Negotiate or not the price of an artwork in a gallery?

Some points put forward by the authors¹:

1. Gallery owners are familiar with negotiating the price of the works they propose. An art gallery is primarily a commerce and gallerists themselves continually have to negotiate with the artists they represent, clients who offer their works, etc.

So no gallerist will be outraged that an interested customer wants to negotiate the price of the work he wishes to acquire.

2. Shyness has no place here. Many are afraid of losing face by engaging in an honest price negotiation, afraid to present itself as the "penniless" who wants to acquire a luxury item without the means to do it.

Error. All gallerists will tell you that the richest people are the ones negotiating the hardest way. Do not forget that they are rich because negotiation is part of their life.

3. Some situations may lead you to put aside the price negotiations.
   1. For several years you have maintained a fruitful relationship with a gallery, "your" gallery. You know them, they know you.  Your gallerist knows that you are familiar with the market and very knowledgeable about the artists that interest you.  On your side, this gallerist has provided to you some interesting works in the past and you want to maintain, if not emphasize, this relationship.  Over the years, trust has taken place and neither one is interested to break it. In this case, you will pay the asked retail price knowing that it is right and guarantor of future collaborations advantageous for both parties.
   2. Some galleries seen as "prestigious", particularly in contemporary arts, rely on significant waiting lists of collectors eager to acquire works of fashionable artists who are part of their "team".

Some have to have minimally attended some galleries of the 8e arrondissement in Paris or Chelsea to realize that your "passage" is not likely to have perturbed the staff there!  Count yourself lucky if one deigns to specify you the order of magnitude of the price of the proposed works and you will probably need to be sponsored by a long date client for one to condescend to register you on the list of potential buyers.

That said, you do not negotiate anyhow. The key word is "respect".

Hunter ² recalls the main reasons that can make a gallery to provide you with a discount:

• You're a good client
• The piece has been in inventory a long time
• You're buying more than one piece
• You're buying a multiple
• The gallery needs cash right now to cover overhead
• The asking price was inflated
• There's something wrong with the art
• You offer to pay in cash

The don'ts:

• Play the galleries one versus others
• Negotiate and ultimately ... do not buy
• Give the appearance of a geek

The magnitude of the discounts that you may be granted is about 10% to 15%.

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