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"Private sales of art" [2019] ELECD 2628; in Wilson, Martin (ed), "Art Law and the Business of Art" (Edward Elgar Publishing, 2019) 178

Book Title: Art Law and the Business of Art

Editor(s): Wilson, Martin

Publisher: Edward Elgar Publishing

Section: Chapter 9

Section Title: Private sales of art

Number of pages: 29

Abstract/Description:

This chapter covers the sale and purchase of art by private agreement between a buyer and a seller, either directly or through an agent. It looks at the issues to be covered in the sale agreement as well as the express and implied terms. Clauses purporting to limits and exclude in sale and agency contracts are also considered. Where an agent is used, the chapter examines the structure of the agency agreement and terms which are usually to be found in such agreements. The dangers of subagencies and secret profits are explained and highlighted. The commercial and legal role of the art dealer is considered.