The Professional Guidelines Committee recommends that galleries provide artists with the names and addresses of all collectors of their unique works. Option 1. The gallery pays the artist all proceeds due to the artist within thirty days of the sale of a work of art. No “sale on authorization” or “on credit” may be made without the written consent of the artist. All staggered proceeds received by the gallery are first paid to the artist until the artist is paid in full. 15. Security Interest. Ownership and the right to safeguard works of art or proceeds of sale shipped under this Agreement are reserved to the artist. The works of art are not subject to claims of the gallery`s creditors. The gallery undertakes to issue and provide the artist, in the form desired by the artist, with a financial statement and other documents that the artist may need to enhance his interest in the safety of the works of art. In case of acquisition of works of art by a party other than the gallery, the titles pass directly from the artist to the buying party. In case of purchase of a work of art by the gallery, the property will only be transferred to the artist with full payment of all sums due.
The gallery acknowledges that it has no rights and that it cannot mortgage or incriminate works of art in its possession, nor does it collect any royalties or obligations for which the artist may be held responsible. 3. Prices and terms of payment. This clause defines the gallery`s pricing obligations and the percentage of the gallery`s sale price. It is important to indicate both the retail price and the wholesale price in your inventory list. Do not use “net price” (see #4, discount, below) or “artist price” (the wholesale price). Shipping reports will help you and the gallery keep an overview of what you`ve delivered, what`s been sold, and what needs to be returned. It is useful for you and the gallery to make available a copy of the shipment report to ensure that all your work is invoiced (either sold or returned). 2. Inventory Delivery.
Artists should send two copies of the inventory list each time works are sent to the gallery. The gallery signs a copy after receipt of the work and sends it back to the artist. This makes it possible to verify that the mentioned work is now in his possession and is the responsibility of the gallery, as indicated in the contract. 3. Prices and terms of payment. The gallery only sells the artworks at the sale price indicated in the inventory list. The gallery and the artist agree that the order from the gallery will be _____ percentage of the sale price of the artwork. Both parties must agree in advance to any change in the sale price or the gallery`s commission.
14. Copyright. The gallery takes all necessary measures to ensure that the artist`s copyright in the transferred works of art is protected in the artist`s name. 15. Security Interest. This is a legal clause that protects the artist and states that the artist owns the delivered work until it is fully paid. Few states have laws that protect an artist`s work on air from the gallery`s creditors. This is an important reason why artists must use contracts with a security interest rate clause. The rights of the creditor are also cut off when a sign is written on the gallery indicating that the work sold is on the air, but such signage is rarely used.
If the restoration is proposed or followed by the gallery, the artist has a right of veto over the choice of the restorer. The artist is responsible for all necessary repairs of works of art due to defective treatment of the artist. Some artists may initially be reluctant to create a formal consignment contract – more paperwork and fear of unpleasant negotiations. However, consignment contracts are a professional practice that you should always use when you have relationships with galleries and have your art on the air. 7. Fiduciary Responsibilities. This clause concerns the ownership of the work of art and the gallery`s tax liability to the artist….