Although consignment and commission agreements are commonplace in the art industry, there are still terms, from both sides of the agreement, that should be of primary concern when entering such a potentially profitable, but also risky, business endeavor. In addition to the basic percentage paid in a commission agreement, the situations in which commissions are and are not provided must be clearly, unambiguously described to ensure all parties understand the agreement, get what they bargained for, and do not need to sue the other party later.
Consignment agreements are generally risky for both the creator and buyer, but they can be very rewarding and are one of the amazing ways to develop truly unique, creative, and/or personal art. Thus, having a contract to account for as many of the possible problems is a safe and smart way to go about this business arrangement. There are facets of these agreements that we will handle, such as who retains the moral rights, to ensure all parties are content.
Contact us now for help with your consignment or commission agreement.