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Conor Murphy

10 Days Ago

Lay-a-way

Does anyone offer Lay -a -way for original works here. ??

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Mike Savad

10 Days Ago

i don't know what that means.


----Mike Savad
http://www.MikeSavad.com

 

Jessica Jenney

10 Days Ago

Mike, layaway can mean putting a deposit on an item to secure it for a later purchase.

 

Mike Savad

10 Days Ago

ah... no

i don't trust people. they may never come back. and mean while no one else can get it.


----Mike Savad
http://www.MikeSavad.com

 

Edward Fielding

10 Days Ago

Layaway and original art doesn't seem to go together.

I stick to buyers with good credit.

 

Conor Murphy

10 Days Ago

Like your answer Edward, i dont use it, just wondering does anyone use it.

 

Floyd Snyder

10 Days Ago

I do it all the time and I have never been burnt.

It is much easier for a photographer because I am not necessarily tying up the piece. I can print another out if I get a chance to sell one. One of the galleries I show in has a two-month layaway program and I have sold several pieces using their plan. It is optional. Not all members allow it.

A painter has to be more careful and make sure they get a significant amount of money up front.

It is really not an issue of trust because you never deliver the piece until it is fully paid for.

 

Mike Savad

10 Days Ago

if you make prints, sure its easy.

but unless there is a contract that states, you will pay X now, then have a total of XX amount of time to pay the rest and retrieve the art. and if you don't, you i don't know lose the deposit or get it back and the art goes back on the market.

the main thing is, while its in holding, a real buyer with real money that wants it right now, can't get it, because someone called dibs. and that person may never pay for it in the end, and you'll lose the sale from 2 people.


----Mike Savad
http://www.MikeSavad.com

 

David King

10 Days Ago

I wouldn't do it without some kind of "contract" like Mike indicates. Since I hate paper work and having transactions just hanging in the wind so to speak I don't do it, though no one has ever asked either.

 

Floyd Snyder

10 Days Ago

IMHO, it does not matter if it is a print or an original except as I stated above, the original is off the market where the "photograph" or print really isn't.

Everything else is the same and is based on the value or the piece and risk. But if do not send the piece until you get all of your money, there is no risk.

If you do not deliver the piece, there is no risk. And yes, you have to have some sort of "contract" or just a simple receipt (which is a simple contract) that spells out what people are going to do.

But I have taken "layaway" even on eBay items with nothing in writing other than an exchange of email.

The last one I did via eBay was a deal where the buyer sent me 1/3 to hold the piece and then two payments over the next two months. She paid like clockwork and I sent the piece.

You can look at things in two different ways. You can look for reasons to not make sales or you can look for reasons and ways to make sales.

I am always looking for reasons to make sales and none of the layaways have gone bad yet.


 

Edward Fielding

10 Days Ago

I would think of it like pawning something. If you can come up with the money before it sells to someone else, sure it's yours. But you risk the chance of it selling.

 

Floyd Snyder

9 Days Ago

If you do a lay-a-way right, you can not sell it out from under the buyer. I have no idea if that is a legal issue but it is an ethical one. You would have to honor the terms of the "contract".

Again, there is no risk if it is done right.

If it is an original, you have to hold if you tell the people you are going to hold it. You can keep taking offers on it, like a pending sale in the real estate business, but you have to hold it. If you think the buyer is not going to honor their commitment, you can call them and ask them to let you out of the deal because you have an all cash buyer.

If it is a print you sell the one you have to the new buyer and order a new one for the lay-a-way buyer.

Again, if this done right, there should be no risk to either the buyer or the seller.

We are not reinventing the wheel here. Every major retailer in the world has a lay-a-way plan. All you have to do is adapt it for the particular details of your situation.

Works like a charm!

 

Roger Swezey

9 Days Ago

.There was a time selling my works Face to Face, when I didn't accept credit cards.

A number of times, I had customers with limited amount of cash, wanted me to hold a particular piece with a deposit, to pay the rest at a later date.

Since I didn't want the bother, I told them to take the piece and mail me a check.

I never got burned (at least I can't remember if it ever happened)


And there's nothing more pleasing than to get a letter with money in it instead of a bill.

With a note effusively thanking for trusting them.

Especially when you completely forgot about the transaction beforehand.

