5. Upon sale of any of the works of art covered by this contract, the actual net proceeds of the sale shall be reimbursed to the buyer for the initial shipping costs relating to this article. In addition to and as compensation for the services of the buyer when selling a given work, the buyer has the right to obtain _____ % of the balance of the net proceeds of the sale concerned, as and for the commission of the buyer for the execution of such a sale, with the remaining percentage of this balance, less all amounts due to the buyer under this agreement, to remember. to be paid quarterly to the artist. Consignment art sales are in principle an agreement between an artist and a merchant in which the dealer sells pieces on behalf of the artist. Both parties conclude a contract setting out the conditions of sale, marketing and selling costs related to art. As a rule, both parties agree on a minimum selling price, and the seller retains a percentage of the profit as soon as the coin is sold. The seller takes care of all aspects of the exhibition, marketing and sale of the artwork. This type of sales contract may apply to works of art presented in art exhibitions and events as well as in stationary and online art galleries. Right now, most sales are made by artists or their agents without discussing these things, let alone to get along and write them down.
If, at the time of sale, nothing is agreed on their respective rights and obligations, the law imposes certain obligations on the artist and the buyer, whether they like it or not: (this was called «silent contract» in last month`s edition). In order to avoid the unwanted imposition of the «silent contract», artists and buyers should discuss and agree on their obligations to each other and to the work at the time of sale, set out in writing the terms of this agreement and sign both. Another type of art purchase contract is an auction partnership. In such cases, the artist`s works are professionally evaluated by art auctioneers who then make an offer to purchase the art on the basis of an estimated minimum value. The artist and the auctioneer enter into an agreement that makes available to the artist a percentage of the profits earned, beyond what has already been paid to him – at the time of the sale of the piece. In some cases, seller fees may be incurred. Selling fees are a percentage of the final sale price of the artwork that the auctioneer must pay to the auction house where the piece is sold. This royalty is usually shared by the artist and his auction partner.
Many passionate artists prefer to spend more time creating art than the logistics of the sale. In such cases, they work with art sellers to take care of all aspects of distribution and marketing of their craft. In Contract Art Sales Business, there are different types of partnerships. Some refer to individual pieces, while others include a full representation of the artist and his entire collection. 3. During the period of ________ the buyer must organize exhibitions of the artist`s works in cities _______ and other places jointly determined by the parties. Buyer is responsible for all costs of such exhibitions, including advertising, catalog and insurance costs, and bears the full cost of storing all artist`s pieces delivered to Buyer in accordance with this Agreement. .