Young
Artists Gallery Sales Contract Agreement of Original Transfer of Work of
Art
Young
Artists Gallery Sales Contract Agreement of Original Transfer of Work of
Art
Purchaser:__________________________________________________ Address:____________________________________________________ City:_____________________________ State:_____ Zip code:_______
Artist:______________________________________________________ Address:___________________________________________________ City:_____________________________ State:_____ Zip code:_______
WHEREAS Artist has created a certain Work of Art (hereinafter, "the Work"): Title:_______________________________________________________________ Dimensions: __________________ Medium: ________________ Year: ________
WHEREAS the parties want the Artist to have certain rights in the future economics and integrity of the Work. The parties mutually agree as follows:
1. SALE. Artist hereby sells the Work to Purchaser at the agreed value of $_____________________ (_________________________________________________________ Dollars).
2. RETRANSFER. If Purchaser in any way whatsoever sells, gives, or trades the Work, if it is inherited from Purchaser, or if a third party pays compensation for its destruction, Purchaser (or the representative of his estate) must within thirty (30) days:
a. Get the owner to ratify this contract by signing a properly filled-out "Transfer Agreement and Record" (TAR); and
b. deliver the signed(TAR) to the Artist.
c. "Agreed value" to be filled in on each TAR shall be the actual sale price if the Work is sold for money or the fair market value at the time, if transferred any other way.
3. NON DELIVERY. If the TAR isn't delivered in thirty(30) days, Artist is entitled to collect fifteen(15)% of the Work's market value at the time of transfer or at the time Artist discovers the transfer.
4. NOTICE OF EXHIBITION. Before committing the Work to a show, Purchaser must give Artist notice of intent to do so, telling the Artist all the details of the show that Purchaser then knows.
5. PROVENANCE. Upon request, Artist will furnish Purchaser and his successors a written history and provenance of the Work, based on TAR's and Artist's best information as to shows.
6. ARTIST'S EXHIBITION. Artist may show the Work for up to sixty (60) days once every five (5) years at a nonprofit institution at no expense to Purchaser, upon written notice no later than one hundred twenty (120) days before opening and upon satisfactory proof of insurance and prepaid transportation.
7. ARTIST'S ACCESS. Artist may have access to photograph the Work at no expense to Purchaser and upon reasonable notice to Purchaser.
8. NON DESTRUCTION. Purchaser will not permit any intentional destruction, damage, or modification of the Work. Upon Purchaser's request, the Artist will supply Purchaser with a statement of Maintenance for the Work.
9. RESTORATION. If the Work is damaged, Purchaser will consult Artist before any restoration and must give Artist first opportunity to restore it, if practicable.
10. REPRODUCTION. Artist reserves all rights to reproduce the Work.
11. NOTICE. A notice, in the form below, must be permanently affixed to the Work, warning that ownership, etc., is subject to this contract. If, however a document represents the Work or is part of the Work, the Notice must instead be a permanent part of the document.
12. TRANSFEREES BOUND. If anyone becomes the owner of the Work with notice of this contract, that person shall be bound to all its terms as if he had signed a TAR when he acquired the Work.
13. EXPIRATION. This contract binds the parties, their heirs, and all their successors in interest, and all Purchaser's obligations are attached to the Work and go with ownership of the Work, all for the life of the Artist and Artist's surviving spouse plus twenty-one(21) years, except the obligations of Paragraphs 4,6,7, and 9 shall last only for Artist's lifetime.
14. ATTORNEY'S FEES. In the event of any proceeding to enforce any party of this contract, the aggrieved party shall be entitled to reasonable attorney's fees in addition to any available remedy.
15. MORAL RIGHT. The purchaser will not permit any use of the Artist's name or misuse of the work which would reflect discredit on his/her reputation as an artist, or which would violate the spirit of the Work.
16. ADDRESS NOTICE. All notices to the Artist shall be delivered to ___________________________________________________________________ and notices to the Purchaser to _______________________________________ __________________________________________. Either party shall notify the other party in case of change of address prior to such change.
PURCHASER'S SIGNATURE_________________________ DATE:_______________ ARTIST'S SIGNATURE_____________________________ DATE:______________
Title:_______________________________________________________________ Dimensions: __________________ Medium: ________________ Year: ________ Ownership of the above Work of Art has been transferred between the undersigned persons, and the new owner hereby expressly ratifies, assumes, and agrees to be bound by the terms of the Contract dated ________________ between: Purchaser:__________________________________________________ Address:____________________________________________________ City:_____________________________ State:_____ Zip code:_______
and
Artist:______________________________________________________ Address:___________________________________________________ City:_____________________________ State:_____ Zip code:_______
Agreed value (as defined in said contract) at the time of this transfer: $_____________________ (_________________________________________________________ Dollars).
Old Owner:__________________________________________________ Address:____________________________________________________ City:_____________________________ State:_____ Zip code:_______
New Owner:_________________________________________________ Address:___________________________________________________ City:_____________________________ State:_____ Zip code:_______
Date of this Transfer:_________________________________________
Specimen Notice (Affix to Work.)
Ownership, transfer, exhibition, and reproduction of this Work of Art are subject to a certain contract dated ____________________ between Artist:_________________________________________________ and
Purchaser:_________________________________________________
Artist has a copy.
Artist:______________________________________________________ Address:___________________________________________________ City:_____________________________ State:_____ Zip code:_______
Gallery:_____________________________________________________ Address:___________________________________________________ City:_____________________________ State:_____ Zip code:_______
Title of Work ________________________________________________________ Dimensions: __________________ Medium: ________________ Year: ________
Specific Materials Used in the Execution of Piece. (Brand name and type of paint, paper type, fiber content, specific metals, etc.)
Recommendations and Cautions Regarding Maintenance and Care of Work. (Cleaning, avoiding exposure to direct sun, exposure to dampness, fragility factor, instructions for assembling, etc.):
Gallery agrees to deliver a copy of this Statement to Purchaser of artwork named above.
Date:____________________________________
____________________________ __________________________ Artist's Signature Gallery's Signature
Date:________________________________
Artist:______________________________________________________ Address:___________________________________________________ City:_____________________________ State:_____ Zip code:_______
Phone (______)_________________
Purchaser:__________________________________________________ Address:___________________________________________________ City:_____________________________ State:_____ Zip code:_______
Phone (______)_________________
Description of Work: Title of Work ________________________________________________________ Dimensions: __________________ Medium: ________________ Year: ________
Purchase Price: $____________ (________________________ dollars)
Sales Tax: $____________ (________________________ dollars)
Shipping: $____________ (________________________ dollars)
Balance Due: $____________ (________________________ dollars)
Terms of Sale:
Artist's Signature ____________________________________________
Purchaser's Signature _________________________________________
E-mail any questions or comments to youngartists@youngartists.com
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