Contracts checklists
5 Sale of work
- What will be the agreed sales price for each of the works held on consignment?
- How much commission will the gallery/dealer charge? Note: Commission is usually expressed as a percentage of the sales price net of VAT. Commission rates can vary but may be as much as 60% of the sale price.
- Will the amount of sales commission charged by the gallery/dealer vary for studio sales? Note: Studio sales are sales of work that have been arranged privately between a buyer and the artist. gallery/dealers will usually expect to be paid a commission on these sales, but at a lower rate than charged for gallery sales.
It is sometimes possible to negotiate that commission is only payable when the buyer is introduced by the gallery/dealer, or that the artist may sell a stated value or number of works privately each year without paying commission to the gallery/dealer.
- Will the amount of sales commission charged by the gallery/dealer vary for work in different media?
- Will the amount of sales commission charged by the gallery/dealer vary for commissioned works? Note: For commissioned new work the gallery/dealer's sales commission will usually be based on the commission fee after deducting expenses and materials costs.
- How much discount can the gallery/dealer offer to museums or collectors?
- Will the artist receive a share of any sales from catalogues/postcards and if so how much? Note: The share of the proceeds that the artist receives may vary depending on whether sales of catalogues are made during or after an exhibition.
- Will the artist be offered an advance on future sales? Note: This is only usually offered by some of the more established galleries and takes the form of an advance against future sales or else as a guarantee of minimum sales over an agreed period.
- When will the artist be paid for any sales made by the gallery/dealer? Note: The artist will usually be paid within a short period (often 30 days) after the sale is made and the sale price received by the gallery/dealer.
- Will the artist receive a regular statement showing what sales have been made and how the commission has been calculated?
