Usually when you buy or sell anything online, you have to trust that the other party will comply with certain terms such as the buyer paying the full amount and the seller providing the goods as advertised. Unfortunately, the risks are well documented and both buyers and sellers can be the subject of transaction dissatisfaction if the goods are damaged or not as described leading to a financial dispute and damage to reputation.
Art Escrow can potentially bring integrity to art transactions by providing an independent financial and condition report brokerage before the final exchange of good and money takes place.
What is an escrow?
Escrow is an arrangement in which a trusted third party is invited to control the exchange of funds and goods between the buyer and seller, and they only release them when both parties are satisfied.
Highlighted benefits:
- You can buy or sell art online safely, securely, and confidentially.
- The buyer can inspect or arrange for inspection of the goods they are buying before paying.
- The seller has the assurance that they’ll get paid.
- If either party is unhappy with the sale transaction it can be cancelled with integrity and without reputational damage to either party
We would value your feedback:
Please let us know…
- have you used an art escrow service?
- if you haven’t used an art escrow service , would you consider using one?
Please email us your answer or thoughts on marketing@flightlg.com
