Artwork Selection

SMA considers consignments of secondary market artwork only, meaning we exclusively accept works that have been previously purchased or owned. We do not accept primary market artwork, which refers to pieces acquired directly from the artist or being sold for the first time. While we accept artworks from all periods and in all mediums, our specialty lies in modern, post-war, and contemporary prints and multiples. We generally focus on artists with established auction histories to ensure there is a proven market for their work. The pieces we select for auction are those we believe have the strongest potential for success with our clientele. Please see our previous Catalogs & News for examples of the types of work we showcase best at auction.

Estimates

Once a piece is accepted as a good fit for our clientele, SMA carefully researches the artist’s market and past auction results to provide a suggested low and high estimate for sale. These estimates serve as an informed snapshot of the artwork’s potential value but are not guarantees of the final hammer price. It’s important to understand that works can, and often do, sell above or below these projected ranges depending on demand at the time of auction. Generally, we set the starting price of the lot at half of the low estimate to generate early interest and momentum (for example, if the estimate is $10,000–$15,000, the starting bid will be $5,000).

Guarantees & Reserves

As a consignor, you have the option to set a minimum net guarantee—this is the amount you are assured to receive after all auction fees, provided the lot sells. SMA will guide you with realistic projections to help determine an appropriate and market-informed guarantee. Based on your desired net amount, we will work with you to set suitable auction estimates and reserves. For lower-valued works, typically under $1,500, we may recommend listing the piece as a “No Reserve” lot. This means the artwork can sell at any price, without a minimum guarantee, often increasing the likelihood of a successful sale.

Commission Fees

SMA charges the seller an auction house commission for each lot successfully sold at auction, with no fees incurred if the work does not sell. The commission rate is determined based on the estimates and caliber of the work being offered. We insure, professionally photograph, and catalogue all accepted property free of charge. As the consignor, you are responsible for shipping or delivering the artwork to SMA in Santa Monica, CA, as well as coordinating return shipping if the work remains unsold. Payment for sold lots will be issued within 45 days following the auction.

After-Auction Sale

In some cases, a lot will “Pass” at auction. This happens most likely when the bid price at auction does not meet the buyer’s minimum guarantee. In the case of a lot not selling at auction, you have the option to allow us the attempt to sell your artwork for retail sale during our After-Auction sale that lasts 45 days after the auction.