The principal beneficiary had been active in the art world for years and was confident of the integrity of his art dealer’s advice on the sale of his important collection.

Invited by the trustee to comment, Cadell disassembled the previous advice and helped show the upsides of an alternative competitive process, laying out all the facts in a calm and measured way. This resulted in a change of direction across all dimensions: auction house selection, sale strategy and the use of private treaty sales (client quote “it’s like night and day”) to optimise the outcome. To-date, sales have delivered an 85% increase on initial auction estimates.