Glossary

Consignor statement

A periodic report to a work's owner covering sales, amounts owed, and works still held.

The consignor statement is the accountability document of consignment: for a given period, which of the owner's works sold, at what price, what the gallery's commission was, what has been or will be remitted, and which works remain unsold.

Galleries that produce statements from live records — rather than reconstructing them quarterly from spreadsheets — spend less time on disputes, because the statement and the ledger can't disagree.

In the product: Invoicing & Payments. Related: Consignment