How Profitable Is It to Be a Fence and How Does Someone Get in That Position?
Fencing is a highly lucrative business, with top fences earning millions of dollars per year. The profession requires a high level of skill and experience, as well as a strong network of contacts in the art market.
To become a fence, individuals typically start by working as an apprentice or assistant to an established fence. This allows them to learn the ropes of the business and build a reputation for honesty and reliability. Over time, they may establish their own business or continue to work with their mentor.
The profitability of fencing depends on a number of factors, including the size and quality of the fence's inventory, the demand for the type of artwork the fence specializes in, and the fence's ability to negotiate favorable deals with collectors and dealers. Top fences can earn a commission of up to 50% on the sale of a piece of artwork, which can add up to significant profits over time.
Related Questions:
- What skills are necessary to become a successful fence?
- How does a fence establish a network of contacts?
- What are the different types of artwork that fences typically handle?
- How does the profitability of fencing vary depending on the type of artwork?
- What are the risks and challenges associated with being a fence?
Related Hot Sale Items:
- Sotheby's Art Advisory
- Christie's Auction House
- Phillips Auction House
- Heritage Auctions
- Swann Auction Galleries
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