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by biztos 1937 days ago
I don’t think you actually can. I’m talking about collusion — I sell you the artwork for $X on the contract, but you also give me $Y for it in cash. Artist gets commission off $X, and nothing from $Y. And because it’s not an Actual Contract I haven’t broken the law.

Do you have a solution to that?

1 comments

I'm not sure this is a real problem. If you gave a Christie's rep $10M for a modern art piece, and gave them another $1M cash and said "this is off the books" I'm sure they could write down the sale was really only $10M. But why would you do that? You are paying extra to shaft the artist of royalties? To devalue work you just purchased? What is the benefit in this transaction?