MASTER SELLER AGREEMENT

General

This Agreement (and the artnet Auctions Website Terms of Use and artnet Privacy Policy which are incorporated herein) (together “Terms”) sets forth the terms and conditions that govern the relationship between Artnet Worldwide Corporation (“artnet”) and you (“you” or “Seller”) with respect to process, terms and conditions under which you may offer or sell property such as art, artifacts, design objects and other similar items (collectively “Property”) on artnet’s websites (artnet.com, artnet.de, artnet.fr and all other related websites) (collectively, the “Site”). If you wish to access or use the Site to offer or sell Property through the Site (the “Services”), you must accept the terms and conditions of this Agreement, without change. PLEASE REVIEW THE FOLLOWING TERMS CAREFULLY AS WELL AS THE AUCTIONS WEBSITE TERMS OF USE AND THE PRIVACY POLICY. BY REGISTERING AND USING THE SERVICES OF THE SITE AS A SELLER, YOU AGREE TO BE BOUND BY ALL TERMS AND CONDITIONS OF THIS AGREEMENT AND ALL POLICIES AND GUIDELINES INCORPORATED BY REFERENCE HEREIN (including, without limitation, the Property Policy and Listing Guidelines annexed hereto). We reserve the right to modify or amend these Terms (including, but not limited to, the fees set forth below) without notice. Changes are effective when posted and your continued use of our Site or Services following the posting of changes to these Terms will mean you accept those changes.

The artnet Auctions portion of the Site provides a venue and mechanism for you to offer for sale via auction and/or the “Buy Now” option items of Property posted by you on the Site; and for bidders to bid for such items of Property in auctions conducted by you. As such, artnet is not a party to the actual transactions between buyers and sellers. Buyers are subject to the Master Buyer Agreement, but artnet has no control over individual transactions, and does not guarantee in any manner that a Buyer will complete any transaction.

Use of the artnet Auctions portion of the Site and the Services is limited to Buyers and Sellers that lawfully can enter into and form contracts under applicable law. Without limiting the generality of the foregoing, minors may not offer to sell or sell, or bid on or offer to purchase items of Property through the Site. Every Buyer and Seller who uses the Services hereby represents and warrants to artnet that he or she is not a minor, is at least over the age of eighteen (18) and may otherwise enter into and form binding contracts under applicable law. To register, you must provide your real name, address, phone number, e-mail address and valid credit card number, along with other information that may be required from time to time. Providing inaccurate registration information constitutes breach of this Agreement.

Use of the Site

You may list Property for sale at auction or via the “Buy Now” option on the Site during the term of this Agreement, subject to the following terms and conditions:

Fees

There are no membership fees to use the artnet Auctions portion of the Site and its Services. However, artnet will bill you and you will be responsible for, a per item listing fee (“Listing Fee”), which will be incurred when auction items are listed on the Site. In addition to the Listing Fee, artnet will be entitled to receive, and you will be responsible to pay artnet, a commission percentage fee (“Commission Fee”) payable on the selling price of all items of Property sold by you through the Site, excluding any tax, shipping or handling charges. Artnet reserves the right to charge storage fees for any Property left in artnet’s physical possession more than 30 days. If you withdraw a lot from an auction, whether or not it has gone live, artnet will be entitled to receive, and you will be responsible to pay artnet, a withdrawal fee (“Withdrawal Fee”) for the lot in the amount of 10% of the mid auction estimate of the lot. In the event the lot sells, and the sale is not consummated for any reason related to the Seller's Warranties, or artnet's Return Policy, the withdrawal fee is the amount of 20% of the mid auction estimate of the lot, or 20% of the sale price in the event of a Private Sale. All current fees applicable to auctions are listed under the “Fee Schedule” at Fees (the “Fee Schedule”). artnet reserves the right to change or amend all or any portion of the Fee Schedule, at any time and in its sole discretion.

You will pay all fees owed to artnet upon receipt of any invoice therefor. artnet reserves the right to deliver any invoice to you by: (i) posting an invoice to your account section of the Site; (ii) emailing an invoice to you at the address you have provided in your account settings; or (iii) mailing an invoice to the address provided by you at registration to the Site, as such may be updated from time to time by you in accordance with the procedures designated on the Site. Transmission of any invoice in this manner shall constitute receipt. Additionally, you agree not to interfere with the billing process or attempt to circumvent the fees in any way.

