Authentication and valuation
Our specialists authenticate and value works using physical examination, market knowledge and auction databases, so the estimate is accurate and its basis can be explained.
Expertise
Art valuation and expertise in Luxembourg
LLB Auction’s expertise covers contemporary art, prints and editions, photography, and design and collectible objects. To value a work, our specialists examine the object, its condition, its signature or edition, its provenance and its documents, then compare it with recent auction results for the artist and the medium. The result is an estimate range, for example 3,000 to 5,000 EUR, and a recommended reserve. Valuations are free and carry no obligation to sell.
Curated selection
How LLB Auction examines a work
Every work that enters an LLB Auction sale is examined and valued by the house’s art market specialists before it is catalogued. The examination starts with the object: medium, dimensions, signature, date, edition number where there is one, and physical condition. It continues with the paperwork: invoices, certificates, gallery labels, exhibition and publication history, and the chain of ownership.
The specialist then places the work in its market. Recent auction results for the same artist, medium and period are compared with the work in hand, adjusted for size, date, subject and condition, and the comparison produces an estimate range and a recommended reserve. LLB Auction publishes its own results lot by lot, so the comparables it uses can be checked by anyone. A work that cannot be authenticated or whose provenance cannot be established is not offered. The comparables are on the results pages, lot by lot, and on each artist record.
Market analysis
A comparison with recent results for the artist and the medium, so sellers price competitively and buyers bid with a clear view of what similar works have made.
Condition reports
A written account of the work’s physical state with high resolution photographs, available to every bidder before the sale so nothing is left to be discovered afterwards.
Provenance research
The ownership history of the work is traced through invoices, labels, exhibitions and earlier sales. Documented provenance supports authenticity and is recorded in the catalogue entry.
By medium
What is examined, medium by medium
| Medium | Examined on the object | Documents requested | Compared against |
|---|---|---|---|
| Paintings | Support, medium, signature and date, surface condition, restoration, frame. | Invoice or certificate, gallery label, exhibition and publication history. | Results for the artist by period, format and subject. |
| Prints and editions | Technique, edition number and size, signature, publisher or printer, paper, margins, fading. | Certificate, catalogue raisonné reference, invoice. | Results for the same edition and comparable editions by the artist. |
| Photography | Process, print date versus negative date, edition, signature or stamp, mounting, condition. | Artist or estate stamp, certificate, gallery invoice. | Results for the same image and print type. |
| Sculpture and objects | Material, foundry or maker’s marks, edition, patina, structural condition, base. | Foundry certificate, invoice, exhibition history. | Results for the same model or edition. |
| Design and collectibles | Designer and manufacturer marks, materials, production period, originality of parts, wear. | Invoice, manufacturer documentation, literature reference. | Results for the same model, period and manufacturer. |
What to send for a valuation, and what happens after it, is set out in the guide to selling at LLB Auction and in selling and consigning at auction.
Estimate, reserve, hammer
Three prices and who sets them
| Price | Set by | When | Visible to |
|---|---|---|---|
| Estimate | The specialist, from comparable results. | Before the catalogue is published. | Everyone, printed with the lot. |
| Reserve | The seller and the house together, at or below the low estimate. | In the consignment contract. | Confidential. |
| Hammer price | The bidders. | At the close of the timed sale. | Everyone, published in the results. |
| Buyer’s premium | The house, as a percentage of the hammer price. | In the conditions of each sale. | Everyone, stated per sale. |
The relation between the three prices is explained in estimates and value. Bidders can read the guide to buying at LLB Auction.
The vocabulary
Terms used in a valuation
- Estimate
- The price range the specialist expects a lot to reach at auction, written as a low and a high figure, for example 3,000 to 5,000 EUR. It is drawn from comparable results and printed in the catalogue.
- Reserve
- The confidential minimum hammer price the seller agrees with the house. If bidding does not reach the reserve, the lot is unsold and returns to the seller. The reserve never exceeds the low estimate.
- Hammer price
- The winning bid at the close of the sale, before the buyer’s premium and VAT. It is the figure published in the results and the one a future valuation compares against.
- Buyer’s premium
- A percentage the buyer pays on top of the hammer price, stated in the conditions of each sale. It is charged to the buyer, so it does not reduce the seller’s proceeds.
- Provenance
- The documented ownership history of a work: who owned it, when, and through which sales, galleries or exhibitions. Clear provenance supports authenticity and is recorded in the catalogue entry.
- Condition report
- The specialist’s written account of a work’s physical state, with photographs, covering wear, restoration, damage and framing. It is available to bidders before the sale so they bid informed.
Areas of expertise
What LLB Auction values
LLB Auction values and sells contemporary art, paintings and works on paper, sculpture, prints and editions, photography, and design and collectible objects. Its specialists work from the house at 29 rue du Fort Elisabeth in Luxembourg and reply to valuation requests by email. The record of what the house has sold is on the results pages.
- Sales held
- 9
- Lots offered
- 672
- Lots sold
- 440
- Total hammer
- €2,328,299
- Sold above high estimate
- 26%
- Highest lot
- €120,000
Computed from the lot records of every completed LLB Auction sale. Hammer prices exclude the buyer’s premium and VAT. The figures are published lot by lot on the results pages.
Questions
Valuation at LLB Auction, answered
How much does a valuation at LLB Auction cost?
Nothing. Valuations at LLB Auction are free and carry no obligation to sell. Send photographs and details of the work through the valuation form or to info@llb-auction.com and a specialist replies by email.
What do I need to send for a valuation?
Clear photographs of the front, the back, the signature and any labels, plus the artist or title, medium, dimensions, edition number if there is one, condition, and how and when you acquired the work.
How does LLB Auction decide an estimate?
The specialist compares the work with recent auction results for the same artist, medium and period, then adjusts for size, date, subject, condition and provenance. The estimate is a range, such as 3,000 to 5,000 EUR.
What is the difference between an estimate and a reserve?
The estimate is the public range printed with the lot. The reserve is the confidential minimum hammer price agreed with the seller, set at or below the low estimate. Below the reserve, the lot is unsold.
Does LLB Auction authenticate works?
Every work is examined by the house’s specialists before it is catalogued, and its provenance and documents are checked. A work that cannot be authenticated or whose provenance cannot be established is not offered.
Can I get a valuation without selling?
Yes. A valuation from LLB Auction carries no obligation to consign. Many owners ask for one to know what a work in their collection is worth at auction today, and decide later whether to sell.
Is a condition report available before I bid?
Yes. LLB Auction writes a condition report with photographs for each lot, and it is available to any bidder on request before the sale closes.
Sell with LLB Auction
Want an opinion on a work?
Whether you plan to sell or want to know what a work in your collection is worth, our specialists reply with a free, no-obligation valuation.
Request a valuation