[avec art]

how much did TW take in fees?

[rockbeer]

Oct 15, 2020 12:18:54 GMT 1 avec art said:

how much did TW take in fees?

Ah, sorry, I can't answer that – I didn't actually sell my items in the auction. I just happen to own four of the items that were available, if that makes sense. Stunned by the insanity of what people might apparently be willing to pay for my cheap tat.

[duffer31]

Oct 15, 2020 12:28:32 GMT 1 rockbeer said:

Oct 15, 2020 12:18:54 GMT 1 avec art said:

how much did TW take in fees?

Ah, sorry, I can't answer that – I didn't actually sell my items in the auction. I just happen to own four of the items that were available, if that makes sense. Stunned by the insanity of what people might apparently be willing to pay for my cheap tat.

They could be worthless next week.

[rockbeer]

Oct 15, 2020 12:29:47 GMT 1 duffer31 said:

Oct 15, 2020 12:28:32 GMT 1 rockbeer said:

Ah, sorry, I can't answer that – I didn't actually sell my items in the auction. I just happen to own four of the items that were available, if that makes sense. Stunned by the insanity of what people might apparently be willing to pay for my cheap tat.

They could be worthless next week.

Indeed – they started out worthless, and no doubt that's the way they'll end up.

[Nuno]

Oct 15, 2020 12:13:26 GMT 1 rockbeer said:

I own four items that were sold in the auction.

Combined price I paid for the four: £73.57
Total combined hammer price for the four: £4,450.00
Profit margin: 98.35%

It's all completely bonkers.

Not sure your margin is correct but your point still stands.

[rockbeer]

Oct 15, 2020 12:36:19 GMT 1 Nuno said:

Oct 15, 2020 12:13:26 GMT 1 rockbeer said:

I own four items that were sold in the auction.

Combined price I paid for the four: £73.57
Total combined hammer price for the four: £4,450.00
Profit margin: 98.35%

It's all completely bonkers.

Not sure your margin is correct but your point still stands.

Hmmm, I'm no mathematician or accountant, but I double-checked it. What do you think it should be?

[hazydavy]

Oct 15, 2020 12:41:53 GMT 1 rockbeer said:

Oct 15, 2020 12:36:19 GMT 1 Nuno said:

Not sure your margin is correct but your point still stands.

Hmmm, I'm no mathematician or accountant, but I double-checked it. What do you think it should be?

5,949%, say 6,000%.

[Spenie]

If it was 98.35% profit that means you would make £72.35 on the purchase price, 100% profit would be £73.57.

[rockbeer]

Oct 15, 2020 12:49:47 GMT 1 hazydavy said:

Oct 15, 2020 12:41:53 GMT 1 rockbeer said:

Hmmm, I'm no mathematician or accountant, but I double-checked it. What do you think it should be?

5,949%, say 6,000%.

The way I understand it, a profit margin is calculated as (Net Income / Revenue) * 100

In other words, (((sale price - cost of sales) / sale price) * 100)

On that basis I don't see how it can ever exceed 100%

If Net Income and Revenue were equal (i.e. NI / R = 1 ) then the margin would be the highest possible 100%. In other words, the margin is 100% when costs of sale = 0, and every penny of revenue is therefore pure profit.

I think. I stand to be corrected / educated!

[Pipes]

Oct 15, 2020 13:01:49 GMT 1 rockbeer said:

Oct 15, 2020 12:49:47 GMT 1 hazydavy said:

5,949%, say 6,000%.

The way I understand it, a profit margin is calculated as (Net Income / Revenue) * 100

In other words, (((sale price - cost of sales) / sale price) * 100)

On that basis I don't see how it can ever exceed 100%

If Net Income and Revenue were equal (i.e. NI / R = 1 ) then the margin would be the highest possible 100%. In other words, the margin is 100% when costs of sale = 0, and every penny of revenue is therefore pure profit.

I think. I stand to be corrected / educated!

you are both correct.

The margin is 98% but the % increase is 5,949%

[Blakeies]

Thank you for this. I read that and it didn’t seem correct. But I was far too lazy to work out the maths 🤣

[Pipes]

Oct 15, 2020 13:01:13 GMT 1 Spenie said:

If it was 98.35% profit that means you would make £72.35 on the purchase price, 100% profit would be £73.57.

100% profit (margin) is £4,450.00 as that’s what he sold it for. That would be if he got them for free. It’s 100% profit.

It’s 98% because he paid £73.57.

[therivler1]

Oct 15, 2020 8:33:19 GMT 1 shaunyboy said:

A good result on the IFTL signed.

A £10k increase on the Forum auction result a month ago.

