Jon and Richard meet in a restaurant at noon to discuss about Jon’s paintings and the price that Jon agrees to sell on 1st January 2015. Also, the delivery, terms of payment, and the maintenance of the paintings. Jon brings his wife; Lizzie, to attend the meeting because she can elaborate how to maintain the quality of the paintings. Richard has never met Lizzie before.
Richard says Jon’s paintings are one of the most beautiful painting he has ever seen and would like to represent him. However, he requires 40% commission from every each painting he sells. Richard fall-back position is at 30% because he believes that the paintings of Jon are outstanding and will definitely catch a lot of rich buyers.
Jon feels the commission is too high. He wants to negotiate with Richard and offer him 25% commission. His fall-back position is that he will agree at 30% maximum if Richard can prove that he can sell the painting with good price.
The negotiation lasts for 3 hours before it ends with a good atmosphere.
** After this meeting, they plan to have the next meeting at Jon’s Studio to see the actual paintings next week**