Why do most galleries have a NO REFUND policy?
It's crazy; I should be able to return an item to an art gallery. They are just like any other retail store, right?
Not really, most art galleries do not own the work they are selling. They work more like a consignment establishment. The artist brings the work to the gallery with the understanding that payment occurs once the work has sold. That is also when the sales person and the gallery owner receive their commissions. It is a three-way split.
Now imagine trying to get your money back from all three parties. If you are like me, once I receive a paycheck I immediately put the money to use.
I am the ultimate economy helper.