I have just recently become the manager of a Gallery in Bermuda and have a question : When we sell a piece of art work and there is an agreement for the payment to be paid in installments, does the artist have to wait for the payment to be made in full until he/ she receives commission or is the commission paid in installments too?

It depends on your agreement with the artist, however for better business practice and gallery reputation it is always better to pay artist first and in full.

I am a fine art painter and also a gallery owner. I have made an aggreement with the artists I represent that they will get the commission as it is paid to me. They all seem to be OK with that. My gallery is small and I don't have the cash flow to pay ahead for artwork when I haven't received the money yet. What if the buyer doesn't finish paying for the piece? Then you are stuck with it to have to resell. I also do not have long term payment plans. The buy must pay within 2 to 3 months.
The artists in my gallery are fine with this arrangement. They would rather have a sure sale and wait for the money.
Best wishes adn yea art,
Diane Overcash
www.dianeovercash.com