Artwork sale agreement, Salt Ledger No. 4

Artwork sale agreement with provenance and a resale royalty note

When a painting leaves a studio it takes its provenance with it, and whatever is not written down on the first sale is gone by the third. This agreement catalogues the work, keeps the copyright with the artist in plain words, and explains where the Australian resale royalty starts, which is not on this sale.

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Artwork sale agreement · Salt Ledger No. 4 · Imogen Hale · 2027Page 1 of 3
Artwork sale agreement · Salt Ledger No. 4 · Imogen Hale · 2027Page 2 of 3
Artwork sale agreement · Salt Ledger No. 4 · Imogen Hale · 2027Page 3 of 3
Artwork sale agreement

This agreement is made on 3 March 2027 between Imogen Hale of 21 Ferryman Road, Hobart TAS 7000, called the artist, and Rowan Castellano of 6 Ashgrove Terrace, Battery Point TAS 7004, called the buyer, for the sale of one painting direct from the studio. No gallery, agent or auction house is involved in this sale.

$9,800
Price
$2,000
Deposit
2026
Year
20 Mar 2027
Delivery
1. The work
Detail
As catalogued by the artist
Title
Salt Ledger No. 4
Year
2026
Medium
Oil and pigmented beeswax on Tasmanian oak panel
Dimensions
1,220 by 910 millimetres, unframed, 38 millimetre cradle
Signature
Signed and dated lower right, signed again on the reverse of the cradle
Catalogue number
IH-2026-041, the fourth of a series of six
Condition
New from the studio, varnished 14 February 2027, no restoration
1.1
Provenance starts here
The artist made the work and has owned it since. It has not been sold, gifted, consigned or exhibited except in the studio exhibition of November 2026, where it was shown and not for sale. The artist gives the buyer a signed certificate of authenticity carrying the catalogue number, a studio photograph of the finished work, and a written note on the materials for the benefit of any future conservator.
2. Price, payment and title
2.1
Deposit, balance and when ownership passes
The price is $9,800. The artist is not registered for goods and services tax, so no tax is added to the price. A deposit of $2,000 is paid on signing and the balance of $7,800 before the work leaves the studio. Ownership of the physical work passes to the buyer when the balance is received. Risk passes on delivery under clause 4.
2.1
Deposit, balance and when ownership passes
The price is $9,800. The artist is not registered for goods and services tax, so no tax is added to the price. A deposit of $2,000 is paid on signing and the balance of $7,800 before the work leaves the studio. Ownership of the physical work passes to the buyer when the balance is received. Risk passes on delivery under clause 4.
2.1
Deposit, balance and when ownership passes
The price is $9,800. The artist is not registered for goods and services tax, so no tax is added to the price. A deposit of $2,000 is paid on signing and the balance of $7,800 before the work leaves the studio. Ownership of the physical work passes to the buyer when the balance is received. Risk passes on delivery under clause 4.
3. Copyright, moral rights and resale royalty
3.1
The buyer buys the painting, not the copyright
Copyright in the work stays with the artist. Buying the painting does not transfer copyright, which under the Copyright Act 1968 can only pass by a written assignment signed by the copyright owner, and no assignment is made here. The buyer may photograph the work for its own records and insurance, and may show it privately, but does not reproduce it for sale, publish it commercially, or make prints, merchandise or digital editions from it without the written permission of the artist.
3.2
Moral rights, and how the work is credited
The artist keeps the moral rights the Copyright Act gives, which include being named as the artist and not having the work treated in a way that damages the reputation of the artist. Where the buyer lends the work to an exhibition, the label reads Imogen Hale, Salt Ledger No. 4, 2026, oil and pigmented beeswax on Tasmanian oak. The work is not cropped, altered, overpainted, cut down or reframed in a way that changes it.
A resale royalty may apply the next time the work is sold
Under the Australian resale royalty scheme, a royalty of 5 percent is payable on an eligible commercial resale of an artwork for $1,000 or more, and it goes to the artist. This sale is the first transfer of ownership from the artist, so no royalty is payable on it. A later sale through a dealer, a gallery or an auction house may be an eligible resale, and the seller and the art market professional involved are the ones who report and pay it.
4. Delivery, insurance and care
4.1
How the work travels and who carries the risk
The artist packs the work in a purpose built travel frame and arranges delivery by a fine art carrier to the Battery Point address on 20 March 2027, at the cost of the buyer, quoted at $340. The artist insures the work in transit for the full price to the moment it is unpacked and signed for, and the buyer insures it from that moment under its own policy. The parties inspect the work together on delivery and sign the condition note.
4.2
Living with a wax surface
The surface contains pigmented beeswax and softens above about 40 degrees. The work is hung out of direct sunlight, away from a heat source and a downlight, on an internal wall, and is dusted with a soft dry brush rather than a cloth. The artist will advise on cleaning or repair at any time at no charge and will carry out a repair at cost where that is the right course.
5. General
5.1
Exhibition loan, resale notice and the whole agreement
The artist may ask to borrow the work for a public exhibition, with at least three months notice, and pays the cost of transport and insurance both ways. The buyer tells the artist within 30 days if the work is sold or gifted, and gives the name of the new owner where the new owner agrees, so the record of the work stays complete. Notices are given by email. A change takes effect only when both parties agree it in writing. This agreement is governed by the law of Tasmania and each party keeps a signed copy.
Imogen Hale, artist
Name
:
Date
:
Rowan Castellano, buyer
Name
:
Date
:

Section by section

What each section is for, so you can keep the ones you need and drop the rest.

