Art Purchase Agreement Sample Contracts

aRT purchase agreement By and between: MASTERWORKS GALLERY, LLC and MASTERWORKS 001, LLC
Art Purchase Agreement • January 30th, 2019 • Masterworks 001, LLC • Retail-retail stores, nec • Delaware

This Art Purchase Agreement is entered into as of the date first set forth above (the “Effective Date”) by and between Masterworks Gallery, LLC, a Delaware limited liability company (“Seller”) and Masterworks 001, LLC, a Delaware limited liability company (“Buyer”). Each of Buyer and Seller may be referred to herein as a “Party” and collectively as the “Parties.”

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CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • October 22nd, 2021 • Masterworks 075, LLC • Retail-retail stores, nec • New York

THIS PURCHASE AGREEMENT (“Agreement”) is made and entered into this 14th day of October, 2020 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Seller is engaged in the business of the purchase and sale of works of art. Seller is acting as agent on behalf of the sole legal and beneficial owner (“Owner”) of the work of art described on Exhibit B attached hereto and incorporated herein by this reference (the “Work”), and has the authority to sell the Work on behalf of Owner. Agent is acting as agent on behalf of Masterworks Cayman SPC, on behalf of its 075 Segregated Portfolio (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller, on behalf of Owner, has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contai

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • September 20th, 2021 • Masterworks 072, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 16th day of September, 2021 (the “Effective Date”), by and [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Seller is selling the Work (defined below) on behalf of the sole legal and beneficial owner (“Owner”) of the work of art described in the Invoice attached hereto as Exhibit A and incorporated herein by this reference (the “Work”), and Seller has the authority to sell the Work on behalf of Owner. Agent is acting as agent on behalf of Masterworks Cayman SPC, on behalf of its 072 Segregated Portfolio (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller, on behalf of Owner, has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises containe

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • October 6th, 2021 • Masterworks 081, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 29th day of September, 2021 (the “Effective Date”), by and between [***](“Owner”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Owner is the sole legal and beneficial owner of the work of art described in the invoice on Exhibit A attached hereto and incorporated herein by this reference (the “Work”), and has the authority to sell the Work. Agent is acting as agent on behalf of the 081 Segregated Portfolio of Masterworks Cayman, SPC (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Owner has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Owner, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, the parties agree as follows:

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • October 14th, 2021 • Masterworks 078, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 6th day of October, 2021 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Seller is selling the Work on behalf of the sole legal and absolute owner (“Owner”) of the work of art described in Exhibit A attached hereto and incorporated herein by this reference (the “Work”) and has the authority to sell the Work. Agent is acting as agent on behalf of Masterworks Cayman SPC, on behalf of its 078 Segregated Portfolio (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller, on behalf of the Owner, has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, the parties agree as follows:

Freeport HOLDINGS SERIES LLC Art OPTION Purchase Agreement
Art Purchase Agreement • December 14th, 2022 • Freeport Holdings Series LLC • New York

This Art Purchase Agreement (the “Agreement”) is entered into as of the date first set forth above (the “Effective Date”) by and between Freeport Holdings Series, LLC, a Delaware limited liability company (“Buyer”), Freeport Curation LLC (“Agent”) and [INSERT SELLER ENTITY] “Seller.” Each of Buyer and Seller may be referred to herein as a “Party” and collectively as the “Parties.”

ART PURCHASE AGREEMENT Contract Number PA00453
Art Purchase Agreement • September 30th, 2024 • Masterworks Vault 5, LLC • Retail-retail stores, nec

THIS ART PURCHASE AGREEMENT (“Purchase Agreement”) is made and entered into this 30th day of September, 2024 (the “Effective Date”), by and between Level & Co. Gallery, LLC, a New York limited liability company with an address at [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 225 Liberty Street, 29th Floor, New York, New York, 10281 (“Agent”). Seller is the sole legal and beneficial owner of the work of art described above (the “Work”), and has the authority to sell the Work. Agent is acting as agent on behalf of the Gallery Segregated Portfolio of Masterworks Cayman, SPC (“Buyer”), and has the exclusive authority to buy the Work on behalf of Buyer. Seller has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Purchase Agreement. In consideration of the mutual promises contained in this Purchase Agreement, the parties agree as foll

