Introduction

For many collectors, the focus is on building a collection, but over time, a different challenge arises: what happens to works that no longer serve your goals or your family’s legacy? This is where deaccessioning, the thoughtful process of selling, donating, or otherwise removing works from a collection, becomes essential.

At Mercer Contemporary, we guide collectors through deaccessioning as part of a broader legacy strategy, ensuring that families preserve what matters most while relieving heirs of unnecessary burdens.

“There comes a moment for every passionate collector where they’ve spent much of their life building a magnificent collection, and now they must decide what to do with it.”  Nicole Bray, Mercer Contemporary.

1. What Is Deaccessioning?

Deaccessioning refers to the formal process of removing works from a collection, whether through:

  • Sale – at auction, through private dealers, or via discreet private channels.
  • Donation – placing works in museums, universities, or nonprofit institutions.
  • Transfer – gifting works to heirs during life or through estate planning.

Rather than a loss, deaccessioning is a tool to strengthen a collection’s focus, liquidity, and legacy value.

Related: How Do UHNW Collectors Acquire Art Privately?

2. Why Deaccessioning Matters in Legacy Planning

Without planning, heirs may inherit works that:

  • Do not align with the family’s values or story.
  • Require expensive conservation, storage, or insurance.
  • Are difficult to sell without professional support.
  • Create tension among family members with different tastes or needs.

By proactively deaccessioning, collectors:

  • Define the strategy themselves rather than leaving difficult choices to children.
  • Ensure that the most important works are preserved, while others are placed in an appropriate context.
  • Unlock capital that can be reallocated to philanthropy, new acquisitions, or family needs.

3. Identifying Which Works to Deaccession

Not every artwork in a collection contributes equally to a legacy. Works that are often deaccessioned include:

  • Duplicates or works that are less representative of an artist’s best output.
  • Decorative acquisitions made for a specific residence that no longer serve.
  • Market-dependent works that may not hold long-term significance.
  • Pieces without provenance or strong records make them harder to position for the future.

An advisor helps assess which works add long-term cultural and financial value, and which may be candidates for deaccessioning.

4. How to Deaccession Strategically

Successful deaccessioning involves:

  1. Assessment & Appraisal
    • Commission a USPAP-certified appraisal to establish defensible values.
    • Evaluate the current market for each work.
  2. Consultation with Stakeholders
    • Discuss with family members, attorneys, and accountants to align on goals.
    • Where appropriate, consult with the gallery representing the artist or their estate, especially before donations.
  3. Market Placement
    • Decide whether to sell privately (for discretion) or publicly at auction (for visibility).
    • Leverage advisor relationships to secure favorable terms and priority placement.
  4. Philanthropic Alignment
    • Consider donating works with historical or cultural significance to a museum.
    • Explore fractional gifts or promised gifts where appropriate.
  5. Execution & Documentation
    • Ensure all transactions are documented and compliant with IRS, insurance, and estate requirements.

Related: Fine Art Appraisals: Everything Collectors Need to Know

5. The Benefits of Deaccessioning

Thoughtful deaccessioning creates:

  • Focus – refining collections to reflect a clear vision and narrative.
  • Liquidity – freeing capital for other investments or philanthropic giving.
  • Efficiency – reducing costs for storage, conservation, and insurance.
  • Relief for heirs – sparing future generations from making difficult choices.
  • Legacy value – ensuring only the most meaningful works define the collection.

6. The Role of an Art Advisor

Deaccessioning is delicate. It requires market knowledge, discretion, and diplomacy. Advisors help by:

  • Identifying which works strengthen a collection and which may be let go.
  • Consulting with galleries, estates, and curators to ensure alignment.
  • Managing private sales, auction consignments, and museum donations.
  • Collaborating with tax accountants and lawyers to structure sales or donations for maximum benefit.

Ensuring heirs inherit a streamlined, focused collection that reflects the family’s values.

Why Mercer Contemporary

Mercer Contemporary helps collectors and family offices manage deaccessioning with:

  • Over a decade of market expertise in Modern, Post-War, Contemporary, and Emerging art.
  • USPAP-certified appraisals are accepted by insurers and the IRS.
  • Trusted relationships with galleries, auction houses, and museum professionals.
  • Collaboration with lawyers and accountants to integrate deaccessioning into broader estate and tax planning.
  • Absolute discretion in sensitive sales and donations.

Conclusion

Legacy planning is not only about what you keep – it’s also about what you choose to let go. Thoughtful deaccessioning allows collectors to refine their collections, relieve heirs of unnecessary burdens, and ensure that only the most meaningful works define their legacy.

With the right guidance, deaccessioning becomes not a loss, but a powerful step toward preserving value, focus, and cultural impact for future generations.

Mercer Contemporary offers legacy planning, art advisory, and fine art appraisal services for UHNW collectors and family offices. To explore deaccessioning strategies for your collection, please contact us.