Late payments from collectors have an unfortunate domino effect...
"Here’s an unhappy scenario: a young gallery, with nearly empty coffers, hasn’t collected payment on six of the seven sales the dealer closed at a June satellite art fair in Basel. The dealer—who paid all fair-related expenses months ago—needs to cover his rent and overheads. He can’t pay the artist, who needs money for his own bills plus materials for an autumn show. To make matters worse, the dealer must remain calm and detached, while trying to extract payment. “It’s this old-school gentleman thing,” the dealer told me. “You don’t want to appear desperate.”"
2 comments:
that is just so depressing ! its like the river dried up and the boat won't float.
Who are these people who make deposits and then don't pay for 6 months? I wish I could do this for all the stuff I need to buy in my everyday life...
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