The Wall Street Journal | Daniel Grant:
Galleries are increasingly telling buyers who they can and can’t resell to
If you have your eye on a piece of fine art, don’t be surprised if you have to do more than just write a check to purchase it: The gallery offering the piece may also want you to agree in writing not to resell the work at auction—or even to another collector—without getting their permission first.
Buyers of Deborah Butterfield’s horse sculptures must give the gallery first dibs when reselling a piece. Photo: Deborah Butterfield and Danese/Corey Gallery
Adding conditions and restrictions to sales agreements is becoming an increasingly common practice in the art world as dealers, worried that an overheated art-auction market is distorting prices, look to maintain control over who buys the works of the artists they represent…
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