It was in terrible condition also:

Lot 225. Banksy (British 1974-), ‘I Fought The Law', 2004



‘Vertical waving to the sheet, this is most prominent to the lower half

Discoloration to the lower edge of the sheet as a result of moisture, this raises approximately 15mm upwards at the highest point and does not run into the main border/image

A small area of edgewear to the lower right-hand corner

Part of the blind stamp is missing, the sheet has been measured with full margins, the 'cut off' blind stamp is from the time of production opposed to the sheet being trimmed

Two abrasions to the right-hand black border, close to the standing figure's shoulder

The signature and numbering are all clean and crisp

Some other small markings to the sheet, most notable to the black background above the 'G'

No markings/adhesives present to the reverse of the sheet from the previous framing

This work could be greatly improved by a qualified paper restorer

Tate Ward would be happy to assist with the restoration of this work at the Buyers Request

[irl1]

Oct 15, 2020 10:25:22 GMT 1 Dahmer said:

I have one of the GDP rats from the final evening, if anyone wants to pay me £5k I think I would accept haha, - honestly what the fuck has happened with those prices recently?

lv and artdelight got married 

[urbanwear]

Pdf, with pics and Banksy results of the Tate Ward Auction.


Pdf Auction Results

[aki]

Oct 15, 2020 11:43:47 GMT 1 dirtypete said:

If anyone is looking for a Vandalism as Modern Art poster there’s one on the bay at the moment.

www.ebay.co.uk/itm/233554166802

It’s at a bargain price compared to the latest result!

I’ve got one for £600 posted in uk, if anyone wants one?

[quinn]

How long till someone offers up 70 Peckham rocks in exchange for a unsigned banksy
....bet irl1 is thinking about it😁

[irl1]

Oct 15, 2020 21:22:32 GMT 1 quinn said:

How long till someone offers up 70 Peckham rocks in exchange for a unsigned banksy
....bet irl1 is thinking about it😁

Not a chance, the Rocks are shooting up quicker then a volcano 

[daniel3886]

I’d like to thank everyone who’s commented on this thread good bad or indifferent. We are committed to growing and improving at every opportunity and any criticism is an opportunity for myself and the team to improve the service we offer buyers and sellers.

A few facts that hopefully shed some light on the actual realities of this sale:

Total Hammer £1.2m (A record for us and brings the Q3 total to over £2m)
Sell through rate 83% highest figure for any of our sales
Our first sale Apr19 had 521 lots and hammered 750k
This one had 223 and hammered £1.2m so a significant improvement in the average lot value.

I’d welcome any mails wanting to discuss refinements to the service and thoughts for the future [e-mail]

A note on our auctioneer Hugh Edmeades, he consults to all the major houses and trains most of their auctioneers. He also trained Oliver Barker at Sotheby’s and Jussi Pylkkänen at Christie’s. We’re hugely proud to have him as part of our team and I can speak personally to his professionalism and ability to get the best prices for works he’s tasked with selling. In a 35-year career as a Christie’s auctioneer, he conducted more than 2,500 auctions, selling over 310,000 lots for a sum in excess of £2.7 billion.

[Deleted]

Oct 15, 2020 22:49:21 GMT 1 daniel3886 said:

I’d like to thank everyone who’s commented on this thread good bad or indifferent. We are committed to growing and improving at every opportunity and any criticism is an opportunity for myself and the team to improve the service we offer buyers and sellers.

A few facts that hopefully shed some light on the actual realities of this sale:

Total Hammer £1.2m (A record for us and brings the Q3 total to over £2m)
Sell through rate 83% highest figure for any of our sales
Our first sale Apr19 had 521 lots and hammered 750k
This one had 223 and hammered £1.2m so a significant improvement in the average lot value.

I’d welcome any mails wanting to discuss refinements to the service and thoughts for the future [e-mail]

A note on our auctioneer Hugh Edmeades, he consults to all the major houses and trains most of their auctioneers. He also trained Oliver Barker at Sotheby’s and Jussi Pylkkänen at Christie’s. We’re hugely proud to have him as part of our team and I can speak personally to his professionalism and ability to get the best prices for works he’s tasked with selling. In a 35-year career as a Christie’s auctioneer, he conducted more than 2,500 auctions, selling over 310,000 lots for a sum in excess of £2.7 billion.

I think You guys are great. Keep doing what you do

[daniel3886]

For any aftersales on unsold lots and duplicate lots if people wish to sell to an underbidder Please mail [e-mail]

Consignments are open for our next online sale with artsy in November
We are already inundated with ephemera sellers so please be looking to consign other larger value works as part of the consignment.

Insurance valuations are available free of charge including updates As needed to existing clients.

[Deleted]

Oct 15, 2020 22:49:21 GMT 1 daniel3886 said:

I’d like to thank everyone who’s commented on this thread good bad or indifferent. We are committed to growing and improving at every opportunity and any criticism is an opportunity for myself and the team to improve the service we offer buyers and sellers.

