The Secret Gallery 3
“Bet, how do secret transactions usually work in the black market?”
“Once the artwork is appraised and confirmed as authentic, payment is made according to the seller’s preference. For large sums, it’s usually a bank transfer; otherwise, cash.”
“And what about contracts?”
My question must have seemed naive because she let out a derisive laugh.
“It’s called the black market for a reason. There’s no such thing as a contract.”
I thought about my grandmother’s way of doing business. She’s someone who runs a network of forgery experts and smuggling operations. Whether she’ll create a forgery this time is uncertain, but smuggling the painting into New York is unavoidable.
Bet Porter watched me, her large eyes widening in curiosity.
“Do you think the Sunyang Gallery would operate like a black market?”
“Yes. That’s why they’ll agree to almost any condition we set.”
“No way! Why would a place like Sunyang Gallery do something like that? I can understand keeping the deal confidential, but there’s no reason for the transaction itself to be illegal.”
How could someone who has spent her life immersed in art understand the tangled web of my family?
“Bet, even if you’re curious, don’t let it lead you to unnecessary places. Just focus on what we gain from this deal: an annual sponsorship of three million dollars and possibly masterpieces that could be exhibited forever. You wouldn’t want to lose that because of curiosity, right?”
Though I spoke with a smile, Bet Porter recognized the serious warning and fell silent, her expression turning solemn.
“Now, here’s the condition we’re going to propose. We’ll make some concessions to make things easier for them. We can even negotiate the price, but there’s one thing we won’t compromise on: the contract.”
“But isn’t that impossible given the current situation?”
“If there’s no contract, there’s no deal. And that contract must include the personal signature of the real owner of Sunyang Gallery, not just the formal gallery director.”
“The real owner? Who’s that?”
“The chairman of the Sunyang Art Foundation.”
She must be feeling overwhelmed. Demanding the personal signature of the foundation’s chairman for an illegal transaction is essentially saying we don’t want to do business.
Before she could say anything, I raised my hand to stop her.
“We’re talking about a six hundred million dollar deal. The chairman of the Sunyang Foundation won’t pass up such an opportunity.”
“Do you know them? A family member, perhaps?”
“I told you, unnecessary curiosity is off-limits.”
She cautiously closed her mouth again.
“Here’s a tip: say this. Asian companies, especially Japanese and Korean ones, are known for not granting authority to their representatives. We need direct confirmation from the top decision-maker. Of course, the contract will remain strictly confidential and never be disclosed. You can even include a confidentiality clause in the contract. That should be acceptable to them.”
“And if they refuse?”
“Then make it clear there’s no deal. Stand firm. That way, you’ll get the contract.”
My grandmother, who knows that Vice Chairman Jin and I have agreed on joint decision-making, will likely pour all her resources into acquiring more Sunyang shares.
But turning down a staggering six hundred million dollars is unimaginable. She might not like it, but she’ll pick up the pen and sign her name on the contract.
“Six hundred and thirty million.”
“Six hundred million dollars. That’s a fair assessment. If you want more, you could go to Christie’s or Sotheby’s. You’d likely get over six hundred and thirty million. But considering the hefty auction fees, six hundred million is more practical.”
Secretary Song could tell from Bet Porter’s confident expression that her judgment was spot on.
“Excuse me for a moment. I can’t make this decision alone… I need approval.”
“Take your time.”
As Secretary Song hurriedly stepped outside with his phone, Bet Porter couldn’t help but chuckle. Jin Do-jun’s words were right on the mark. Despite flying all the way to the U.S., he had no decision-making power.
It was hard for her to understand. If he had no authority, why bother with the trip? Even if he wasn’t the decision-maker, shouldn’t he have been delegated the authority to handle meetings and negotiations?
While she pondered this, Secretary Song returned with a smile.
“Alright, let’s go with six hundred million dollars.”
Bet Porter barely suppressed a laugh at the man’s attempt to act as if it were his decision.
“Thank you for making such a tough decision. Have we crossed a major hurdle?”
“Pardon? What do you mean…?”
“Well, I have a feeling there are many more hurdles to overcome before this deal is done.”
Bet Porter took a deep breath and addressed Secretary Song.
“Based on what Mr. Song mentioned last time, this doesn’t seem like a standard transaction, so let me outline the terms first. I seem to have a longer career in this field.”
Recalling Jin Do-jun’s thoughts and words, she continued.
“The payment for the artwork will be transferred to the account of your choice. We’ll send a 10% deposit first, and we’d like to receive the artwork at this gallery’s storage. Of course, our experts will need to appraise it. Once confirmed as authentic, we’ll send the remaining balance immediately. Naturally, this is a confidential transaction. How does that sound?”
Secretary Song’s face lit up.
“You’re quick to catch on. That’s exactly what we want.”
“Since I’ve agreed to your terms, I trust you’ll accommodate my very minor request.”
“Go ahead.”
“We need to draft a contract with the details I just mentioned: payment method, delivery schedule…”
“A c-contract…?”
“I’m not finished yet.”
Her firm tone silenced Secretary Song.
“Lastly, I need a handwritten signature on the contract. In such uncertain and secretive deals, we need confirmation from the artwork’s true owner.”
