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| 'Cashmere' by John Singer Sargent | ||||||
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Timothy Sammons Fine Art Agents was instructed to examine the market for this painting, establish its current value and report on the sale options in light of conflicting advice as to value and method of sale. |
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The choice of auction house, the questions around Export, and every aspect of marketing and promotion, including the location of New York, was determined by Timothy Sammons Fine Art Agents, who worked alongside the chosen auction house throughout. |
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The picture sold through Timothy Sammons Fine Art Agents for US$11,110,000 (£6,652,695). This was a world record for the artist and a world record for an American painting at the time. Following the sale, Timothy Sammons Fine Art Agents established with the UK Inland Revenue that there was no taxable gain. |
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