Damage to a sculpture after being sold at auction
During a commercial auction, a sculpture was damaged while it was being moved, just after it had been auctioned.
As part of the damage survey and in order not to increase the financial impact, the decision was made, in consultation with the policyholder, to buy the sculpture back at the auction price, restore the two damaged sections, then to put it up for auction again.
The handler was implicated in the case.
GM CONSULTANT INTERVENTION
Thanks to the remarkable work carried out by the restorer, then by the auctioneer, the new sale achieved an excellent result and made it possible to close the file without any further actions.
The time taken to process the file was a further advantage. If a work of art is put back on sale too quickly, it is not generally successful at auction. In addition, the new auction date was favourable as it fell just before a retrospective exhibition dedicated to the artist at a museum.