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From ; Rehl Galleries. Ins

You Mean I Have to Pay for that Painting?

The next question asked was: How do you arrange payment for a work of art? This really depends on where you are buying the piece. If you are purchasing directly from an artist or from a private individual, you are probably going to have to pay for it before they will release the item to you . and in many instances they may want the funds to have cleared their account. If you are buying from an auction room, and do not have a line of credit with them, the same terms will most likely apply. The best way to accomplish this is making your payment via bank transfer.

When buying from a gallery or dealer, there is usually a bit more flexibility. Ideally, everyone likes to be paid at the time the transaction is consummated. And in many instances galleries will also want to have cleared funds before they release an item . especially if it is your first purchase. But, galleries are also happy to work with clients in order to make the purchase of a work more comfortable and many will go out of their way to arrange a payment schedule that fits your needs . many don't charge extra for this.

It always pays to ask the gallery if they can extend some level of credit . especially if purchasing a work you really want goes beyond your comfort level or stretches your currently available funds. We often have both young and seasoned collectors who want something that might normally be out of their reach, in terms of price . this could be a painting for as little as $2,000 or as high as $1 million. However, by allowing them to pay for it over time they can more comfortably afford it.

It is also important to remember that most galleries, unlike auction rooms, will allow you to view the work in your home (some may want payment before doing this) and if, for some reason, the work does not look right, will give you a complete refund (usually minus any shipping costs). But be sure to check this out before you finish your transaction . there are galleries who will only give you a 'store credit', even if you only had the painting in your home for a day or two.

Howard L. Rehs