Trusts, Estates & Inheritances.
Maximizing the return while easing the burden.
When a collector passes, often they leave a vast array of artwork and design collected over a lifetime. This material can cover multiple sales categories from the varied landscapes in art. It is difficult to know where one should start, how to value and sell these items, and dealing with constraints of timing and logistics. Family members may not even live near where these assets are.
La Finca’s guidance eases the burden on the family, providing all the necessary expertise for the decision-makers to move forward with confidence and without costing them time, energy and unnecessary costs. La Finca’s insider expertise, and ability to outline a concise selling strategy, makes a significant difference in the proceeds for our clients.
Key success stories:
High value decision-making
Sale category: Contemporary Art / Prints & Multiples
Sale type: Private Sale
Client: Chicago, Family Estate
This full set of Andy Warhol “Marilyn” (1967) works was purchased many years ago by a Chicago family. When the family matriarch passed it was one of the most significant assets in the estate with a value (and sale price) exceeding $3,000,000. While a fully numbered set of these is rare, other sets to exist and come to market. As such, bringing it for sale with the right pricing (in a private sale) was key—simultaneously offering it at a level that is aspirational but also “on market”.
Andy Warhol (1928-1987)
Marilyn Monroe
(Feldman & Schellman II.22-31), 1967
The complete set of ten screenprints in colors on wove paper
36 x 36 in. each (91.4 x 91.4 cm each
© The Andy Warhol Foundation for the Visual Arts, Inc. / Artists Rights Society (ARS), New York
Emphasizing strengths to produce results
Sale category: Contemporary Art
Sale type: Auction
Client: Mondavi, Napa Family Estate
This beautiful example of a late, Wayne Thiebaud checks many of the boxes of exactly what you want in a work from the artist. At the time it was offered it there was a large gap between early works from the 60s and a painting like this from the 1990s, even though the subject matter in this case was nearly identical to many of the tropes Thiebaud worked with decades earlier—food as a proxy for nostalgic American culture. Strategically, the focus was to emphasize the strengths and rarity of this picture—the late owner’s friendship and correspondence with the artist, the rarity and desirability of the subject matter (ie. the small number of cake paintings is existence), the fame of the family that owned it, and giving it aggressive pricing so it would not undersell.
Wayne Thiebaud (1920-2021)
Camellia Cake, 1995
Oil on panel
11 x 14 in. (27.9 x 35.6 cm.)
© 2024 Wayne Thiebaud/Licensed by VAGA, New York, NY
The payoffs of calculated risk
Sale category: Old Master Paintings
Sale type: Auction
Client: San Francisco, Family Estate
This large, and best of example is one of only four paintings from this trip to India by Thomas Daniel well outperformed expectations, selling for over $1,000,000. Private sale options indicated we would see offers in the $300,000 to $400,000 range which would have been a strong result. But the client, on the recommendation of Dane Jensen’s research, decided to go with a riskier option and the results speak for themselves. It was a very calculated risk, however, based on the strength and rarity of the painting which paid off in a big way for one very happy client.
Estimate: USD 120,000 – USD 180,000
Price realized: USD 1,071,000
Thomas Daniel, R.A.
(Kingston-Upon-Thames 1749-1840 Kensinton)
The entrance of an excavated Hindu cave temple at Mahabalipuram on the Coromandel Coast
Oil on canvas
48 x 71 5/8 in. (122 x 179.5 cm)
Getting the most for the most value
Sale category: Decorative Arts / 19th Century Sculpture
Sale type: Auction
Client: Chicago, Family Estate
When one is selling an estate, there are always many more works on the lower value spectrum. This estate, a Decorative Arts collection in Chicago, was taken on almost entirely by Christies across a number of different auctions. This was an exceptional work by one of the great French sculptures of the 19th Century and it proved to be in high demand with a fantastic result in a New York auction that only featured very fine works, giving it the chance to achieve its highest result possible—the third highest price ever for a Cordier at auction.
Price realized: USD 350,000
Estimate: USD 100,000 – USD 200,000
Charles-Henri-Joseph Cordier (1827-1905)
Poésie (Poetry) or Jeune femme Pariote (Young woman of Paros)
Exceptional Decorative Arts Sale,
Christie’s New York
Data-driven strategy
Sale category: Contemporary Art
Sale type: Auction
Client: Los Angeles, Family Estate
This Tom Wesselmann “steel drawing” coming from a Los Angeles, CA estate, was a bit of a rarity. While its subject and size were well-documented they typically were painted by Wesselmann in color. As such, it was a bit of an unknown as to what level it would sell at given the lack of comparables in black. It was important to look very rigorously at the data to understand if it should be sold at auction or in a private sale and what a likely outcome given its lack of color would be. It was determined that the existing data did lean toward a good result at auction. It sold very well in a New York auction, producing great results for a California family, selling for $277,000 with premium.
