If your art is sold by a dealer or gallery on consignment, you are entitled by statute to be paid within ninety days of the sale. If you are not paid within 90 days, you are entitled to 5% interest, plus any costs and attorneys fees needed to collect the money.
If you have not been paid 180 days after the sale, you are entitled to three times what you should have been paid, plus interest running from 90 days from sale, in addition to attorneys fees and costs to collect the money.
This only applies to art for sale by consignment in Massachusetts. Other states have different laws governing the consignment of fine art. Drop us a line if you have questions about the laws in other states.