 

Floyd Snyder

9 Days Ago

Back in the '70s, I did 30 some odd street fairs a year for several years. We did very well and about 75% of our business was all cash.

But we did take credit cards and personal checks. The first year or so I asked for ID, took their driver's license number and worried a lot. Then after that year or so, I realized not one check bounced. So I stopped asking because it was time-consuming. We took dozens and dozens if not hundreds of checks and not one of them ever bounced.

I was always amazed because we did have a few bounced checks in the brick and mortar stores but not that many in all the years we were in the business.

My experience of the nearly 50 years is that there are not a lot of people trying to run bad check scams or other "cheats" operating in the decorator of the low-end art market. Even in the art we had and still do have that sells in the low to mid thousand dollar range. There is no way to turn if. I had little or no resale value on the secondary market, pawn shops rarely if ever take it and there are no professional fences that want to deal in $100 stolen art. lol

The Internet has changed all of that but not because it is art per se... they are targeting anything for sale on the Internet.

 

Conor Murphy

8 Days Ago

Thanks everyone for their input, it was interesting hearing so many different views, I personally dont do Layaway's, but i think if someone said, here is a deposit, i will pay the rest in five weeks time, I would.

Thanks again.

 

Floyd Snyder

8 Days Ago

I was asked how much of a deposit I asked for on a lay-a-way.

I will not do one unless I have experience with the buyer and know at least a little about them unless I get the full cost of the item and small bit of profit out of the piece. Keep in mind here I am talking about repeatable art like photographers or prints including Limited Edition Prints.

A hypothetical may be a 24x36 stretched canvas that I pay $60 and sell for $239. I would want at least $100. That way I have no money tied up for the length of the lay-a-way. Typically I will not go past 90 days so the receipt would show $100 deposit and two additional payments of $69.50 each. On the reciept, I would get the exact dates the other two payments would be paid.

I am very lenient with people because I have never been burnt. I have had people call and tell me they can not make the second payment and wanted to pay the balance in full on the last payment date. I will do that.

When we did originals on lay-a-way in the galleries we took no less than 50% down.

 

Roger Swezey

8 Days Ago

In the "Good Old Days" when it was for me a "Seller's Market", I couldn't be bothered with lay-a-way.

Now, since it's apparently a "Buyer's Market", I may think differently.

 

David Randall

5 Days Ago

I'm with Floyd on this. One of my largest sales recently was a Lay-a-Way. The client really loved the work and had me hit her credit card every month for about six months. She then paid off the remainder when she could.

I'll do that any day. When a client really loves the work and is willing to stretch their finances to buy it, a very satisfying sale. Those with the cash to just buy sometimes don't have any real love for the art. It's just another decorative object among others they don't much care about. Some clients are far more satisfying than others.

It is very similar here in my brick and mortar framing & gallery. I have never had a bounced check, never had any issue with credit cards and not had an issue with theft either. It's just not a concern. I've been running my own shop for the past 15 years but been in the business for 50 working for others a good part of that. It's different than other businesses for that.

 

Alfred Ng

5 Days Ago

yes, for me usually it is a high price painting, the buyer wanted to pay as installment with date checks. it is work well for both artist and buyer.

 

Conor Murphy

4 Days Ago

Hi Floyd and David, glad to hear that you had good experiences with your lay a ways, I was never asked personally but it is good to know what to ask for % wise if I was asked.
Not everyone has the finance to purchase an original piece when they see it and fall in love with it, A lot of stores in America used to do it before but it is becoming less common now due mainly to the popularity of the credit card.

 

Roger Swezey

4 Days Ago

For someone whose life depended on creating and selling original art......

Accepting Lay a Way I found to be a pain in the neck.

Especially, when doing transient Art Shows.

The record keeping is annoying enough.

It's the logistics involved that's really troublesome...

Making sure the piece is segregated from other work and kept secured until the final payment is made

Then What?

How then to get that piece to the buyer is the final problem to deal with


Handing over the piece at the initial encounter to the ;potential buyer, with the promise to mail me the check is so,so much easier.

 

Floyd Snyder

4 Days Ago

Roger, all valid points pertaining to specific transactions. Not all cases are good candidates for lay-a-way, for sure.

Every sale has to be evaluated on a case by case basis.

 

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