Tom Wesselman (1931-2004)
Steel Drawing / Bedroom Brunette with Irises (Black Variation #1), 1987-88
Enamel on laser cut steel
51 x 79 in.
@ Tom Wesselmann
Selling strong in a down market
Sale category: Contemporary Art
Sale type: Auction
Client: Los Angeles, Family Estate
While this is an exceptional, large well-painted work from Karel Appel, the artist’s late work has seen mixed results as of late. As such, to get the most out of this work, one had to have the right strategy with limited options. The Appel market is mostly in the US and Europe and this piece with its heavy impasto paint layer showed very well in person so getting it into a larger New York sale was key. The new galleries at Phillips auctioneers on Park Avenue in New York in the premier November auctions (when many collectors and dealers come from Europe) was the best option both to control the costs of shipping a large work to Europe and getting great buyers in front of it. The strategy worked very well and it well out-performed expectations.
Estimate: $80,000 - 120,000
Sold for: $277,200
Karel Appel (1921-2006)
The Entry, 1985
Oil on canvas
96 x 72 in. (243.8 x 182.9 cm)
© 2024 Artists Rights Society (ARS), New York / Van Lennep Producties, Amsterdam
Finding the market
Sale category: Decorative Art / Silver
Sale type: Auction
Client: Northern California, Family Estate
These great, museum-quality, silver wine coolers, came from an estate which was almost entirely sold on California. However, because of the fine quality of these and where objects like this are sold, you want to sell them where the best collectors in this sale category can see them. So, it made sense to break them off from the larger collection and sell them in a premier auction outside of the rest of the consignment. This type of strategy is only achieved through right guidance and expertise.
Price realized: USD 106,250
Estimate: USD 70,000 – USD 100,000
Mark of Paul Storr (1828-1837)
The Triumph of Bacchus: A pair of George IV Wine Coolers
English & European Silver & Works of art sale, Christie’s London
Playing offense and defense at the same time
Sale category: Contemporary Art / British & Modern Art
Sale type: Auction
Client: Texas, Family Estate
Costs can add up and eat away at returns even for a work like this which sold for 200,000 GBP (with premium) or about $260,000 in USD. Bringing this work to market involved making key decisions with the heirs to ensure the costs were controlled while the work was positioned to achieve its highest possible return for this Texas family. It opened up a set of important questions. Where should this Barbara Hepworth, an English artist, be sold? In the US or in London? Does one know that you are getting the right advice when dealing directly with an auction house or dealer? Is this advice best for you or does it primarily serve the auction house, dealer, or gallery? Objective, honest advice with a trusted advisor is priceless in these situations.
In this case, the best course of action was to send this piece to London to “British Modern” sale to get it in front of its main core of collectors—a place where date showed it was getting this best results. There it received better marketing package and focus from the auction house than it would have gotten in a US sale. The client received the benefit of advice on venue but was also, through negotiation, have their work preview in New York during the premier auctions there were also a boost for the work. This was all done withy no extra costs for the client. An aggressive offense with a rigorous defense from an insider’s perspective produces better results.
Dame Barbara Hepworth (1903-1975)
Maquette for Monolith, conceived in 1963-64, and cast in 1964
Bronze with a green and brown patina
13 in. (33 cm) high
© Barbara Hepworth
Smart Money
Sale category: Contemporary Art
Sale type: Auction
Client: Bel Air, Family Estate
This 1970s Larry Poons, in a spectacular colorway and a rich surface posted a huge number for a work of this type—one of the highest ever at $200,000. The work which sold at Phillips New York came from an estate in Bel Air in Los Angeles and was sold to benefit several universities.
Larry Poons (B. 1937)
Untitled, 1973-74
Acrylic on canvas
78 x 27.5 in. (198.1 x 69.9 cm.)
© Larry Poons
A bespoke strategy
Sale category: Impressionist Art
Sale type: Auction
Client: Northern California, Family Estate
This Henri Martin painting, along with a Francis Picabia landscape, came from a large Atherton, California estate and which was successfully sold using multiple auction houses including Christies that handled the two Impressionist works in the collection.
Henri Martin (1860-1943)
L’eglise Saint-Cirq Lapopie percheé sur la falaise de la boucle de Lot, ciel bleu.
Signed Henri Martin (lower left)
Oil on canvas
39.5 x 32 in. (100.4 x 81.3 cm)
The nexus of blue-chip and legacy
Sale category: Contemporary Art
Sale type: Auction
Client: Mondavi, Napa Family Estate
This Helen Frankenthaler painting, Summer Angel, is a beautiful and large-scale example of her work. The piece was sold at for just above $900,000 which was a very strong number at the time. The selling strategy capitalized on the reknown of the late owners, winemakers Robert and Margrit Mondavi, their personal friendship with the artist and, of course, the strength of the picture itself when the market for Frankenthaler was expanding from a US market to a global one.
