CAF Inquiries - best way to respond?

[IngelsFan]

Terry I've been on both sides of the equation. I've received offers on art in my galleries and I pretty regularly make offers on art in other collectors' CAF galleries. I usually make the offer upon first contact, rather than just an inquiry. My usual phrasing is along the lines of ". I realize that it is NFS, but I would like to make an offer of $XXX for it. Please keep my contact information in case you ever decide to sell." This leaves it open for a response or a counter offer, but doesn't obligate the gallery owner to send one. When I get one line inquiries of "is this piece available for sale?", sorry, but that doesn't get a respone. To me that might as well be CAF spam.

Just my

[Terry Doyle]

Sometimes I receive enquiries from other collectors wanting to buy art I possess.

 

Although all the art in my CAF is listed as NFS, it doesn't bother me to respond to such requests.

So your art, contrary to your listing, is for sale?

 

Maybe that's part of why it is confusing to respond.

 

I regard responding to all enquiries as a matter of common courtesy.

 

If art's marked NFS I'm not actively looking to sell.

 

Tempting offers can sometimes pry NFS items loose.

 

Is that any better for you?

 

I guess you never saw any of the Godfather movies (i.e. "I made him an offer he couldn't refuse").

[Terry Doyle]

Sometimes I receive enquiries from other collectors wanting to buy art I possess.

 

Although all the art in my CAF is listed as NFS, it doesn't bother me to respond to such requests.

So your art, contrary to your listing, is for sale?

 

Maybe that's part of why it is confusing to respond.

 

How is it for sale? My house isn't for sale, but if someone rang the doorbell and offered me $1MM for it, I'd move out tomorrow.

 

You understand.

[Doc Joe]

I am of the belief that it costs almost nothing in terms of time to respond and it is polite to do so, assuming the initial message was also polite.

 

When I receive those I just say "Thanks so much for your kind words (cause usually they say something nice about the collection as a whole); I love that piece too, its not for sale at the moment but I will keep you in mind if that ever changes down the road."

 

So far I have found that most people on CAF have been very polite and respectful; part of the features of this board and CAF is "meeting" people who have a shared interest.

 

I have pieces that I must say are never for sale; probably not even with super stupid 6 figure offers that they would never get anyway.

 

Terry I think your response is just fine.

[Terry Doyle]

Maybe we should have:

 

Not For Sale

 

and . . .

 

Never For Sale

 

[mister_not_so_nice]

Maybe we should have:

 

Not For Sale

 

and . . .

 

Never For Sale

 

 

I've got a NEVER FOR SALE ,

but if more people used that than I made this meme for nothing

[Terry Doyle]

[Terry Doyle]

[mister_not_so_nice]

 

 

 

[staffman]

I have the same response as you Terry. If the requester is asking me to sell something when I don't have a price on it, then it is on the requester to make an offer. If I'm selling something then I'm putting a price on it. The "make an offer" listings drive me nuts since they are acting like it's an auction. If you want to auction the piece just do it and take the 10% hit and don't try and horde every last dime out of it.

 

I also always respond to any request and if I do truly want to sell it I will reach out to the requester first to see if they are still interested.

 

My favorite interaction was the one collector asking me if I wanted to sell a piece and I actually threw out a # which was just $50 more than I paid for it, and that sent them running to the hills saying that what I was asking was way too expensive. I wonder if they would have said the same reaction to the artist who I bought the piece from.

[Terry Doyle]

I

My favorite interaction was the one collector asking me if I wanted to sell a piece and I actually threw out a # which was just $50 more than I paid for it, and that sent them running to the hills saying that what I was asking was way too expensive. I wonder if they would have said the same reaction to the artist who I bought the piece from.

 

If you're selling something at FMV you also have to consider the fact that it's likely to cost you the same (maybe more) to find a similar replacement.

 

It should be fairly obvious that a "make me a tempting offer" response to such enquiries is likely to involve a mark-up in price over current FMV. Doesn't necessarily have to be an extortionate sum involved, but certainly enough to make the idea of a sale worthwhile (otherwise why bother entering into exploratory discussions?).

[Ironmandrd]

Hey, you never now . . .

 

I have acquired 20+ pieces over the last 5 years that were marked NFS (2 covers like that this year, for example). They almost always required a premium to persuade the owner. In a few cases, I was told "not for sale" then was contacted 6 months or a year or more later saying they might sell or in one case telling me how much they'd sell it for.

 

It's obvious to say of course but being polite and respectful are paramount (whether you are the prospective buyer or the owner). And if you are the buyer and making an offer, please try not to lowball---at least offer what appears to be FMV (even though that will likely rarely ever get you a NFS piece).

 

As to answering unsolicited emails--while I understand it at a level, given that we are part of a OA community, I find it preferable if people answer emails. It doesn't take much to say " sorry, not for sale." Are they concerned that once they send that response, they open up the potential floodgates of a barrage of emails as if from a CAF stalker or a jerk feeling entitled?

[staffman]

Hey, you never now . . .

