Art Dealer Secrets: 10 Questions for British Dealer Oliver Shuttleworth

Oliver Shuttleworth of

Not everyone needs the publicity that usually accompanies high-profile art sales at auctions. 

It is widely known in the art world that the motivation for any sale of property usually comes down to the so-called "three Ds": death, debt, and divorce. However, there is a fourth D that is just as important to art collectors, gallerists, and anyone in the trade: discretion. 

Prudence is paramount for most art collectors - this is the reason why many auction directories reveal the previous owner of a work of art with the phrase "private collection" and nothing else. This anonymity is pervasive across the cultural landscape, although new regulations in the UK and EU due to come into effect in 2020 are changing the status quo. 

These rules, known as (or 5MLD) is an attempt to stop terrorism and other illegal activities that have traditionally been supported by opaque financial systems. 

In the UK, for example, “art dealers are now required to register with the government, officially verify the identity of clients and report any suspicious transactions – otherwise they face fines, including imprisonment.” . The deadline for UK art dealers to comply with these tightened rules is June 10, 2021. 

It remains to be seen how these new laws will affect the art market, but it's safe to assume that privacy will continue to be paramount for art sellers. It's rare to have to seek the spotlight while watching a drastic divorce or, worse, bankruptcy. Some sellers also simply prefer to keep their business dealings private.

To accommodate these sellers, auction houses were blurring the lines that historically separated the public realm of the auction house from the private realm of the gallery. Both Sotheby's and Christie's now offer "private sales", for example, encroaching on territory that was once reserved for gallerists and private dealers. 

Sign in to a private dealer

The private dealer is an important but elusive part of the art world's ecosystem. Private dealers are generally not affiliated with any one gallery or auction house, but have close ties to both sectors and can move freely between them. By having a large list of collectors and knowing their individual tastes, private dealers can sell directly on the secondary market, that is, from one collector to another, allowing both parties to remain anonymous.

Private dealers rarely operate in the primary market or work directly with artists, although there are exceptions. At best, they should have an encyclopedic knowledge of their field and pay close attention to market indicators such as auction results. Samples of Privacy, Private Art Dealers cater to the most discreet buyers and sellers in the art world.

To demystify this particular breed of artists, we turned to a London-based private dealer. . Oliver's lineage exemplifies an impeccable art dealer pedigree - he rose through the ranks at Sotheby's before joining a reputable London gallery and eventually going on his own in 2014.

While at Sotheby's, Oliver was director as well as co-director of Impressionist and Contemporary Art Day Sales. He now specializes in buying and selling works in these genres on behalf of his clients, as well as post-war and contemporary art. In addition, Oliver manages every aspect of his clients' collections: advising on proper lighting, clarifying restitution and lineage issues, and making sure that whenever in-demand items become available, he offers work before anyone else.

We asked Oliver ten questions about the nature of his business and found that his responses were a good reflection of his own demeanor—direct and sophisticated, yet friendly and approachable. Here's what we learned. 

Oliver Shuttleworth (right): Oliver admires the work of Robert Rauschenberg at Christie's.

AA: In your opinion, what are the three things every private art dealer should strive for?

OS: Reliable, competent, private.

AA: Why did you leave the auction world to become a private dealer?

OS: I enjoyed spending time at Sotheby's, but part of me really wanted to explore the work of the other side of the art trade. I felt trading would be the best way to get to know clients better, as the frenetic world of auctions meant that it was impossible to build collections for clients over time. Reactive nature Sotheby's couldn't be more different from Oliver Shuttleworth's vibrant fine arts.

AA: What are the advantages of selling a work through a private dealer rather than at auction?

OS: Margin is usually less than at an auction, resulting in a more satisfied buyer and seller. Ultimately, the salesperson is in charge of the sales process, which many appreciate; there is a fixed price, below which they will not really sell. In this case, the auction reserve should be as small as possible; the private price of the net income must be reasonable, and it is the salesperson's job to establish a realistic but satisfactory level of sales.

AA: What types of clients do you work with? How do you check your clients and their property?

OS: Most of my clients are very successful, but they have very little time - I first manage their collections, and then if I get a wish list, I find the right work for their taste and budget. I can ask a salesperson who is not related to my area of ​​expertise to ask for a specific painting - this is an incredible part of my job as it involves a lot of professionals in the art trade.

AA: Are there works by certain artists that you refuse to represent or sell? 

OS: In general, everything that is not related to impressionism, modern and post-war art. However, in recent years, I have become more and more interested in contemporary work, as tastes change so quickly. There are specific contemporary art dealers that I enjoy working with.

AA: What should a collector do if they want to sell a piece privately… where do I start? What documents do they need? 

OS: They should find an art dealer they trust and ask for advice. Any decent professional in the art trade who is a member of a good society or trade organization (in the UK) will be able to verify the correctness of the required documentation.

AA: What is the typical commission for a private dealer like you? 

OS: It depends on the value of the item, but can range from 5% to 20%. Regarding who pays: all payment details must be 100% transparent at all times. Make sure all paperwork is prepared to cover all costs and that there is always a sales contract signed by both parties.

AA: How important is the certificate of authenticity in your field? Is a signature and an invoice from the gallery enough to send you a work?

OS: Certifications or equivalent documents are vital and I won't accept anything without excellent provenance. I can apply for certificates for installed works, but it's more important than ever to make sure you keep perfect records when buying art. An inventory database, for example, is a great tool for organizing your collection. 

AA: How long do you usually keep works on consignment? What is the standard parcel length?

OS: It depends a lot on the artwork. A good painting will be sold within six months. A little more, and I will find another way to sell.

AA: What common misconception about private dealers like you would you like to debunk?

OS: Private dealers work incredibly hard because we have to do it, the market demands it - lazy, hardworking, elitist people are long gone!

Follow Oliver for an insight into the artwork he deals with on a daily basis, as well as the highlights of auctions and exhibitions, and the art history for each masterpiece he presents.

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