Helen Frankenthaler (1928-2011)
Summer Angel, 1984
Acrylic on canvas
91 1/8 x 114 1/2 in. (231.5 x 290.8 cm)
© 2024 Helen Frankenthaler / Artists Rights Society (ARS), New York
A family investment made good
Sale category: Contemporary Art
Sale type: Auction
Client: Fort Worth, Family Estate
Sometimes estates really have one artwork of significant value…so you better make it count. That was the case with this 1980s Andy Warhol “Soup Box” painting from a Fort Worth, Texas collection. The work sold for just over $200,000 which was an excellent return on investment for the family of the late owner.
Andy Warhol (1928-1987)
Campbell’s Soup Box (Noodle Soup), 1986
Acrylic and silkscreen ink on canvas
14 x 14 in. (35.6 x 35.6 cm)
© The Andy Warhol Foundation for the Visual Arts, Inc. / Artists Rights Society (ARS), New York
Maximizing minimalism
Sale category: Contemporary Art
Sale type: Private Sale
Client: Chicago, Family Estate
When two California collectors moved east to Chicago they brought their Minimalist collection with them including this fantastic John McLaughlin painting from 1961. It was sold quietly and privately align with other key works on behalf of the heirs and realized over $250,000.
John McLaughlin (1898-1976)
#23, 1961
Oil on canvas
60 x 42 in.
© 2024 John McLaughlin
No stone left unturned
Sale category: Contemporary Art
Sale type: Auction
Client: David & Gloria Wolper, Los Angeles Family Estate
Residing on the wall of the elevator in the collector’s home, this rare Jasper Johns bronze flag, an iteration of one of John’s most famous series of works, was sold for the family of mega-collectors and Gloria and David Wolper of Los Angeles. The Wolper’s collected incredible examples of works by Pablo Picasso and Joan Miro and others with many works being given to LACMA. Their collection still stands as one of the most spectacular and important assembly of artworks ever in LA.
Jasper Johns (B. 1930)
Medal of Liberty
Incised with the artist’s signature, date and foundry mark ‘J. Johns 1960-86 ©’ (right side edge); incised with the number ‘A.P.' (on the reverse)
Bronze
4 1/2 x 6 5/8 in. (11.4 x 16.7 cm.)
© Jasper Johns
Placement and optics
Sale category: Contemporary Art
Sale type: Auction
Client: Beverly Hills, Family Estate
This Yaacov Agam from the 1960’s was strategically included in a special curated capsule sale in a New York auction. The auction succeeded in bringing out many of the most significant collectors of Geometric Abstraction. The strategic placement helped is soar to $187,000 against a $30,000-$50,000 estimate, still a top ten result of the artist at auction.
SOLD ON BEHALF OF A BEVERY HILLS ESTATE.
Yaacov Agam (B. 1928)
New Year, 1967-68
Oil on wood relief
Signed in English and Hebrew, titled, inscribed and dated 'YAACOV AGAM "NEW YEAR" PARIS 1967-8 AGAM' (on the reverse)
29 1/2 x 39 5/8 x 2 3/4 in. (74.9 x 100.6 x 7 cm)
© Yaacov Agam
Tastemaking
Sale category: Contemporary Art / Design
Sale type: Auction
Client: James Galanos, Beverly Hills Family Estate
This Peter Volkous ceramic came from the estate of fashion designer James Galanos of Beverly Hills, Galanos was one of the most famous American designers of his day and created dresses for Marilyn Monroe, Grace Kelly, Elizabeth Taylor, Jackie Kennedy and Nancy Reagan among many others. He had a style-driven and eclectic assembly of artworks and design from a myriad of periods which were specifically chosen for his architectural Beverly Hills home. This rare and spectacular example by Volkous, one of Los Angeles’s most innovative artists, was befittingly offered and successfully sold in a curated sale in Los Angeles of just works from California’s most important artists.
Peter Voulkos (1924-2002)
Vase, 1958
Stoneware with slips and glaze
Signed and dated 'VOULKOS / 58' (near the base)
26 x 12 x 11 in. (66 x 30.5 x 27.9 cm)
©Peter Voulkos
Image, quality and results
Sale category: Contemporary Art
Sale type: Auction
Client: Santa Barbara, Family Estate
This Deborah Butterfield trompe l’oeil bronze was sold on behalf of a Santa Barbara, California family. They kept the work for many years after the matriarch of the family passed as it was immensely important to her during his lifetime. The work sold exceptionally well, achieving $245,000, which is still a top ten price at auction for the artist and is an astounding price for a work of this size. Special attention was given in the photography of the work which emphasizes its texture and form which increased its overall appeal.