ON KEEPING ‘EM HONEST: LARRY GAGOSIAN
The Picasso of Art Dealers
There was a painting that Si Newhouse wanted to buy in the early 1980s — “Aloha” by Roy Lichtenstein. I had sold several paintings from that collection to him, and this Lichtenstein was $1 million. Only a handful of paintings had sold for $1 million at that time. So I said, “Let’s write them a check.” And Si, who is a billionaire, said, “No, I’m not going to write a check for $1 million. Let’s pay them $100,000 a month.” And when I asked him why, he said, “I don’t want them to think that money comes that easily.” If he were willing to write a check right away, he explained, it would influence the negotiation. It was a shrewd lesson, especially since “Aloha” would later become worth well over $100 million.

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