My notes from Larry Gagosian (Billionaire Art Dealer) turned into maxims:
1. The best way to raise the price of something is to say that you would never sell it.
2. The competitive drive of self-made billionaires does not go into remission once they've made a fortune.
3. You can be so successful selling to the masters of the universe that you *become* one.
4. Art is just money on walls.
5. Genius is easy to understand.
6. Genius has the fewest moving parts.
7. Genius lies in ignoring the unimportant.
8. No shareholders. No one to answer to. Retention of complete control.
9. You can sell things that aren’t for sale.
10. Read biographies. There’s always a blueprint. Gagosian read every biography of Joseph Duveen. Duveen was the art dealer to the Robber Barons. Gagosian is that today.
11. Self-reflection is how you lose your edge. A shark keeps swimming.
12. Disinhibition can be a superpower.
13. A cold call can change your life because relationships run everything.
14. Don’t forget that relationships run everything.
15. Bluntness is appealing to busy people.
16. What is the establishment of an existing industry ignoring? The answer is an opportunity hiding in plain sight.
17. Expanding a market is the first step to owning it.
18. Find information asymmetries. Don’t tell other people about them. Not even your lover.
19. Earned secrets produce treasure maps.
20. Be default aggressive and never forget that everything is for sale.
21. A sharp eye for who matters is the skill of an industrialist.
22. Industrialists build large financial empires.
23. You can build a billion dollar business without formal meetings, protocol, bureaucracy, and hierarchy.
24. Sales solves everything.
25. Make 100 calls a day.
26. If you love what you do the only exit strategy is death.
27. Hire a scholar. More companies should hire the Samwell Tarly of their industry.
28. Don’t allow other people to burnish their ethics on your hide.
29. Go to where your customers are. Gagosian opened a gallery at a private jet airport.
30. Be as liquid as the day is long. You can buy things at a heavy discount in recessions.
31. Money flows fast when the customer believes the opportunity is fleeting.
32. Pricing is guesswork.
33. There is always somebody somewhere making a lot of money. Find them. Sell to them.
34. Five hundred years ago people were complaining money ruined art. They say the same thing today.
Episode 325 Larry Gagosian (Billionaire Art Dealer) is available in every podcast app now!
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