TweetAs the spring rolls around, and we come creeping out of hibernation, thoughts will inevitably turn to the hot topic captivating many homeowners, is it time to downsize? With a home full of family momentos, grown children’s boxes of who-knows-what, and furniture collected over the decades, downsizing your home and your life can seem an awfully arduous task.
Christie's Images Ltd. 2012 - Steel-Lead Alloy Square, Carl Andre (1969)
Brett Sherlock is the Toronto-based Head of Christie’s Canada who has the glamorous job of assisting clients from Elizabeth Taylor to collectors and downsizers all over the world. As an exclusive affiliate of Christie’s International Real Estate, Chestnut Park is lucky enough to have close access to Brett’s expertise. What he wants you to know first and foremost? That working with “the world’s largest auction house” will not be an intimidating experience.
Christie's Images Ltd. 2012 - Bronze Wine Vessel and Cover, Fangyi Late Shang Dynasty, Anyang (12th - 11th Century BC)
CP: Why should those looking to downsize contact Christie’s?
BS: We get daily calls from people who want to change their lives. They want to scale down, either an art collection or a home full of furniture. They will get in touch with us to advise where the strengths are in the market and what they should consider selling and at what time. Depending on what they want to sell, I will pay them a visit to see if I am able to assist.
CP: What kinds of things are people generally looking to sell when they come to you?
BS: Antique furniture, art, photography, silver, jewelry. There are a lot of people who are aging and their children don’t necessarily want to collect what they collect. Or in some cases, there is one good painting in the family, but three or four children. To make it fair, they will sell the painting and divide the money equally. This also gives one or more of the children an opportunity to purchase the piece outright without the family drama.
Christie's Images Ltd. 2012 - White Breathing, Bruce Nauman (1976)
CP: And why do your clients choose Christie’s as opposed to selling independently, online, etc.?
BS: Our concern for the client is that their expenses are kept as low as possible. If something is not a high enough value, and it will not be profitable for them, we won’t send it to one of our international houses, we will refer it to a local auction house instead. Depending on the piece, we are also offering an international audience. If you have a piece of antique English china, we know to put that item up in London, for example.
CP: Do you need an Elizabeth Taylor-sized collection to work with Christie’s?
BS: Certainly not. It is common for people to be intimidated by large auction houses like Christie’s, but we do not have a minimum dollar amount or item amount that we work within. We are approchable, we stand behind what we sell, and surprisingly our average lot value is between $6,000 and $10,000. A percentage of each sale goes to Christie’s, and we work on a sliding scale; the more valuable the item, the less commission is taken off the sale price.
Christie's Images Ltd. 2012 - Happiness through Chan Practice: Portrait of Wang Shizhen, Yu Zhiding (1647-1716)
CP: So where would a potential client begin?
BS: Once I get some images, there is no charge to have me come and check out a collection in person – sometimes I will do a walk through and we will find a huge surprise, something that a client had no idea the value of. That is one reason to get in touch with Christie’s; if you have an inkling that you may have something of value, send us pictures and we’ll let you know if it’s worth investigating.
CP: What’s the biggest misconception about Christie’s or auction houses in general?
BS: I think most people do not consider an auction house a very approchable place, but we see that stereotype breaking down more and more. It has become quite fashionable to be visible at auctions, and in the sale rooms. We just had the Elizabeth Taylor auction in NYC and people were definitely out to see and be seen. I think people are also realizing that the difference between retail and auctions is an education; there is a story behind every piece, and there is something to be learned through every sale. I am excited when I see young couples out at sales who are there to train their eye and get to know the history of an era or the quality of our pieces – it’s like a museum that’s changing its exhibit on a daily basis.
The Christie’s website is also so informative; you can watch auctions taking place worldwide in real time – you can be a part of it from anywhere!
Christie’s Fine Art Auction House
Chestnut Park Real Estate Ltd., Brokerage
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