AGREEMENT made as of the ______ day of ____________, 20______, between ________________________________ (hereinafter referred to as the “Artist”), located at __________________________________________________________ _____________________________, and __________________________________________ (hereinafter referred to as the “Collector”), located at ____________________________________________________________________, with respect to the sale of an artwork (hereinafter referred to as the “Work”).
WHEREAS, the Artist has created the Work and has full right, title, and interest therein; and
WHEREAS, the Artist wishes to sell the Work; and
WHEREAS, the Collector has viewed the Work and wishes to purchase it;
NOW, THEREFORE, in consideration of the foregoing premises and the mutual obligations, covenants, and conditions hereinafter set forth, and other valuable considerations, the parties hereto agree as follows:
1. Description of Work. The Artist describes the Work as follows:
Framing or Mounting: _________________________________________
Year of Creation: ____________________________________________
Signed by Artist: _Yes _No
If the Work is part of a limited edition, indicate the method of production ____________________; the size of the edition_________; how many multiples are signed_________; how many are unsigned____________; how many are numbered_______; how many are unnumbered_______; how many proofs exist_______; the quantity of any prior editions______; and whether the master image has been canceled or destroyed o yes o no.
2. Sale. The Artist hereby agrees to sell the Work to the Collector. Title shall pass to the Collector at such time as full payment is received by the Artist pursuant to Paragraph 4 hereof.
3. Price. The Collector agrees to purchase the Work for the agreed upon price of $________________, and shall also pay any applicable sales or transfer taxes.
4. Payment. Payment shall be made in full upon the signing of this Agreement.
5. Delivery. The _Artist _Collector shall arrange for delivery to the following location: _______________________________ _________________________________________ no later than __________________, 20______. The expenses of delivery (including, but not limited to, insurance and transportation) shall be paid by _______________________.
6. Risk of Loss and Insurance. The risk of loss or damage to the Work and the provision of any insurance to cover such loss or damage shall be the responsibility of the Collector from the time of.
7. Copyright and Reproduction. The Artist reserves all reproduction rights, including the right to claim statutory copyright, in the Work. The Work may not be photographed, sketched, painted, or reproduced in any manner whatsoever without the express, written consent of the Artist. All approved reproductions shall bear the following copyright notice: © by (Artist’s name) (Year_____).
8. Nondestruction. The Collector shall not destroy the Work or permit the Work to be destroyed without first offering to return ownership of the Work to the Artist or his or her successors in interest.
9. Integrity. The Collector shall not distort, mutilate, or otherwise alter the Work. In the even of such distortion, mutilation, or other alteration occurs, whether by action of the Collector or otherwise, the Artist shall, in addition to any other rights and remedies, have the right to have his or her name removed from the Work and no longer have it attributed to him or her as its creator.
10. Attribution. The Artist shall, at all times have the right to have his or her name appear with the Work and to be acknowledged as its creator.
11. Possession. The Collector agrees that the Artist shall have the right to possession of the Work for up to ___ days every ___ years for the purpose of exhibition of the Work to the public, at no expense to the Collector. The Artist shall give the Collector written notice at least ___ days prior the opening and provide satisfactory proof of insurance and pre paid transportation.
12. Restoration. In the event of damage to the work requiring restoration or repair, the Collector shall, if practicable, offer the Artist the first opportunity to restore or repair the Work and, in any case, shall consult with the Artist with respect to restoration or repairs.
13. Miscellany.This Agreement shall be binding upon the parties hereto, their heirs, successors, assigns, and personal representatives. This Agreement constitutes the entire understanding between the parties. Its terms can be modified only by an instrument in writing signed by both parties. A waiver of any breach of any of the provisions of this Agreement shall not be construed as a continuing waiver of other breaches of the same or other provisions hereof. This Agreement shall be governed by the laws of the State of _________________.
IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date first set forth above.