A rack for storing panels, and especially useful for drying of painted or gessoed panels, that is alternately configurable into different modes such that it can be inclined, laid flat, arranged vertically, or freestanding in the manner of an A-frame. Several best modes select dimensions that allow for components to be of similar and conveniently manufacturable dimensions and quantities of parts, to minimize costs and retain components in different positions depending upon their function during any of the alternate modes.