|
CASE STUDY:
The Real Estate & Movable Property: Inside a contemporary, 3 story 4000+ square foot home on an ocean-view ridgeline in Bel Air, significant collections of furniture, art, bronzes, jewelry, silver, art glass, decorative objects, carpets, furs, fashion and ceramics furnished the rooms and filled the closets. Client sought to place the art and objects his parents had collected in the hands of those who would similarly treasure them. Client wanted the house emptied and updated preparatory to leasing it. |
|
|
Challenges:
The various and important collections of client’s parents had been consolidated but not inventoried for 20+ years. Client was unresolved about what to keep and what to sell. Valuable pieces were packed, stored and forgotten. Items of only sentimental value sat side by side with exquisite objects. Envelopes of cash were stashed throughout the house, in drawers, pockets of clothing, books and drawers. An entire walk-in closet was given over to costume jewelry, among which were found gold, sterling, semi-precious stones, wrist-watches and coins.
The various and important collections of client’s parents had been consolidated but not inventoried for 20+ years. Client was unresolved about what to keep and what to sell. Valuable pieces were packed, stored and forgotten. Items of only sentimental value sat side by side with exquisite objects. Envelopes of cash were stashed throughout the house, in drawers, pockets of clothing, books and drawers. An entire walk-in closet was given over to costume jewelry, among which were found gold, sterling, semi-precious stones, wrist-watches and coins.
Plan of Action:
Greene joined the effort after Crowe had been at work 6 months, sorting personal and sentimental items from disposable and donatable ones. 2 full skips had already been filled and removed.
1. Met with client to survey the estate and movable properties and to receive directions and understand objectives.
2. Greene & Crowe inventoried closets and collected appraisements, documentation and hand-written inventories. They met with Christies, Bonhams and John Moran Auctioneers to solicit review and proposals. After site visits and tours, all three companies bid for the privilege of handling the sale of property. Client decided to split the collections between Christies and John Moran Auctioneers.
3. Greene contacted reputable dealers in 2nd hand dealers in fashion, furs, porcelain and crystal to determine interest and valuation.
4. Greene conducted an on-site “Garage Sale” to distribute the vast quantity of every-day and duplicate items, including kitchen ware, electronics, media, gym equipment, tools, costume jewelry, books, glassware and collectibles.
5. Intake: Greene & Crowe supervised the inventory and packing of collections by auction house personnel
6. Coordination with shipping and packing companies for delivery to Christies, NY & UK.
7. Monitored and attended auction events, comparing inventories with catalogues and sales reports. Arranged returns to client or re-presentation at auction for previously unsold items.
8. Pursued insurance indemnification for items broken by movers.
9. Interviewed estate sales companies for distribution of residual furnishings, art and decorative objects.
10. Assisted with the removal by clients of contents of the office, including financial and personal documents, safes, gold coins, jewelry, keepsakes and equipment.
11. Arranged for smelting of residual sterling items and sale by weight at LA jewelry mart location.
12. Advised Clients to explore benefits of documented donation for IRS purposes. Supervised 2.5 days of appraisal, documentation & removal of remaining items subsequent to emptying of the house and thorough cleaning.
13. Crowe engaged a contractor to paint and make repairs: including removal of break-fast nook banquette, the marble mantle of the LR fireplace and the construction of an 8’ x 8’ window in the LR wall, interior & exterior painting, refinishing of floors, and exterior landscaping update.
Placement of the property within the high-end rental market.
Greene joined the effort after Crowe had been at work 6 months, sorting personal and sentimental items from disposable and donatable ones. 2 full skips had already been filled and removed.
1. Met with client to survey the estate and movable properties and to receive directions and understand objectives.
2. Greene & Crowe inventoried closets and collected appraisements, documentation and hand-written inventories. They met with Christies, Bonhams and John Moran Auctioneers to solicit review and proposals. After site visits and tours, all three companies bid for the privilege of handling the sale of property. Client decided to split the collections between Christies and John Moran Auctioneers.
3. Greene contacted reputable dealers in 2nd hand dealers in fashion, furs, porcelain and crystal to determine interest and valuation.
4. Greene conducted an on-site “Garage Sale” to distribute the vast quantity of every-day and duplicate items, including kitchen ware, electronics, media, gym equipment, tools, costume jewelry, books, glassware and collectibles.
5. Intake: Greene & Crowe supervised the inventory and packing of collections by auction house personnel
6. Coordination with shipping and packing companies for delivery to Christies, NY & UK.
7. Monitored and attended auction events, comparing inventories with catalogues and sales reports. Arranged returns to client or re-presentation at auction for previously unsold items.
8. Pursued insurance indemnification for items broken by movers.
9. Interviewed estate sales companies for distribution of residual furnishings, art and decorative objects.
10. Assisted with the removal by clients of contents of the office, including financial and personal documents, safes, gold coins, jewelry, keepsakes and equipment.
11. Arranged for smelting of residual sterling items and sale by weight at LA jewelry mart location.
12. Advised Clients to explore benefits of documented donation for IRS purposes. Supervised 2.5 days of appraisal, documentation & removal of remaining items subsequent to emptying of the house and thorough cleaning.
13. Crowe engaged a contractor to paint and make repairs: including removal of break-fast nook banquette, the marble mantle of the LR fireplace and the construction of an 8’ x 8’ window in the LR wall, interior & exterior painting, refinishing of floors, and exterior landscaping update.
Placement of the property within the high-end rental market.
|
|
