$4.5 Million Sale of Master Impressionist Work
A remarkable collection had a particularly coveted piece: Mary Cassatt's A Goodnight Hug from 1880. This striking work on paper had excellent provenance, condition and prestigious exhibitions, including the official 1881 Impressionist exhibition in Paris. Art Market Liaison's efforts completely eliminated the full seller's fees and secured its key placement in Sotheby's Impressionist Evening Sale - a rare benefit for an American Impressionist artist. This placement allowed the work to be cross-promoted to multiple categories of collectors and drew extraordinary interest.
Originally listed with a high estimate of $1 million, this work on paper set a new record for the artist when it sold for $4.5 million. Art Market Liaison reduced total seller’s fee by 100 percent.
Unprecedented Return for One Little Gem
While Art Market Liaison coordinated several successful sales for these bicoastal collectors, they celebrated a remarkable return on investment on this single work, in particular. An initial estimate in a U.S. auction venue suggested that Japanese artist Yoshitomo Nara’s The Little Pilgrim (Night Walking) was worth $10,000. This figure did not seem to square with Nara’s impressive auction history. Art Market Liaison researched the global secondary market, and determined that placing the work in a key Asian market would amplify its value. Ultimately, we placed the work with Phillips Hong Kong, where it sold for $440,000.
Art Market Liaison maximized the value of the client's artwork 44 times above the original estimates, and reduced total seller's fees by 88 percent.