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Ann
2 months ago
5

As the owner of an art gallery with a keen eye for upcoming talent, you find a painting that you feel is sure to net a large pro

fit from a relatively unknown artist. You contact the artist and negotiate to privately purchase the piece for $5,000, which you believe will be worth at least $25,000 in the next five years. A contract is signed to purchase the painting which is to be delivered to your gallery. Excited about the sale and with some extra time on his hands, the artist decides to do a search on you. Realizing that you are the successful owner of an art gallery, the artists feels that perhaps he sold the painting for too low of a price and returns the $5,000 check to you instead of delivering the painting. How should you proceed
Business
1 answer:
Katen [3.5K]2 months ago
8 0

Answer:

I would choose to sign a contract with the artist for a relatively brief duration, roughly five months, and agree to pay $5000 monthly or increase the painting price to $10000 or $15000

Explanation:

A significant immediate benefit can obscure long-term gains during this timeframe.

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