4. The parties acknowledge that the artist made available to the purchaser photos of each object of the artist`s works belonging to the artist at the time of this agreement. The price at which the buyer proposes to sell each of these items should not be less than the price set on the back of this photo. The parties jointly determine the minimum selling price to be paid for the works of art to be created by Artist during the duration of this contract. Minimum prices can be changed from time to time in a way determined by the parties. 5. Upon the sale of one of the works of art covered by this agreement, the buyer is reimbursed to the buyer, based on the actual net proceeds, for the initial shipping costs advanced in connection with this item. In addition, and in compensation for the buyer`s performance in connection with the sale of a given work, the buyer has the right to pay the quarterly artist the balance of the net proceeds of the sale in question as well as the buyer`s commission for the realization of such a sale with the remaining percentages of that balance, net of the sums earned to the buyer under that agreement. Right now, most sales are made by artists or their agents without discussing these things, let alone getting along and writing them. If, at the time of the sale, nothing is agreed as to their respective rights and obligations, the law imposes certain obligations on the artist and the buyer — whether they like them or not: (this was called a «silent contract» in last month`s edition).
In order to avoid the unwanted imposition of the «tacit contract,» artists and purchasers should discuss and agree on their obligations to each other and to the work at the time of sale, implement in writing the terms of this agreement and sign them both. 3. During the period of the year, the buyer is responsible for exhibiting works by the artist in the cities of `O` and in other places that the parties jointly designate. The buyer is responsible for all expenses of these exhibitions, including advertising and catalogue and insurance costs, and bears the full cost of storing all the artist`s purchase items delivered to the buyer in accordance with this agreement. Below, the entire agreement on the sale of sculptures by ________Zeichnungen and graphics created by («Artist») ( «Artist»). Directors, successors and receivers of the assignments of the parties. 1. For a period of years beginning on the date of this Agreement, the buyer has the exclusive right to put up for sale in any part of the world and to authorize other works of art created by Artist and in the possession of Artist. The artist must first deliver each of these works to the place designated by the buyer.
In last month`s edition, it was proposed that one method to gently introduce the artist and buyer into the idea of a written agreement is to ensure that all artists begin to use a sales bulletin that simply recorded the date and place of sale, described the parts and the work, and set the price and payment terms. (Artists and their agents could use a simple co2 copy book for the purchaser`s use and keep the copy; Buyers who do not stand ready to sign the invoice could receive the original signed by the artist or agent alone.) The Sales Bulletin will act not only as a receipt for money, but also as documentary proof of the sale.