How does a gallery consignment agreement work?

A gallery consignment agreement is a contract between an artist and a gallery. The agreement outlines the terms and conditions for displaying and selling artwork. Generally, the agreement stipulates that the artist will give the gallery their artwork to be displayed in the gallery. The artist often maintains ownership of the artwork, in that case the gallery is simply acting as a sales agent for the artist. The gallery is then responsible for promoting and attempting to sell the artwork, with the intent of making a commission on the sale. The gallery consignment agreement also outlines the terms of the split of the sale price between the artist and the gallery. This split is usually a predetermined percentage. The artist will receive their share of the sale price immediately after a sale takes place, typically within 30 days. The gallery’s portion of the sale price is held until the artwork is paid off in full by the buyer. Additionally, the agreement will specify other conditions, such as if the artist agrees to a reduced commission, if a work is to be returned if unsold, and who is responsible for artwork return shipping. In Mississippi, the gallery consignment agreement is governed by contract and is subject to the state’s laws, such as the Mississippi Uniform Commercial Code. This means that an agreement must be legally valid and both parties must agree to the conditions before entering into a contract. A contract is enforceable in a court of law if a dispute were to arise. Additionally, an artist should consult with an attorney if they have any questions about the consignment agreement.

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