perceived value of his own work is $20,000+. Based on the general art market, the auction value, with no preceding record as a benchmark, the sale value (if you you were not to set an asking price yourself) would be under $400.