Art Purchase Agreement
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Description
An art consignment agreement is a contract between an art gallery and an artist where the art gallery will sell the artist's art and split any profits from sales. These agreements lay out the terms and conditions of the relationship and need to be well-drafted to protect the interest of both parties.
Art consignment agreements will detail terms about: How the art is cared for; How the art will be priced; Description of the art being provided to the gallery; Percentage of sales that goes to each party; Timelines related to sales; Marketing efforts by the art gallery
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