Modern Contemporary Art Advisory services encompass a range of specialised offerings designed to assist clients in navigating the art market, managing their collections, and making informed decisions about acquiring, selling, and conserving art. Modern Contemporary Art Advisory services combine administrative, logistical, and strategic tasks to ensure that collections are well-documented, properly conserved, and aligned withour collector’s goals.
Modern Contemporary Art Advisory Fees, which focuses on the UK market or similar high-end art markets, the fee structure typically includes several common approaches:
1. Commission-Based Fees
- Acquisition Fees: a commission on the purchase price when assisting clients in acquiring artworks. This is usually around 5-20% of the purchase price. The percentage may vary based on factors like the total cost of the transaction, the complexity of the acquisition process, and the advisor’s involvement.
- For high-value transactions, such as those involving blue-chip artists or top-tier auction houses, the commission might will be 5-10%.
- For emerging artists or more niche acquisitions, where MCA’s xpertise plays a larger role, the commission will be 15-20%.
- Sales Commission: When assisting in the sale of artworks, MCA’s commission is 5-20% based on the final sale price.
2. Hourly Rates or Daily Fees
- MCA charges an hourly or daily rate for time, particularly for specific consultation services that don’t involve buying or selling art.
- Hourly rates typically range from £150 to £500 or more, depending on the type of advice and the level of service.
- Daily rates range from £1,000 to £3,000, for more intensive engagements like leading a client through an art fair, conducting in-depth collection reviews, or coordinating a complex sale or acquisition.
3. Project-Based Fees
- For specific projects such as collection management, inventory organization, or curating exhibitions, MCA offers a flat fee. Thw fee is determined based on the project’s scope, the time required, and any special expertise needed.
- Project fees range from £2,000 to £20,000+, depending on the size and value of the collection, the complexity of the task, and the level of ongoing maintenance required.
4. Retainer Agreements
- Some clients prefer to retain art advisors on an ongoing basis, especially if they frequently buy or sell artworks or need continuous management of their collections.
- Retainer fees can range from £1,500 to £10,000 per month, depending on the range of services included and the extent of the advisory service.
- A retainer agreement would consist of a set number of hours or services each month, e.g. regular market updates, advisory meetings, or coordination with other art professionals (e.g., conservators, insurers).
5. Consultation Fees for Valuation and Appraisal
- Valuation and appraisal services are charged at flat fee per appraisal or a percentage of the appraised value.
- Flat fees for appraisals can range from £500 to £5,000 per piece, depending on the complexity of the appraisal and the value of the artwork.
- Alternatively, a percentage fee 0.5% to 3% of the appraised value, could apply particularly for high-value artworks. where additional expertise and greater depth of research required.
6. Customised Packages for Corporate or Institutional Clients
- For corporate clients or institutions (such as banks, hotels, or cultural organisations), art advisory services can be bundled into tailored packages that cover acquisition, collection management, curatorial services, and more.
- These custom packages are negotiated on a case-by-case basis and can range from £10,000 to £100,000+ annually, depending on the size of the collection, the scope of services, and the frequency of transactions or management tasks.
7. Discounts and Negotiation Considerations
- Discounted rates or negotiated commissions are available for long-term clients or for high-value transactions where the overall commission is substantial.
- Advisory services which factor in the possibility of institutional access (e.g., access to exhibitions, artist studio visits, or exclusive art events) as part of the service, will justify higher fees.
Summary of Fee Ranges for MCA Advisory Services:
- Acquisition/Sales Commissions: 5-20% of the transaction value
- Hourly Rates: £150-£500 per hour
- Daily Rates: £1,000-£3,000 per day
- Project-Based Fees: £2,000-£20,000+
- Retainer Fees: £1,500-£10,000 per month
- Appraisal Fees: £500-£5,000 per piece or 0.5%-3% of the appraised value
- Corporate Packages: £10,000-£100,000+ annually
These rates reflect general industry standards for art advisory services and the specific expertise, reputation, and network that MCA Advisory brings to the table. For those seeking services from Modern Contemporary Art Advisory please contact us to discuss what is included in our fee structures and to discuss any customisation that may better suit our client’s needs.