Payment to the artist. The gallery must pay the artist the price paid for each work sold, less the gallery’s commission, following sale of the work. - The gallery must make any payment within 30 calendar days after the end of the month of the exhibition by bank deposit or any other method agreed by the artist in writing. - The artist must provide current bank details to the gallery for deposits and any changes to business information such as address, phone number, ABN and / or GST registration status of the artist. The gallery will handle all administration and provide the artist with a detailed sales list at the close of the exhibition. Artworks that have been exhibited at Umbrella which are sold within 12 months of exhibition are also subject to a 40% commission to Umbrella on the retail price. This encourages Umbrella to promote the artist’s work further, to potentially propose them into collections, and helps Umbrella recover some costs of marketing. This is not applicable if the same work is being shown in another gallery.
Payment to the artist. Dealer and Artist agree that payment to the Artist will be equivalent to the wholesale amount determined by the Artist listed on the Consignment Inventory (“Wholesale Price”). Dealer may elect to purchase Artwork(s) at the consigned Wholesale Price at any time. Dealer will determine the retail price. Artwork(s) shall not be sold by Dealer at a price that is less than the Artist’s consigned Wholesale Price except by express permission of the Artist. Payment of monies due to Artist under this agreement shall be paid within thirty(30) days from receipt of full payment by the Dealer from the third-party purchaser. Artist agrees that Dealer may, at its discretion, permit a third party purchaser to return Artwork(s) to Dealer within seven (7) days in exchange for a credit or refund in the amount of the actual sales price. If Artwork(s) is returned and Artist has received payment for said Artwork(s), Dealer will, as an option make appropriate deductions in future payments to the Artist or require Artist to return payment relating to the Artwork(s) to the Dealer.