A few facts that hopefully shed some light on the actual realities of this sale:

Total Hammer £1.2m (A record for us and brings the Q3 total to over £2m)
Sell through rate 83% highest figure for any of our sales
Our first sale Apr19 had 521 lots and hammered 750k
This one had 223 and hammered £1.2m so a significant improvement in the average lot value.

I’d welcome any mails wanting to discuss refinements to the service and thoughts for the future [e-mail]

A note on our auctioneer Hugh Edmeades, he consults to all the major houses and trains most of their auctioneers. He also trained Oliver Barker at Sotheby’s and Jussi Pylkkänen at Christie’s. We’re hugely proud to have him as part of our team and I can speak personally to his professionalism and ability to get the best prices for works he’s tasked with selling. In a 35-year career as a Christie’s auctioneer, he conducted more than 2,500 auctions, selling over 310,000 lots for a sum in excess of £2.7 billion.

Great effort, well done 

[theclash]

Oct 15, 2020 22:49:21 GMT 1 daniel3886 said:

I’d like to thank everyone who’s commented on this thread good bad or indifferent. We are committed to growing and improving at every opportunity and any criticism is an opportunity for myself and the team to improve the service we offer buyers and sellers.

A few facts that hopefully shed some light on the actual realities of this sale:

Total Hammer £1.2m (A record for us and brings the Q3 total to over £2m)
Sell through rate 83% highest figure for any of our sales
Our first sale Apr19 had 521 lots and hammered 750k
This one had 223 and hammered £1.2m so a significant improvement in the average lot value.

I’d welcome any mails wanting to discuss refinements to the service and thoughts for the future [e-mail]

A note on our auctioneer Hugh Edmeades, he consults to all the major houses and trains most of their auctioneers. He also trained Oliver Barker at Sotheby’s and Jussi Pylkkänen at Christie’s. We’re hugely proud to have him as part of our team and I can speak personally to his professionalism and ability to get the best prices for works he’s tasked with selling. In a 35-year career as a Christie’s auctioneer, he conducted more than 2,500 auctions, selling over 310,000 lots for a sum in excess of £2.7 billion.

I think auction was great and I managed to get a great piece been after for years. People are moaning as want every sale to be higher so they can revalue their Banksy’s higher every day.

[esfer]

Oct 14, 2020 18:09:56 GMT 1 Lazarus II said:

Oct 14, 2020 17:59:14 GMT 1 mj said:

I cant believe I used my postcards as a Happy Birthday's cards to family😳😱

i think quite a few of us did similar. I gave one away to a forum member who was looking for one at start of lockdown. Kinda backfired though as he put it up for sale with a heap of other stuff a wee while later, that’ll learn me....🙈

Damn that IS crappy.

[atomone]

I feel your pain. Done a favour this week and got someone a really good deal on a piece of art that they were looking for only to see that they sold it on eBay for £325 more the very next day after receiving it...you know who you are...not gonna name and shame but a lesson learnt...

[esfer]

Oct 14, 2020 17:12:58 GMT 1 trowel said:

The posters I kind of understand the appeal, given they can be displayed as a Banksy... but imagine going to someone's house and them proudly showing you their "Banksy" which turns out to be a £650 postcard... 😬

Omg. You made me laugh out loud!

I can just imagine the large ornate golden framing and red velvet backing... Haha!

[tab1]

Oct 19, 2020 0:50:23 GMT 1 esfer said:

Oct 14, 2020 17:12:58 GMT 1 trowel said:

The posters I kind of understand the appeal, given they can be displayed as a Banksy... but imagine going to someone's house and them proudly showing you their "Banksy" which turns out to be a £650 postcard... 😬

Omg. You made me laugh out loud!

I can just imagine the large ornate golden framing and red velvet backing... Haha!

Non art lovers will ponder the same thought when they see an £500 ornate framed door mat framed on the wall

[robo]

Congrats on the sale and great job Tate Ward!

[bob60]

Oct 19, 2020 5:04:20 GMT 1 tab1 said:

Oct 19, 2020 0:50:23 GMT 1 esfer said:

Omg. You made me laugh out loud!

I can just imagine the large ornate golden framing and red velvet backing... Haha!

Non art lovers will ponder the same thought when they see an £500 ornate framed door mat framed on the wall

This is the funniest thing I've read for ages, and true of course...

[tab1]

Oct 19, 2020 17:30:38 GMT 1 bob60 said:

Oct 19, 2020 5:04:20 GMT 1 tab1 said:

Non art lovers will ponder the same thought when they see an £500 ornate framed door mat framed on the wall

This is the funniest thing I've read for ages, and true of course...

Just think if you were lucky You could have your framed mat with your framed gdp brick and framed banksy clown skateboards up on the wall together with some photo picture framed stickers around the living room , with framed tshirts and records lining the stairs ,that would really throw your guests 👀🤯
At least framers are not struggling for work in this pandemic