Terms of Agreement for Sale and Transfer of a Work of Art

Echelon Art Gallery
Oil Paintings, Prints, Drawings and Water Colors

 

Terms of Agreement for Sale and Transfer of a Work of Art

 

 


AGREEMENT for Sale and Transfer of a Work of Art
entered into on the______ day of ____________, 20__, between Drew Kopf, hereinafter referred to as “the Artist”, whose office is located at the offices of Geoffrey Drew Marketing, Inc. 3000 Hempstead Turnpike, Suite 305, Levittown, NY 11756, and [collector’s name here], hereinafter referred to as “the Collector”, located at [collector’s address here] with respect to the sale of a particular work of art, 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 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:
Title: ____________________________________________________
Medium: _______________________________
Size: ____________________________
Framing or Mounting: ______________________________________
Year of Creation: ______________
Signed by Artist: Yes No
If the Work is part of a limited edition, indicate:
(a) the method of production ____________________;
(b) the size of the edition_________;
(c) how many multiples are signed_________;
(d) how many are unsigned ____________;
(e) how many are numbered _______;
(f) how many are unnumbered _______;
(g) how many proofs exist _______;
(h) the quantity of any prior editions______; and
(i) whether the master image has been cancelled or destroyed: Yes or 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 herein.

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 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 the Collector.

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 (Drew Kopf) (Year 20__).

8. Re-sale. The Artist reserves the right to limit re-sale of any Work. No Work shall be re-sold without the express, written consent of the Artist.

9. 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 New York.


IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the date first set forth above.


X ___________________________________ Date: ___/ ___ / ___
Authorized Contact for the Collector: [ _______________], Title __________

X ___________________________________ Date: ___/ ___ / ___
Authorized Contact for Artist: Drew Kopf. Artist

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Geoffrey Drew Marketing, Inc.
3000 Hempstead Turnpike, Suite 305
Levittown, Long Island, NY 11756 USA


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