There are a few options when it comes to selling expensive fine art, and that would certainly include Tiffany Studios lamps. The options are actually not much different than if one was selling a used car or a house full of antiques you might have inherited from a family relative.
1. Auctions: Selling things through auction has been a popular way of disposing of things of all kinds for hundreds of years. These days there are auctioneers and "auction houses" all over the world and in every city of any size. When one is selling art or antiques of any significant value, generally they will look at the larger city auction houses, since they have more money for advertising, they have usually a staff who is more educated in identification, authentication and valuation of items to be sold, and they command a larger bidding audience - in-person, with online bidding in some cases, and through mailed and phone bids.
- Pros: A potentially large audience. The possibility of "auction fever" taking over, which might reap you more than normal for whatever you are selling, and for the large auction houses, huge promotion using catalogs online and in print and other media to preview their sales. Most of the larger auction houses have experts who are able to properly authenticate, identify and assign what they feel to be a fair sales estimate range for a particular lamp.
- Cons: The chance your item will not sell. This is always a risk in the larger auction houses where the owner can put a "reserve price" on their lamp. There is no guarantee of a sale. If the "reserve" price is not met or there are no bids, the owner must decide whether to pay to pack and ship their lamp back, or to give the auction house the permission to sell it at the best price they can get. December 2013 auction sales results for Tiffany Studios lamps at the largest three auction houses in the country was for most people very depressing and surprising. A high percentage of lamps did not sell, or they sold at their low estimates. The only lamps that seemed to do well were the very expensive and very rare examples. Payment to the owner after a successful sale can take up to 90 days, depending on the auction house and other factors. Fees and costs to pack, ship and insure your lamp to the auction house, and other possible fees for photos, insurance and other things while waiting for the sale date can add up to 20% or more of what your lamp sells for, assuming it sells. The large auction houses will only have usually two auctions for Tiffany lamps per year. So if time is an issue, this might pose a problem for you. "Over exposure" of your lamp - from tens of thousands potentially seeing it's photo and price estimate, if it did not sell, can hurt future chances of selling it, or it can force the owner to reduce the price considerably.
2. Consignment: A person can certainly put their Tiffany lamp on consignment with a Tiffany lamp dealer, a general consignment shop or a consignment shop specializing in fine antiques.
- Pros: Depending on where you consign the lamp, it can get very good exposure to a variety of customers over time. You can often negotiate a time period with the consignment shop or dealer. If your lamp has not sold within that time frame, you can then take back your lamp and decide what you wish to do next. Payment is usually stated in the written consignment agreement and for most consignment agreements, the owner is paid in full within 15-45 days.
- Cons: Failure for your lamp to sell within whatever time period is in your agreement. Over-exposure of your lamp, which might make you or someone else selling it later more difficult. Possible expense for appropriate insurance on the lamp since is out of your home and being offered for sale. Not getting as much exposure as you had hoped or as had been promised.
3. Selling It Yourself On eBay, Or Through A Classified Ad: This is a rather difficult way to sell any expensive item, especially an antique.
- Pros: You will probably "net" more, assuming you did not have high expenses in advertising it well. You will know within a week or ten days at most whether it is going to sell or not.
- Cons: You are placing yourself in the position of appraiser, authentication expert and salesperson. If you are 100% certain your lamp is authentic, you still need to know a realistic and fair price to ask. If you price it too high it won't sell. If you price it too low, you won't get a fair price for yourself. You also have to deal with how to describe it, what to charge for packing and shipping (unless the buyers come to your home to look at it) and if it does sell, you will have fees to pay. If it does not sell, then you are back at "square one."
4. Selling Using a Private Expert "Broker" or Agent: I have a bias here of course, since this is what I do. I still believe, after forty years of experience, that in most cases, this can be the best way to guarantee both a sale and a specific net price to the seller, with very little risk.
- Pros: With my firm, you are guaranteed a sale and a specific "net" price to you. You maintain physical possession of your lamp (s) until you are paid in full. You are paid within seven business days by electronic bank funds deposit to your bank account. There are no issues with insurance or shipping. You pay no fees to me for anything. The way I work, I take a "finder's fee" from the buyer, which usually amounts to 5-8% of the sales price - price paid to you. Once the lamp is sold and you are paid, I help you arrange for packing and shipping and within 3-5 days the lamp is packed and shipped and everything is done in a neat and organized manner. I also will never "over expose" your lamp, divulge your name or in any way discuss the details of the sale with anyone but the seller.
- Cons: There are a very few lamps I agree to sell for someone which, after a week or two I find I cannot sell for some odd reason. Occasionally I will ask the owner if I can reduce the asking price to see if that is the problem. I do this rarely, but sometimes lowering a price by as little as $500-1000. makes the difference. Other times I simply cannot find a buyer. It is rare - perhaps 2% of the many lamps I have ever taken went unsold. In today's world, anything is possible. You must be able to take your lamp to a UPS or Federal Express store after you are paid, so it can be packed professionally (at no cost to you) and shipped off. If your town does not have one of those places (most cities of 10,000 population or more have one of these places) you might need to drive to the closest city to you to deliver the lamp for packing and shipping. Usually only 1-2 times a year do I have a client who doesn't have a UPS Store or Federal Express packing store in their city. So while this is a possible downside, it is very rare.
In summary, there are many ways a person can sell their Tiffany Studios lamp. Depending on a person's financial and time situation, one method might seem much better than the others. Regardless of which method you choose, always be sure to have a very good, detailed, signed contract or agreement with whoever is helping you sell your lamp. I also suggest that you ask for business references from anyone you entrust to sell your lamp (s).
More to come...
Dennis
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