Why Due Diligence Before Buying Art?
Valuations lodged over this period will take a little longer to complete, but will be completed and returned after their break.
So you are looking to purchase an artwork, but it is perhaps outside of your comfort zone? Or you have not bought art before at all?
Before you commit is exactly the time when you need the opinion of an independent art market specialist in order to get a clear idea of the true value of your intended purchase.
In these instances, professional independent due diligence will provide you with the information and all aspects that you should consider before committing a significant sum of money.
You will be fully informed, have the knowledge to avoid costly mistakes and potentially major buyer's remorse.
Your due diligence report will cover all the important factors when considering an art purchase:
- The artist
- The artist's standing in the primary and secondary market
- Market demand for the artist
- Style, period, medium and size of the artwork
- Condition of the artwork
- Condition of the frame
- Provenance (history of ownership) and exhibition history
- Historical significance
- Statistical analysis of the relevant market data on the artist's work
- Other factors that may be relevant
Once you provide the required information on your potential purchase, your due diligence will be prepared within a few days by our art specialists who have a combined 40 years' experience in the Australian and international art market. They are art valuers and consultants operating as independent advisors for private clients, companies and public institutions.
Due diligence is available for Australian and international artists and covers proposed purchases at auction as well as through commercial galleries, from a private seller or even the artist themselves.
You can order your due diligence report to be delivered as a written report or in a personal consultation in a Zoom meeting or phone call, whichever method suits your requirements best.
By requesting a pre-purchase due diligence report from our professional valuers prior to your potentially expensive purchase, you will be confident of the artwork, and also that it represents good value.