Lilac Gallery has partnered with Art Money for our clients to be able to purchase any artwork from our gallery. With a deposit of 10% minimum, our clients can take the artwork(s) home to enjoy now than pay later. Payment is spread over 10 monthly installments. Your first payment is the deposit paid directly to the gallery, as Art Money credit covers the remaining balance of 9 equal payments over 9 months, no interest. Your first repayment to Art Money will be debited one month after purchase. For example with Art Money credit, an artwork that costs $5,000 is only $500 per month over 10 payments (the first payment is the deposit). The benefits for our clients when using Art Money include:
Apply for any amount from $1,000 to $100,000.
Purchase one or multiple works.
Include Shipping and framing costs and taxes them in the price of the work, if applicable.
Pay more than a 10% deposit (Art Money deposit is flexible).
Purchase works priced more than $100,000 by increasing the deposit amount.
There are no setup charges, account fees or ongoing fees to use Art Money.
Pay some or all of the outstanding balance of your account at any time (there is no penalty for doing so).
Our clients can apply for Art Money credit any time so they are ready to go when finding the artwork(s) you love. Online applications take only a few minutes and most are approved in real time through their secure FinTech process by following these simple three steps:
Apply.
Applications are made online and only take a few minutes. Most people are approved in real time (a matter of seconds). Should your application be referred for any reason we will be in touch promptly. You will be asked to provide some standard financial information at this point.Choose.
When you are ready to buy a specific artwork, log in (or stay logged in), select the gallery you are purchasing from and the purchase amount. This will take another minute. You will also select your preferred payment method (bank account or credit/debit card) at this point.
Buy.
Once the gallery has confirmed the price and received your deposit, you may take the work home.
Or apply for Art Money on the spot at the gallery or art fair, when you have found the work you’d like to purchase. Once you’ve set your art budget and been approved, using Art Money credit for future purchases is even easier and faster (a minute or so). You may create a new purchase, make multiple purchases or apply to increase your credit limit at any time.
How does it all work? As a partner Lilac Gallery provide a commission to Art Money, up to 10%, enabling the no interest business model. Art Money takes the repayment risk, and you take your art home to enjoy now, whilst paying over time. A win win program to purchase art, supporting artists, galleries and a sustainable creative economy. To be eligible for Art Money Credit, you will need to be an individual applying in your own name and to be a U.S. citizen or resident, of minimum signing age in your State of residence, other terms and conditions apply.