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • July 30th, 2021 • Masterworks 065, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 22nd day of July, 2021 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, with an address at 497 Broome Street, New York, New York 10013 (“Agent”). Seller is engaged in the business of the purchase and sale of works of art. Seller is selling the work on behalf of the sole legal and beneficial owner (“Owner”) of the work of art described on Exhibit A attached hereto and incorporated herein by this reference (the “Work”), and has the authority to sell the Work on behalf of Owner. Agent is acting as agent on behalf of the 065 Segregated Portfolio of Masterworks Cayman, SPC (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, the

FORM OF ART PURCHASE AGREEMENT Dated as of April , 2020
Art Purchase Agreement • April 6th, 2020 • Masterworks 010, LLC • New York

This Art Purchase Agreement is entered into as of the date first set forth above (the “Effective Date”) by and between Masterworks Gallery, LLC, a Delaware limited liability company (“Agent”), Masterworks 010, LLC, a Delaware limited liability company (“Buyer”) and The Pace Gallery LLC. a New York limited liability company (“Seller”). Each of Buyer, Seller and Seller may be referred to herein as a “Party” and collectively as the “Parties.”

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT Contract Number PA00221
Art Purchase Agreement • February 8th, 2023 • Masterworks 221, LLC • Retail-retail stores, nec

THIS ART PURCHASE AGREEMENT (“Purchase Agreement”) is made and entered into this 8th day of February, 2023 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 225 Liberty Street, 29th Floor, New York, New York, 10281 (“Agent”). Seller is acting on behalf of the sole legal and beneficial Owner (“Owner”) of the work of art described above (the “Work”), and has the authority to sell the Work on behalf of the Owner. Agent is acting as agent on behalf of the Gallery Segregated Portfolio of Masterworks Cayman, SPC (“Buyer”), and has the exclusive authority to buy the Work on behalf of Buyer. Seller, on behalf of Owner, has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Purchase Agreement. In consideration of the mutual promises contained in this Purchase Agreement, the parties agree as follows:

ART PURCHASE AGREEMENT
Art Purchase Agreement • July 25th, 2022 • Colorado

THIS ART PURCHASE AGREEMENT (the "Agreement") is made and entered into this 25th day of July, 2022 (the "Effective Date"), by and between the Town of Superior, a Colorado municipal corporation with an address of 124 East Coal Creek Drive, Superior, CO 80027 (the "Town"), and Scottie Burgess Studios, LTD, a limited liability company, with an address of 2448 Race Street, Denver, CO 80205 (the "Artist") (each a "Party" and collectively the "Parties").

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • August 30th, 2021 • Masterworks 059, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 19th day of August, 2021 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Seller is the sole legal and beneficial owner of the work of art described in Exhibit A attached hereto and incorporated herein by this reference (the “Work”), and has the authority to sell the Work. Agent is acting as agent on behalf of Masterworks Cayman SPC, on behalf of its 059 Segregated Portfolio (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, the parties agree as follows:

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • September 10th, 2021 • Masterworks 074, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 1st day of September, 2021 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Seller is acting on behalf of the sole legal and beneficial Owner (“Owner”) of the work of art described in the condition report on Exhibit A attached hereto and incorporated herein by this reference (the “Work”), and has the authority to sell the Work on behalf of the Owner. Agent is acting as agent on behalf of the 074 Segregated Portfolio of Masterworks Cayman, SPC (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller, on behalf of Owner, has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, th

ART PURCHASE AGREEMENT
Art Purchase Agreement • October 29th, 2021 • Masterworks 085, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 26th day of October, 2021 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 53 Beach Street, New York, New York 10075 (“Agent”). Seller is acting on behalf of the sole legal and beneficial Owner (“Owner”) of the work of art described in the condition report on Exhibit A attached hereto and incorporated herein by this reference (the “Work”), and has the authority to sell the Work on behalf of the Owner. Agent is acting as agent on behalf of the 085 Segregated Portfolio of Masterworks Cayman, SPC (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller, on behalf of Owner, has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, the