Unless otherwise stated, all fees are listed and shall be paid in US Dollars. You are responsible for all fees and taxes associated with posting to the Site and any sale of Property through the Site. artnet reserves the right to collect on accounts due by various means including but not limited to the use of collection agencies, legal counsel, and direct charge to payment methods that are on file. You will be responsible for all costs of collection (including reasonable attorneys’ fees) in the event you fail to pay any amounts due to artnet hereunder.

Seller’s Warranties

Seller warrants that (i) Seller has the right to offer the Property for sale through the Site; (ii) Seller has good and unencumbered title to any Property offered for sale by Seller through the Site (or acts as authorized agent for same) and good and unencumbered title and right to possession to the Property will pass to the Buyer of such Property at the time of sale; and (iii) if applicable, the Property has been lawfully imported into the jurisdiction in which it is currently located and that any applicable tariffs and taxes have been properly paid. Seller further warrants the accuracy of the posted information on all items of Property listed by Seller, or by artnet on Seller’s behalf, for bidding or purchase on the Site in accordance with the Property Policy and Listing Guidelines. artnet reserves the right to terminate any auction or sale of any item which it believes in its sole discretion is not authentic or where authenticity is substantially not as described in the listing. artnet will have no liability to the Seller or other person or entity (including any bidder) in any auction terminated by artnet.

Buy Now, After-Sales and Private Sales

Buy Now. From time to time artnet will offer a curated selection of works for a limited period of time in its “Buy Now” category. A consignment made on artnet’s “Buy Now” option is subject to this Master Seller Agreement as if it were the winning bid at auction, except that:

After-Sales. In the event that a lot remains unsold at the close of an auction and a Buyer makes an offer through artnet to purchase the work that is accepted by you, you shall pay artnet a fee as set forth above (or such other fee as shall be agreed upon between artnet and Seller in writing in advance) and the transaction shall be governed by the terms of this Master Seller Agreement.

Private Sales. All private sales are governed by any agreement entered into between artnet and the Seller for each particular private sale. To the extent they are not in conflict, the terms of the Master Seller Agreement shall be incorporated therein.

Shipping and Escrow

artnet may from time to time contract with outside vendors for such services as crating, shipping and escrow payment (“Designated Vendors”). To the extent that artnet determines, in its sole discretion, that the use of Designated Vendors’ services is mandatory in connection with any transaction entered into through the use of artnet’s Site and Services, the applicable procedures and terms of use will be made available on the Site. Seller acknowledges and agrees that, in the event an item of Property is sold on the Site or in private sale, Seller will use the Designated Vendors’ services to affect the transaction, and will comply with artnet’s and Designated Vendors’ procedures and terms of use therefor.

Use of Content

You, the Seller, grant to artnet and its affiliated entities an irrevocable, non-exclusive, worldwide, royalty-free, perpetual license and right to publish, reproduce or otherwise use all materials, text, information, images, photographs or other content, including prices, submitted by you to the Site (collectively, the “Materials”) for all purposes, in any medium whatsoever. It shall be Seller’s sole and exclusive responsibility to secure any necessary permissions and/or authorizations to list, post or display any Materials on the Site where such rights are held by third parties.

Monitoring, Investigation and Disclosure

artnet has the right, but not the obligation, to monitor any activity and content associated with the Site. artnet may, but shall not be obligated to, investigate any reported violation of this Agreement or any of its policies and guidelines (including, without limitation our Privacy Policy and Auction Website Terms of Use) or complaints and take any action that it deems appropriate. Such action may include, but is not limited to, issuing warnings, suspension or termination of service, denying access and/or removal of any materials on the Site, including bids, all of which may be taken by artnet without liability to you or any other person or entity. artnet reserves the right and has sole discretion, to remove, screen or edit any content that violates these provisions or is otherwise objectionable. In addition, artnet may, in its sole discretion, remove any item of Property or cancel any auction in progress that it determines has been posted on the Site in violation of this Agreement or any of its policies and guidelines (including, without limitation our Privacy Policy and Auction Website Terms of Use). In the event of a removal or cancellation, artnet will not have any liability to you, any seller or any other person or entity with respect to the offer of such item or the cancellation of the auction. artnet also reserves the right to terminate this contract or to suspend use of the Site and/or Service to any user at any time and for any reason without notice or explanation.

