Art Dealer on Consignment
Whenever a consignee accepts a work of art to sell or to exhibit for sale to the public for a commission, fee or other compensation, there must be a written contract or agreement between the consignor (the artist) and consignee (the seller or exhibitor). The contract must include:
That the proceeds of the sale of the work shall be delivered to the consignor at a schedule agreed upon by both parties,
That the consignee shall be responsible for the stated value of the artwork in the event of loss or damage while it is in the possession of the consignee,
That the work of art shall only be sold by the consignee for an amount at least equal to the amount agreed upon by the consignor in writing,
That the artwork may be used or displayed by the consignee or others only with prior written consent of the consignor and only if the artist is acknowledged in such use or display.
Relevant statute: CGS Title 42, Chapter 737a