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In response to changes in business and the downsizing of facilities, Arthur Andersen needed to sell its art collection with the highest profitability in the shortest amount of time. After considering the options of auction or donation, a public sale of investment level artwork seemed to provide the company the greatest benefits and maximum control over the process. Artwork was priced to appeal to both the dealer and the private art collector…somewhere between retail and wholesale pricing. Utilizing a low cost strategic marketing plan consisting of direct mail, email, print ads and press interviews, we assisted the company in assembling, valuing, promoting and selling over 800 works of art for far more than expected. 93% of the items were sold and all works were sold for an average of 80% of the asking price within a 4-5 day sale timeframe. By targeting many different groups of potential buyers and offering special
opportunities to high volume and institutional buyers, this format provided
a sound opportunity to sell the larger group of less important works in
addition to the high-end items usually favored by auction houses. |
Arthur
Andersen Art Collection Sale