All information we collect on this Site is subject to our Privacy Policy. By using the Site you consent to all actions taken by us with respect to your information in compliance with the Privacy Policy.

Further, as permitted by applicable law, artnet also reserves the right to report any activity that it suspects violates any law or regulation to appropriate law enforcement officials, regulators, or other third parties. In order to cooperate with information requests, to protect artnet’s systems and customers, to allow users to resolve disputes, or to ensure the integrity and operation of the Site, artnet’s business and systems or other purposes deemed reasonable by artnet, artnet may access and disclose any information it considers necessary or appropriate, including, without limitation, user contact details, IP addressing and traffic information, usage history and posted content.

Dispute Resolution

It is artnet’s policy that Sellers carefully describe all items of Property offered for sale on the Site and you warrant that the information is truthful and accurate and contains no material misrepresentations or omissions. This includes text descriptions and images of each item of Property, including, without limitation, its physical condition, age, authenticity, provenance, and any other relevant data. artnet’s policy requires you to photograph all known modification of the original Property, including damage or wear and tear to Property, and to clearly disclose such damage on the Site.

Because artnet is not a party in the actual transaction between a seller and buyer conducted through the Site and is not the agent of either for any purpose, artnet does not have the duty to attempt to resolve or resolve any disputes between participants related to or arising out of any such transaction. artnet has no control over and does not guarantee the quality, safety or legality of an item offered for sale through the Site, the truth or accuracy of listings, the authority of sellers to sell items or pass title, the ability of buyers to pay for items, or that a buyer or seller will actually complete a transaction. No statement by any seller regarding condition, kind, value or quality of a lot shall be construed to be an expressed or implied warranty, representation or assumption of the liability by artnet.

Accordingly, Sellers and Buyers should resolve amongst themselves all disputes between them arising from the use of this Site. artnet reserves the right, but has no obligation, to investigate either a Seller’s or a Buyer’s complaint with respect to any item of Property offered for sale through the Site. You agree to cooperate with any investigation that artnet may conduct in response to a claim, and to provide artnet with any documentation in your possession or control.

Indemnification

You agree to indemnify, defend and hold harmless artnet, and all its officers, directors, owners, agents, employees, content providers, affiliates, licensors and licensees (collectively, the “Indemnified Parties”) from and against any and all claims, actions, losses, damages, liabilities, and all fees, costs and expenses of any kind related thereto (including without limitation, attorneys’ fees and settlement amounts) incurred or suffered by the Indemnified Parties in connection with any claim arising out of, based upon or resulting from: (i) your use of, or inability to use, the Site or Services (including without limitation any claim related to any Property offered for sale or sold by you on the Site); (ii) any negligence, willful misconduct or any breach of this Agreement and any terms and/or policies incorporated by reference herein (including without limitation, breach of any warranty, covenant or obligation hereunder by you); (iii) your violation of any State, Federal, Foreign or International laws, codes or regulations; and (iv) your violation of any third party’s rights, including but not limited to, infringement of copyright, violation of any proprietary right or invasion of any privacy rights. You agree to use counsel reasonably satisfactory to the Indemnified Parties to defend each indemnified claim or action. artnet reserves the right, at its own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you. You shall not in any event consent to the entry of any judgment or settle any claim, action or other matter without the prior written consent of artnet.

Disclaimer of Warranties

artnet does not represent or endorse the accuracy or reliability of any advice, opinion, statement, or other information displayed or distributed through the Site or Services. You acknowledge that any reliance upon any such opinion, advice, statement, memorandum, or information shall be at your sole risk. artnet reserves the right, in its sole discretion, to correct any errors or omissions in any portion of the Site or Services.

THE SITE AND SERVICES, INCLUDING ALL CONTENT, SOFTWARE, FUNCTIONS, MATERIALS AND INFORMATION MADE AVAILABLE ON OR ACCESSED THROUGH THE SITE, IS PROVIDED ON AN “AS IS” “AS AVAILABLE” BASIS WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

CERTAIN CONTENT MAY BE CONSIDERED OBJECTIONABLE BY INDIVIDUAL USERS. THIS SITE IS INTENDED FOR PEOPLE OVER THE AGE OF 18.

