Questroyal 2009

the higher price. His response was that he always honors the price quoted and that if I delivered a check to his gallery by six o’clock that very eve- ning, we would have a deal. It was four fifteen in the afternoon—if the traffic was absolutely perfect, I might just make it. So I suggested, I thought reasonably, that I would deliver the check first thing in the morning, as the banks would be closed by the time I arrived anyway. But this was not acceptable to him. He said that it was now a sporting event: I would have a fair chance to make the deadline, and he could rescind the deal with dignity if I missed it. Not one to back down from a challenge, I fired up the BMW , fastened my seat belt, and looked at the clock. I had one hundredminutes, which was about five less than what I would need if I had a perfect trip. How much risk could I take? A ticket and I lose. This was becoming a defining moment, a revelation of character. I thought it better to be defeated by the law than by my own ineptitude as a driver. So, on that day, I was one with the road and the car and the little boy who always longed for a good reason to drive too fast. I arrived with about a minute to spare, perhaps a better driver than an art dealer. My friend honored his promise, and I left with another treasure. The Dealer I’m Not As both a collector and dealer, I have come to know a great many art dealers. Most have been willing to share their knowledge and have given heartfelt advice. But there was a type of dealer I never sought to emulate. Some dealers would make every effort to assessmymeans without any attempt to discover my interests. If they believed my net worthwas not deserving of their attention, I wouldbe quickly relegated to anunderling.These dealers could best be identified by the incredible arrogance they displayed. It was so pervasive that I could not decide if this was a character flaw com- mon to art dealers or a trait deliberately adopted. Perhaps they believed that such an attitude wouldmask otherwise transparent shortcomings or that it held some peculiar appeal to the elite they wanted to court. I am most proud of the effort I have made, in unison with my staff, to eliminate any semblance of a client hierarchy; however, in a profit-seeking enterprise, we can never really be perfect. Sometimes it is necessary to give the most attention to a buyer considering a seven-figure painting. But without a doubt, the satisfaction earned assisting the newor struggling collector is the very spice of life! Motivation Even the most inspired collectors need encour- agement.We all lead busy lives, and it is not easy to remain vigilant. This is the responsibility of the dealer. Opportunities arise randomly, and deci- sions must be made and action taken swiftly to gain the prize. This is yet another advantage of working with dealers who purchase their inven- tory. It is not only evidence of conviction and the most reliable form of vetting, it is the best way to secure those few paintings that briefly appear on the market—not just the most valuable paint- ings, but those that represent the best values in various price ranges. Dealers whose primary source of inventory is consigned paintings often do not secure the works they would most like to offer to clients. Sometimes I wish that I had some way to sound an alarm to alert my collectors to specific It is wise to discount my ideas in proportion to the degree of sales- manship you suspect, but do not miss a truth in plain sight. This is a defining moment in which many will look back and say, “If only I invested then.” — lms, spring 2009 Those with the confidence to act at this fleeting moment of deflation and cash preservation will secure a distinct advantage. — lms, spring 2009