Ramtin Naimi

So that is definitely where status comes into play.

It's why when you see the boards of these museums, they don't look like boards of any other industry in the world because the boards unlock access to what these guys consider to be the greatest art.

What is surprising about how the big four houses work that you've learned?

The funny thing is that they compete for the artists very similarly to the way VCs compete for deals.

It's very obvious who are the artists who are the most in commercial demand, who are the most in institutional demand, and who they could see building their careers over the next 10, 20 years.

The courting process is the same.

We'll do a better commission split with you.

It's not 50-50 with us.

We'll go 60-40.

We'll go 70-30.

You want a signing bonus?

Here's a million dollars cash up front.

Go with us.

Don't go with them.

It's very competitive dynamics amongst them to get the best artists.

Generally speaking, in the talent world, contracts are pretty ironclad.

You can't just go from one person to the next.

I still don't quite understand how that works.

I'm still curious to learn that aspect.

But artists do frequently go from one gallery to another.