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • August 23rd, 2021 • Masterworks 066, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 19th day of August, 2021 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Seller is engaged in the business of the purchase and sale of works of art. Seller is selling the work on behalf of the sole legal and beneficial owner (“Owner”) of the work of art described on Exhibit A attached hereto and incorporated herein by this reference (the “Work”), and has the authority to sell the Work on behalf of Owner. Agent is acting as agent on behalf of the 066 Segregated Portfolio of Masterworks Cayman, SPC (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, the

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • October 6th, 2021 • Masterworks 079, LLC • Retail-retail stores, nec • New York

THIS PURCHASE AGREEMENT (“Agreement”) is made and entered into this 29th day of September, 2021 (the “Effective Date”), by and between [***], with an address at [***] (“Owner”), and Masterworks Gallery, LLC, with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Owner is acting on behalf of himself and is the sole legal and beneficial owner of the work of art described on Exhibit B attached hereto and incorporated herein by this reference (the “Work”). Agent is acting as agent on behalf of Masterworks Cayman SPC, on behalf of its 079 Segregated Portfolio (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Owner has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Owner on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, the parties agree as follows:

ART PURCHASE AGREEMENT
Art Purchase Agreement • November 30th, 2023

This Art Purchase Agreement (“Agreement”) is effective as of the date of the Mayor’s signature below and is between the City of Everett, a Washington municipal corporation (the “City”), and the person identified as the Artist in the Basic Provisions below (“Artist”). This Agreement includes the Basic Provisions and the attached General Provisions.

ART PURCHASE AGREEMENT
Art Purchase Agreement • December 12th, 2022 • Colorado

WHEREAS, the Town engaged Artist to create and to place an art installation on real property owned located within the Town;

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • August 4th, 2021 • Masterworks 064, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 30th day of July, 2021 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 53 Beach Street, New York, New York 10013 (“Agent”). Seller is the owner of the work of art described in Exhibit A attached hereto and incorporated herein by this reference (the “Work”). Seller is the only legal and beneficial owner of the Work. Seller is acting on behalf of itself and has the authority to sell the Work. Agent is acting as agent on behalf of Masterworks Cayman SPC, on behalf of its 064 Segregated Portfolio (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreement, the parties agree as fol

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND ART PURCHASE AGREEMENT
Art Purchase Agreement • July 14th, 2021 • Masterworks 060, LLC • Retail-retail stores, nec • New York

THIS ART PURCHASE AGREEMENT (“Agreement”) is made and entered into this 7th day of July, 2021 (the “Effective Date”), by and between [***] (“Seller”), and Masterworks Gallery, LLC, a Delaware limited liability company with an address at 497 Broome Street, New York, New York 10013 (“Agent”). Seller is selling the Work on behalf of the sole legal and beneficial owner (“Owner”) of the work of art described in the invoice (“Invoice”) attached hereto as Exhibit A and incorporated herein by this reference (the “Work”), and has the authority to sell the Work. Agent is acting as agent on behalf of Masterworks Cayman SPC, on behalf of its Gallery Segregated Portfolio (“Buyer”), and has the authority to buy the Work on behalf of Buyer. Seller, on behalf of the Owner, has agreed to sell the Work to Buyer, and Agent, on behalf of Buyer, has agreed to buy the Work from Seller, on the terms and conditions set forth in this Agreement. In consideration of the mutual promises contained in this Agreemen

ART PURCHASE AGREEMENT
Art Purchase Agreement • October 20th, 2022 • Colorado

THIS ART PURCHASE AGREEMENT (the "Agreement") is made and entered into this 24 day of October, 2022 (the "Effective Date"), by and between the Town of Superior, a Colorado municipal corporation with an address of 124 East Coal Creek Drive, Superior, CO 80027 (the "Town"), and China Cat Sunflower, LLC, a limited liability company with an address of 2616 Eudora Street, Denver, CO 80207 (the "Artist") (each a "Party" and collectively the "Parties").

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