 

I have acquired 20+ pieces over the last 5 years that were marked NFS (2 covers like that this year, for example). They almost always required a premium to persuade the owner. In a few cases, I was told "not for sale" then was contacted 6 months or a year or more later saying they might sell or in one case telling me how much they'd sell it for.

 

It's obvious to say of course but being polite and respectful are paramount (whether you are the prospective buyer or the owner). And if you are the buyer and making an offer, please try not to lowball---at least offer what appears to be FMV (even though that will likely rarely ever get you a NFS piece).

 

As to answering unsolicited emails--while I understand it at a level, given that we are part of a OA community, I find it preferable if people answer emails. It doesn't take much to say " sorry, not for sale." Are they concerned that once they send that response, they open up the potential floodgates of a barrage of emails as if from a CAF stalker or a jerk feeling entitled?

 

I think from what we've seen on the boards is that some people just don't want to be bothered with selling the pieces they own and that if they have it on the CAF site they may hear a $ amount that they can't refuse and start selling the pieces and then maybe regret sets in. I can kind of understand that logic

 

What about the opposite though. Someone puts up a piece of work and has a price on it, but the price is double or more of what it would get in a true FMV. Do you approach them and say you are interested but is there something they can do on the price? I've seen a few pieces I wouldn't mind grabbing, but I know they didn't pay that much and if they auction it off it will not reach that height (in my opinion and I could be wrong if 2 people go after it, but history has shown that this one artist I'm looking at does not command that kind of price.) It sounds like you are coming off like a though if you try and point it out and argue on the "true" cost of the piece.

 

It's strange - NFS on the piece get most likely a higher amount for it, offer it for sell and you get bargained with....

[thehumantorch]

I think it's only polite to respond to any contact through CAF. A quick 'sorry, not for sale' or 'wasn't planning to sell but will consider a crazy offer...' doesn't take long.

 

I'd imagine some guys are just beating the bushes hoping the owner of the piece will undervalue it or need cash and toss out a cheap price. Some guys may ask about a piece they like without any real idea of the market and choke on the price. And I'm sure some guys truly like a piece and are willing to pay market or more.

[JadeGiant]

I think it's only polite to respond to any contact through CAF. A quick 'sorry, not for sale' or 'wasn't planning to sell but will consider a crazy offer...' doesn't take long.

 

I'd imagine some guys are just beating the bushes hoping the owner of the piece will undervalue it or need cash and toss out a cheap price. Some guys may ask about a piece they like without any real idea of the market and choke on the price. And I'm sure some guys truly like a piece and are willing to pay market or more.

 

While certainly not all cases fall into this category, I am sure that this accounts for a good bit of it. You may even be able to get a sense of this when the inquiry comes in and looks very rushed and/or impersonal.

 

Common courtesy goes a long way. I have contacted many collectors just to compliment their collection with no intent to buy anything and a couple times this has ended up in a sale down the road.

 

I can see where someone may not want to reply to an ill-formed inquiry along the lines of "is this for sale?" but I always feel the need to respond even if I don't feel I will get a reply.

[Mephisto]

I let folks know that nothing is for sale at this time but I'll let them know if I decide to sell at some point. Then I put their e-mail in a folder and if/when I decide to sell I'll send them a link to the auction.

 

Go pound sand!

[mtlevy]

I reply to polite inquiries

 

If the interested party makes a decent cash offer, I record it for when I may be interested in selling

(but understand an offer is not good forever)

 

If I want a piece from someone else and I feel I know the market then I aim to make a cash offer

 

Mark

 

 

[Terry Doyle]

If I want a piece from someone else and I feel I know the market then I aim to make a cash offer

 

Mark

 

 

This pretty much sums it up for me.

 

If I'm offering a piece of art for direct sale, I'll do my own research on FMV as a starting point for pricing.

 

If someone comes along wanting to by art from me that I'm not actively looking to sell, I place the onus on the would-be-buyer to come up with a realistic offer based on his own homework.

 

I don't want to spend time doing the research ahead of an offer that may or may not materialise.

[OldGuy]

I let folks know that nothing is for sale at this time but I'll let them know if I decide to sell at some point. Then I put their e-mail in a folder and if/when I decide to sell I'll send them a link to the auction.

 

Go pound sand!

 

Unless it's you, then I'll sell it for half FMV.

[Bill C]

 

It's obvious to say of course but being polite and respectful are paramount (whether you are the prospective buyer or the owner). And if you are the buyer and making an offer, please try not to lowball---at least offer what appears to be FMV (even though that will likely rarely ever get you a NFS piece).

 

 

Yeah I've had some interesting offers. Have a piece that is NFS (unless of course silly $ is thrown at me). Someone contacted me and wanted it, but was hemming and hawing about throwing out a figure. Eventually he throws out an offer that he says is FMV but in reality is far less. And really, even if it was a FMV offer- why would I let go of a key piece for that $, and to him? Why not throw it up in an auction and give others a shot to bid it up? If you're told something is not for sale and it would take a sizeable offer to release it, wouldn't you assume that $ offer would have to be above FMV?