Conditions of Consignment
All works of art consigned to Angela Tandori Fine Art for the purpose of exhibition or sale on consignment are to be documented. Both the consignor and Angela Tandori Fine Art are required to maintain a copy of such documentation.
2. Vendor’s Authorisation
In consideration of Angela Tandori Fine Art accepting the documented works of art, the person or agent specified as "the Vendor" agrees to the conditions contained herein.
The Vendor warrants to Angela Tandori Fine Art and to the Buyer that he is and will be able to transfer good and marketable title to the goods free from all liens and encumbrances.
4. Net Price or Reserve Price
4.1 A net or reserve price must be in writing and all prices must be placed at the signing of the consignment agreement. Angela Tandori Fine Art reserves the right to offer appraisal on works of art.
4.2 The Vendor may increase the price after the goods have been accepted for sale but a charge of 10% of the new net price will be charged if the property fails to sell within the consignment period.
4.3 The Vendor will be charged a withdrawal fee of $55 per item if withdrawn from consignment before the end of the mutually agreed consignment period.
5. Assumption of risk
5.1 Reasonable professional care shall be taken in the handling of works of art while in our keeping at Angela Tandori Fine Art. Angela Tandori Fine Art will be responsible for insurance and delivery of sold works to buyers. It is the responsibility of the Vendor to insure works of arts outside their premises, and for the duration of the exhibition and sale or return of works.
5.2 Angela Tandori Fine Art shall in no way be held responsible for loss, theft, damage or destruction. In such an event Angela Tandori Fine Art will notify the Vendor immediately.
5.3 Angela Tandori Fine Art accepts no responsibility for maintaining the works of art. In the event of any deterioration to works of arts including frames all effort will be made to contact the Vendor. The Vendor shall be responsible for the cost of any such repairs.
6. Consignment period
The period of consignment for works of art with Angela Tandori Fine Art for the purpose of sale on consignment shall be twelve months unless an early return of some or all of the said works of art is requested and mutually agreed by the Vendor and Angela Tandori Fine Art.
Works of arts will be returned at the expense of the Vendor after the period of consignment. Works of art will be delivered to Angela Tandori Fine Art at the expense of the Vendor.
The Vendor agrees that the works of art may be reproduced for the purposes of publicity, archives and sales.
9. Third party consignment
Angela Tandori Fine Art may send works of art out on consignment for the purposes of purchase of the works of art. The third party consignor shall assume responsibility for the insurance, transportation and good care of the works of art. Angela Tandori Fine Art will document in writing the conditions under which the third party consignor takes temporary possession of the works of art. Angela Tandori Fine Art accepts no responsibility for any loss or damage for works of art in the third party consignor’s possession.
10. Payment to Vendor
10.1 If the full Purchase Price has been received in cleared funds by Angela Tandori Fine Art then Angela Tandori Fine Art shall pay the Sale Proceeds to the Vendor not earlier than 28 days after the date of the Sale. Unless an alternative method payment shall have been agreed in writing with the Vendor, payment shall be made by sending to the Vendor a cheque by post at the Vendor’s risk.
10.2 Bank Transfer payments to the Vendor will only be accepted for account details communicated in writing.
10.3 If a buyer does not make payment within the terms of the sale, Angela Tandori Fine Art may take any steps it deems necessary or appropriate to recover payment. Angela Tandori Fine Art is not obliged to:
a.) Pay any amount to the Vendor until Angela Tandori Fine Art receives payment in full; or
b.) Undertake legal proceedings on the Vendor’s behalf.
11. Rescission of the Sale
11.1 If Angela Tandori Fine Art rescinds a Sale because the work of art is proved to its reasonable satisfaction to be a forgery and Angela Tandori Fine Art has accounted to the Vendor for the Sale Proceeds, the Vendor must immediately refund the Sale Proceeds to Angela Tandori Fine Art, which will then refund the Purchase Price to the Buyer and make the work of art available to the Vendor for collection.
11.2 Any guarantees, warranties or representations made (express or implied) by Angela Tandori Fine Art in relation to the nature and condition of any works of art are made on behalf of the Vendor. To the fullest extent permitted by law, Angela Tandori Fine Art disclaims all liability for any misrepresentations, errors or omissions, whether verbal or in writing, in the catalogue or any supplemental material. All such information is either provided by the Vendor or represents the specialist opinions of Angela Tandori Fine Art employees and cannot be relied upon as statements of fact.
11.3 Angela Tandori Fine Art may withdraw any work of art without incurring liability if it reasonably believes there is doubt;
a.) As to the work of art’s attribution,
b.) Provenance or
c.) Authenticity or
d.) Where Angela Tandori Fine Art considers there is reasonable doubt as to the accuracy of representations or warranties made by the Vendor.
11.4 Angela Tandori Fine Art may also withdraw the work of art in the event of serious breach of this agreement by the Vendor or in the event that Angela Tandori Fine Art considers that the sale may expose Angela Tandori Fine Art to legal claims or damage to reputation.
11.5 The Vendor gives Angela Tandori Fine Art the right to remove any property from any frame, holder, case or covering to examine the property.
12. Resale Royalty
12.1 The Resale Royalty scheme took effect on the 9th of June 2010. The royalty will apply to works by living artists and lasts for 70 years after death. Artworks purchased or sold after the 8th of June 2010 for more than $1,000 (GST inclusive)- for the second time and onwards - may be subject to a resale royalty of 5%. Resale Royalties must be reported within 90 days of the sale. It is the responsibility of the seller to pay any resale royalties owing. For more information see www.copyright.com.au.
12.2. The Seller:
(a) acknowledges that they understand their legal obligations under the Resale Royalty for Visual Artists Act 2009 (the Act);
(b) undertakes to comply with all requirements of the Act, including by providing its agent, Angela Tandori Fine Art, with accurate information sufficient for compliance with sections 28 and 29 of the Act;
(c) undertakes to indemnify Angela Tandori Fine Art for any loss incurred by the dealership as a result of the Seller’s failure to comply with any of the Seller’s legal obligations under the Act; and
(d) acknowledges that if they fail to comply with any of their legal obligations under the Act, Angela Tandori Fine Art may provide the Seller’s name and contact details to Copyright Agency Limited.
12.3 Under the Resale Royalty Right for Visual Artists Act 2009, auction houses and galleries are required to report resales to Copyright Agency, the collecting society for the Scheme. Copyright Agency then determines eligibility, collects the royalty, and pays it to the artist or other right holder/s.
13. Governing law and jurisdiction
The respective rights and obligations of the parties are governed and interpreted by the law of the State of Victoria.