My name isCustomerand I would love to help. The next step would be for me to see pictures of the painting,signature and any labels on the back of the framing.Use the Add Files feature on your screen to add pictures one at a time.
This is an original watercolor by listed UK artist ***** ***** Pidgeon (1807-1880) titled At Thames, Ditton
painted in 1854 and re-framed in the 1980-1990 time period. The insurance/replacement value of this
painting is £7000.
I would suggest having the mat and backing replaced with an archival, acid-free material and the glass replaced with UV resistant glass. These were not readily available the last time this was framed and these newer materials will keep the paper from yellowing (acids in cardboard on the backing) and the UV glass will keep the painting from fading.
It is important for you to click the stars after you have read this answer.
My personal opinion is to not have a reserve when I am certain that a piece has good value,
but I understand you wanting to preserve your investment so a reserve price of £1,500 would be
a good place to be.
Insurance/replacement value is what you had asked for and I'm sure you understand that
it is higher than what an item's actual retail would be. The painting at auction would bring
£1500 to £2,500 based on sales of his other work.
I would suggest Sotheby's London,34-35 New Bond Street, London England as a first choice for a good auction house.
They can be nose-in-the-air and do turn down many good items, so be prepared for that
and to move on to another if they say 'not interested'. They have sold his work in the past, so
I hoping they will accept your piece with no qualms.
You are so welcome!