Paul Becker, founder and CEO of Art Money, talks about how Art Money enables art buyers to pay for a work of art from a gallery over 10 months while the gallery owner gets paid in 10 days (helping the gallerist pay the artist sooner too.)
This art buying model solves a stalemate between buyers—who want to purchase art but feel it is more responsible to pay for the works over time—and sellers who do not want to play the role of a bank.
Becker explains that 90% of his customers can afford to pay for their art upfront but it is a powerful psychological enabler for them to be able to pay over time.
More important, Becker explains, Art Money takes a widespread practice among art market veterans—paying for a work of art over time—and makes it available to new buyers who may not know that some galleries will over such terms to buyers.
“We allow people,” Becker says, “to say ‘Yes!'”