“The owner is Sunyang Gallery’s…”
“No, I mean the real owner. The person Mr. Song just spoke with on the phone. The chairman of the Sunyang Art Foundation, Madam Lee.”
Secretary Song was at a loss for words, blinking in surprise.
“Of course, I’ll collect the signature myself. If Madam Lee finds it inconvenient to come to New York, someone from our side will go to Korea.”
“That seems difficult, if not impossible.”
Though he managed to speak, Bet Porter smiled gently.
“We’re talking about transferring six hundred million dollars to an untraceable account. I don’t think my request is unreasonable. And I’ve accepted all your difficult demands. If you can’t even provide a basic contract signature, what assurance do I have for this deal?”
“N-no, that’s not what I meant…”
Bet Porter waved her hand to cut him off.
“With all due respect, Mr. Song, you don’t have decision-making power, do you? Why not make another call for approval? Oh, and be sure to relay this: if my conditions aren’t met, this deal is off.”
Secretary Song’s face turned ashen as he picked up his phone and stepped outside again.
“Are you serious? Have you lost your mind? You’re really going after Grandma, aren’t you?”
“Why do you have to put it so harshly?”
“The moment she signs that contract, she’s implicated in smuggling, using a proxy account… No, with six hundred million dollars, it’s definitely an overseas account, so that’s a violation of foreign exchange laws. And embezzling foundation assets? For that amount, a suspended sentence is out of the question. Even the best lawyer couldn’t get her less than five years.”
Oh Se-hyun, enjoying another vacation in New York, clicked his tongue after hearing the whole story.
“That’s the only way to force her into retirement, isn’t it?”
“Forced retirement, huh…”
Oh Se-hyun still looked skeptical.
“But Do-jun.”
“Yes?”
“If the shares are held under a proxy, it might be hard to track them down. What if your grandmother decides to tough it out in prison? She could still move those proxy shares from behind bars.”
I couldn’t help but laugh. Oh Se-hyun still didn’t fully understand our family.
“Uncle.”
“Yeah?”
“My grandmother wouldn’t last a day in prison, let alone the prosecutor’s interrogation room. She’s lived over thirty years without lifting a finger. She can’t sit on anything less than a million-won Barcelona chair. Do you think she’d sit in an interrogation room chair?”
“But… do you really think she’ll sign the contract? Your family members never sign anything unless it’s a personnel issue.”
“It’s six hundred million dollars. For someone who needs money, that’s an irresistible temptation. Selling thirty expensive paintings all at once. It would take years to sell them safely one by one. She can’t refuse.”
I’m confident in my prediction. If she refuses to sign directly, I’ll have to resort to other methods. Plan B might be a bit rough around the edges, but so what? It might be amusing to show my grandmother, who pretends to be so refined, the reckless side of her grandson.
“She’s doing her job well.”
“She’s reputed to be a competent woman over there. The New York Art Center tried to recruit her as a director, but she preferred running a small gallery where she could operate freely, away from tradition and convention.”
“Why do I need to hear about how great she is?”
“S-sorry.”
The man reporting to Madam Lee Pil-ok quickly bowed his head.
“No matter how competent she is, she’s just a dealer in art. That gallery is merely a middleman. Why would a gallery, whose purpose is exhibition, spend six hundred million dollars on artwork they can’t even display?”
Madam Lee Pil-ok was convinced. This was a purchase by a wealthy American collector.
“An individual is buying all our paintings. That woman is just making sure she gets a hefty brokerage fee from this deal. Losing credibility with a wealthy sponsor would end her business. That’s why she turned down the director position at the New York Art Center, where she couldn’t make such money.”
Madam Lee Pil-ok believed that the only reason someone with talent and recognition would refuse an honorable position was for money.
The man, still bowing his head, cautiously spoke, watching her reaction.
“What should we do? Should we call the Insadong wizard to handle it?”
“No need. How are we supposed to work on thirty pieces? We wouldn’t finish by the end of the year. Get in touch with Young-gi and have him arrange a private jet. I could use a breath of New York air.”
“Yes, Chairman. Should we proceed with the usual method for this one as well?”
“Yes. Oh, and tell Secretary Song to set up a dinner with the New York Consulate. We’ll need their help, so I might have to do a bit of sweet-talking.”
“Understood. I’ll make sure the New York apartment is ready.”
“No, don’t bother. I want to stay in a hotel this time.”
“Yes, Chairman.”
Once the man left, Mrs. Lee Pil-ok put on her reading glasses and opened her notebook. After scanning the densely written pages, she picked up the phone.
A polite voice answered on the other end, and she spoke with a speed that belied her age.
“Soon-yang Electronics, Soon-yang Heavy Industries, Soon-yang Life…”
She continued listing the names of Soon-yang affiliates for a while, then closed her notebook and removed her glasses.
“Check the stock prices and market volume fluctuations. Also, find out which institutions can handle large-scale acquisitions.”
As she ended the call, Mrs. Lee felt her heart race at the thought of the stocks she could buy with six hundred million dollars. It had been a long time since she felt this kind of thrill.