NEITHER ARTNET NOR ITS CONTENT PROVIDERS WARRANT THAT THE FUNCTIONS, FEATURES OR CONTENT CONTAINED IN THE SITE OR SERVICES WILL BE UNINTERRUPTED, ACCURATE, OR ERROR FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT ANY OTHER SITE OR THE SERVER THAT MAKES IT AVAILABLE IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.

Release

BECAUSE ARTNET IS NOT THE SELLER IN TRANSACTIONS BETWEEN BUYERS AND SELLERS, IF A DISPUTE ARISES BETWEEN ONE OR MORE PARTICIPANTS, YOU RELEASE ARTNET (AND ITS SUBSIDIARIES, PARENTS, AFFILIATES, OFFICERS, DIRECTORS, AGENTS, AND EMPLOYEES) FROM CLAIMS, DEMANDS AND DAMAGES (ACTUAL AND CONSEQUENTIAL) OF EVERY KIND AND NATURE, KNOWN AND UNKNOWN, SUSPECTED AND UNSUSPECTED, DISCLOSED AND UNDISCLOSED, ARISING OUT OF OR IN ANY WAY CONNECTED WITH SUCH DISPUTES. IF YOU ARE A CALIFORNIA RESIDENT, YOU WAIVE CALIFORNIA CIVIL CODE 1542, WHICH SAYS: "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR." YOU, BEING AWARE OF SAID CODE SECTION, HEREBY EXPRESSLY WAIVE ANY RIGHTS YOU MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT. YOU ACKNOWLEDGE AND AGREE THAT THIS WAIVER IS AN ESSENTIAL AND MATERIAL TERM OF THIS AGREEMENT, AND THAT WITHOUT SUCH WAIVER, THIS AGREEMENT WOULD NOT HAVE BEEN ENTERED INTO BY ARTNET.

Non-United States Residents

artnet makes no representation that any Property offered by you for auction or sale on this Site or purchased by Seller on this Site may be legally exported from the country of location of the Property or imported into any other country, including that of Buyer. Buyer and Seller are responsible for obtaining and completing all necessary import and export forms, permissions, licenses in conformance with the law of the applicable location to effectuate the transactions contemplated by this Agreement.

Survival

The following sections survive any termination of this Agreement: Use of the Site; Fees (with respect to fees owed for our services); Seller’s Warranties; After-Sales and Private Sales; Shipping and Escrow; Use of Content; Monitoring, Investigation and Disclosure; Dispute Resolution; Indemnification; Non-United States Residents; and General Provisions.

General Provisions

These Terms shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflicts of laws provisions. YOU AGREE THAT ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR OUR SERVICES SHALL BE SETTLED BY BINDING ARBITRATION IN ACCORDANCE WITH THE COMMERCIAL ARBITRATION RULES OF THE AMERICAN ARBITRATION ASSOCIATION. ANY SUCH CONTROVERSY OR CLAIM SHALL BE ARBITRATED ON AN INDIVIDUAL BASIS, AND SHALL NOT BE CONSOLIDATED IN ANY ARBITRATION WITH ANY CLAIM OR CONTROVERSY OF ANY OTHER PARTY. THE ARBITRATION SHALL BE CONDUCTED IN NEW YORK COUNTY, NEW YORK, AND JUDGMENT ON THE ARBITRATION AWARD MAY BE ENTERED INTO ANY COURT HAVING JURISDICTION THEREOF. EITHER YOU OR ARTNET MAY SEEK ANY INTERIM OR PRELIMINARY RELIEF FROM A COURT OF COMPETENT JURISDICTION IN NEW YORK COUNTY, NEW YORK. IF NECESSARY TO PROTECT THE RIGHTS OR PROPERTY OF YOU OR ARTNET PENDING THE COMPLETION OF ARBITRATION AND YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT AND SUBMIT TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF THESE TERMS AND CONDITIONS.

These Terms constitute the entire agreement between you and artnet with respect to the subject matter hereof, and supersede all previous written or oral agreements between the parties with respect to such subject matter. You shall not assign these Terms to any other entity or person without the prior written consent of artnet. No term or condition of this Agreement shall be held to be waived, modified or deleted except by a written instrument signed by the parties hereto. No waiver by either you or artnet of any breach or default hereunder shall be deemed to be a waiver of any preceding or subsequent breach or default. The section headings used herein are for convenience only and shall not be given any legal import. Any cause of action you may have with respect to artnet must be commenced within one year after the claim or cause of action arises or such claim or cause of action is barred.

Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of each of the parties hereto and their respective heirs, executors, beneficiaries, successors and assigns.

Property policy and listing guidelines

  1. Restricted Property

    A Seller shall not offer for sale any Property on the Site if the offering or sale of such Property violates applicable laws or regulations or may subject the Seller or artnet to potential liability. Without limiting the foregoing, a Seller may not post the following types of property for sale on the Site:

    • Property containing ivory, tortoiseshell, or any other product of a plant or animal species that is protected as endangered or threatened under applicable national or local law
    • Wine, beer, liquor, distilled spirits or any product containing alcohol
    • Products containing tobacco or tobacco derivatives
    • Any firearms or explosives
    • Any artifacts or materials connected with or related to the “Nazi” regime that in artnet’s sole discretion lacks appropriate artistic merit, offensive material, “hate” literature or other material, or any other property that artnet deems, in its sole discretion, to be inappropriate or offensive
    • Any perishable products
    • Livestock or other living creatures
    • Any item containing human remains including but not limited to blood, hair, bone or tissue
    • Slot machines and gaming equipment
    • Pornographic material, including MPA-rated X, home porn, and hard-core material
    • Stolen property
    • Any property that a Seller is prohibited from selling under applicable “foreign asset control” or “economic sanction” restrictions and regulations promulgated from time to time, or if under a court’s control or under a court’s order prohibiting sale
    • Property whose sale or offering for sale would infringe any proprietary rights (including without limitation copyright, patent, trademark or other intellectual property rights), or privacy or publicity rights of any third party
    • Property whose sale or offering for sale is prohibited under applicable laws, rules or regulations
    • Defamatory or libelous material

    Notwithstanding the items set forth above, artnet reserves the right. in its sole discretion, to restrict or prohibit any item of Property from being offered for sale through the Site.

  2. Code of Conduct

    artnet is committed to maintaining high standards of business, legal and ethical practices. Given the complex international legal and ethical environment in which international art and other markets operate, each Seller is required to fully endorse and agree to the following policy statements regarding Property to be offered for sale on the Site.

    • No item of Property will be sold or offered for sale, if a Seller knows or has reason to believe that such item of Property was illegally exported or imported.
    • Seller agrees to comply with the laws of the countries in which the Seller is doing business, including applicable export or import laws.
    • Seller endorses the regular review by the Art Loss Register of the Site.
  3. Listing Guidelines

    Each Seller is required to fully endorse and agree to the following listing guidelines regarding Property to be offered for sale on the Site

    • Seller agrees not to include brand names or other keywords in the title that may affect the keyword searches for the Site.
    • Seller agrees not to use brand names, misleading or inappropriate aliases for his/her screen name.
    • Seller agrees to list the items within the appropriate categories on the Site.
    • Seller agrees to deliver the item of Property purchased from it unless the buyer of such item of Property fails to make payment.
    • Seller agrees to fully disclose all shipping information to the buyer and to not misrepresent where the item of Property will be shipped from.
    • Seller agrees to arrange for the work to be available for pickup, including, but not limited to, paying all release fees for the seller’s chosen storage facility.
    • Seller agrees to disclose the states where it is are obligated to collect sales taxes. Seller shall be responsible for the collection and remittance of all applicable sales taxes.
    • Seller agrees not to increase the rate to the buyer to pay for the use of credit cards, or other methods of payments used in the ordinary course of business.
    • Seller agrees not to misrepresent the estimate of any item of Property.
    • Seller agrees not to use profanity or obscene images in any listing of Property.
    • Seller endorses the regular review by the Art Loss Register of the Site.

VIOLATION OF ANY OF THE FOREGOING POLICIES AND GUIDELINES SET FORTH ABOVE MAY RESULT IN THE IMMEDIATE TERMINATION OF ANY AUCTION BEING CONDUCTED BY A SELLER ON A SITE, BY THE REMOVAL OF THE PROPERTY FROM THE SITE AND/ OR THE IMMEDIATE TERMINATION OF THE SELLER’S MASTER SELLER AGREEMENT.