Monday, 13 October 2008

Consignment Agreements

Consignment (Sale or Return) agreements are to protect both Artist and Gallery, and ensure each understands the other’s expectations.

The agreement should relate to each item and include at least the following information:
  • Artist’s name and address
  • Gallery’s name and address
  • Name and signature of the owner/manager of the gallery
  • Title, medium, dimensions of the work(s), edition number
  • Retail price
  • Artist’s price
  • The commission taken from the retail price

Additional information that is advisable to include:

  • Each work is to be offered at the stated retail price. Any discounts shall be from the retail price, not the artist price.
  • Each work sold should have a bill of sale copied to the Artist.
  • The Gallery shall send to the Artist the stated retail price of each work less the stated commission, within a reasonable time after sale, and not less than 1 month after the sale. In the case of exhibitions the payment should be made not less than 1 month after the close of the exhibition.
  • If a work is lost, damaged or destroyed during the period of the agreement, the Gallery must notify the Artist immediately and pay him/her the stated retail price, less the stated commission.
  • Insurance of the work –a statement of when the Gallery’s insurance takes effect. The Gallery normally provides insurance upon receipt of the work(s) and signs a document to indicate safe receipt of the item.
  • The Artist shall retain all rights in and title to the works until sale, at which point the title shall pass directly to the purchaser whose name and address the Gallery shall give to the Artist on written request.

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