Parties and key facts
The artist, the collector, a note that no gallery is involved, and the price, deposit, year and delivery date.
1. The work
The catalogue table and the provenance clause with the certificate of authenticity and materials note.
2. Price, payment and title
The deposit and balance, no GST because the artist is not registered, and when ownership passes.
3. Copyright, moral rights and resale royalty
Copyright kept by the artist, the moral rights and label wording, and the resale royalty callout.
4. Delivery, insurance and care
Packing and the fine art carrier, who insures in transit, and how to live with a wax surface.
5. General
Exhibition loan on three months notice, resale notice to keep the record complete, and governing law.
Signatures
A block for the artist and one for the buyer.

Clauses in this document

How to adapt this agreement

For a sale through a gallery, this becomes two documents: a consignment agreement between the artist and the gallery setting the commission and the payment date, and a sale agreement or invoice between the gallery and the collector, and the resale royalty position changes because an art market professional is involved. For a commissioned work, add a schedule with the brief, the approval points, what happens if the artist and the client disagree at the sketch stage, and whether the deposit is refundable, because a commission fails at approval rather than at delivery. For an edition rather than a unique work, add the edition size, the number of this impression, whether artist proofs exist and what happens to the plate or file, since an edition without those four facts is unsellable a second time.

Which law the terms follow

Copyright in an artwork is governed by the Copyright Act 1968 and stays with the artist unless assigned in writing, which is why clause 3.1 is a statement of the default rather than a negotiated term. Moral rights under the same Act cannot be assigned and continue regardless of ownership. The resale royalty right comes from the Resale Royalty Right for Visual Artists Act 2009, which sets a rate of 5 percent on an eligible commercial resale of $1,000 or more and applies from the second transfer of ownership after the scheme commenced, with a collecting society appointed to receive reports and pay artists. GST applies only where the artist is registered. The agreement is governed by the law of Tasmania.

What makes this document work

The catalogue table is the provenance record

Title, year, medium, dimensions, where it is signed, the catalogue number and the condition on the day it left the studio. Clause 1.1 adds that the work has never been sold, gifted or consigned, and lists the one exhibition it appeared in, which is the start of a chain a future conservator or valuer will follow.

Copyright is explained rather than assumed

Clause 3.1 says the buyer buys the painting and not the copyright, notes that copyright can only pass by a signed written assignment and that none is made here, then says what the buyer may do: photograph for records and insurance, show it privately, but not reproduce it commercially or make prints from it.

The royalty callout says why it does not apply here

Five percent on an eligible commercial resale of $1,000 or more, payable to the artist. This sale is the first transfer of ownership from the artist, so no royalty arises on it, and the callout explains that a later sale through a dealer or auction house may be eligible and who reports it.

Questions people ask

What should an artwork sale agreement include?

The work catalogued in enough detail to identify it, its provenance, the price and when ownership passes, who holds the copyright, moral rights and how the work is credited, delivery and who insures it in transit, care instructions, and whether the artist may borrow it back for an exhibition.

Does buying a painting include the copyright?

No. Under the Copyright Act 1968 copyright stays with the artist unless it is assigned by a document signed by the copyright owner. Clause 3.1 states that no assignment is made, so the buyer owns the object and the artist keeps the right to reproduce the image.

What is the Australian resale royalty scheme?

A scheme under which the artist receives 5 percent of the sale price when an eligible artwork is resold commercially for $1,000 or more. It applies from the second transfer of ownership after the scheme commenced, and royalties are collected and paid by the appointed collecting society.

Does a resale royalty apply when an artist sells direct?

Not on that first sale. The callout in section 3 explains that this sale is the first transfer of ownership from the artist, so no royalty arises. A later sale through a dealer, gallery or auction house may be an eligible resale, and the seller and the art market professional report and pay it.

What are moral rights?

Rights the artist keeps regardless of who owns the work, including the right to be named as the artist, the right not to have work falsely attributed, and the right not to have the work treated in a way that harms the artist reputation. Clause 3.2 sets the exhibition label wording and rules out cropping or overpainting.

Who insures a painting in transit?

The artist, to the moment it is unpacked and signed for, under clause 4.1. The buyer insures it from that moment under its own policy. The parties also inspect the work together on delivery and sign a condition note, which is what settles any later argument about a mark.

Is GST payable on an artwork bought from an artist?

Only where the artist is registered for GST. Clause 2.1 records that this artist is not registered, so no tax is added to the $9,800 price. An artist whose turnover passes the registration threshold has to register, and then the price on the agreement should say whether it includes GST.

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Sources

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