"This artwork can be paid in installments." This phrase appears many places around my galleries, and as I often explain this to folks, I figured it worth writing once, exhaustively, so as to reference it throughout my site. Also, I know some may not contact me for information, fearing a hard sell or something. So, let me walk you through how I do payments.
Typically, starting at about the $750 price tag, I allow paintings to be purchased on payment plans. Below that and I guess I consider smaller pieces, while still not cheap necessarily, to fall into the category of other things we might just put on our credit cards or save up a little for and buy in one go. And while one can still put, say, $2000 on a credit card, interest accrues and the painting becomes more expensive. So, the payment plan is meant to make artwork more affordable.
Here's how it works: if you find yourself interested in a painting that qualifies, you will be asked to pay 20% of the price of the painting up-front. This initial payment is non-refundable, and places a 6 month hold on the artwork--I'll mark the piece as "sold." From there, you have 6 months to pay off the painting at your leisure. You can make monthly installments, pay one big chunk right at the end, or whatever you'd like. You can pay it off earlier than 6 months if you prefer. When the balance is paid, I ship your artwork to you.
If you change your mind along the way or your situation changes such that you can no longer purchase the painting, then I'll happily refund whatever you've paid off, minus the initial 20%, which is kept. I understand that life happens and you can't plan too reliably for the future, so don't worry about it--if you need a refund, you can get it. The 20% basically compensates me for lost opportunities to sell the piece in the meantime by marking it as sold while in-process. Obviously, if you need a refund, I'll put the painting back on sale.
At the end of 6 months, if your painting isn't paid off, I may choose to refund whatever you've paid (minus the deposit) and put the painting back on sale. This may be because I've had other buyers inquire about it in the meantime, or maybe you just disappeared. We'll talk about it first. So if you've been trying to pay it off but just need a little more time, I'm not a harsh man.
(L:) By using a payment plan, "The Sacrifice" was one of many paintings to make its way to a new home. The owner chose a nice thick frame and sent me a photo, too!
Starting at $3000, which hasn't happened often, but may happen more in the future, the same applies: 20% down, however you can take up to 12 months to pay it off.
My goal is to make owning an original painting within the reach of many more people, while allowing the monthly payment to still be meaningful on my end and worth the accounting. That $950 painting, for instance, could be yours for $190 today, and about ~$130/mo for 6 months (adding in shipping). That's bound to be much more doable than forking over a grand today.
It's been very successful for me over the years and has allowed many people to afford pieces they couldn't get all at once, or to secure a piece they loved that they might be able to pay off a few months from now, but wanted to make sure to reserve before another collector got it. At any given time I'm usually working with multiple people on payment plans.
So? See something that catches your eye? Drop me a line and let's make it happen! -->
via Exit Within: the Gallegos Blog Randy Gallegos http://blog.gallegosart.com/2013/03/payment-plans.html
Typically, starting at about the $750 price tag, I allow paintings to be purchased on payment plans. Below that and I guess I consider smaller pieces, while still not cheap necessarily, to fall into the category of other things we might just put on our credit cards or save up a little for and buy in one go. And while one can still put, say, $2000 on a credit card, interest accrues and the painting becomes more expensive. So, the payment plan is meant to make artwork more affordable.
Here's how it works: if you find yourself interested in a painting that qualifies, you will be asked to pay 20% of the price of the painting up-front. This initial payment is non-refundable, and places a 6 month hold on the artwork--I'll mark the piece as "sold." From there, you have 6 months to pay off the painting at your leisure. You can make monthly installments, pay one big chunk right at the end, or whatever you'd like. You can pay it off earlier than 6 months if you prefer. When the balance is paid, I ship your artwork to you.
If you change your mind along the way or your situation changes such that you can no longer purchase the painting, then I'll happily refund whatever you've paid off, minus the initial 20%, which is kept. I understand that life happens and you can't plan too reliably for the future, so don't worry about it--if you need a refund, you can get it. The 20% basically compensates me for lost opportunities to sell the piece in the meantime by marking it as sold while in-process. Obviously, if you need a refund, I'll put the painting back on sale.
At the end of 6 months, if your painting isn't paid off, I may choose to refund whatever you've paid (minus the deposit) and put the painting back on sale. This may be because I've had other buyers inquire about it in the meantime, or maybe you just disappeared. We'll talk about it first. So if you've been trying to pay it off but just need a little more time, I'm not a harsh man.(L:) By using a payment plan, "The Sacrifice" was one of many paintings to make its way to a new home. The owner chose a nice thick frame and sent me a photo, too!
Starting at $3000, which hasn't happened often, but may happen more in the future, the same applies: 20% down, however you can take up to 12 months to pay it off.
My goal is to make owning an original painting within the reach of many more people, while allowing the monthly payment to still be meaningful on my end and worth the accounting. That $950 painting, for instance, could be yours for $190 today, and about ~$130/mo for 6 months (adding in shipping). That's bound to be much more doable than forking over a grand today.
It's been very successful for me over the years and has allowed many people to afford pieces they couldn't get all at once, or to secure a piece they loved that they might be able to pay off a few months from now, but wanted to make sure to reserve before another collector got it. At any given time I'm usually working with multiple people on payment plans.
So? See something that catches your eye? Drop me a line and let's make it happen! -->
via Exit Within: the Gallegos Blog Randy Gallegos http://blog.gallegosart.com/2013/03/payment-plans.html
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