Art Sale Contract

This Art Sale Contract (‘Contract') dated [DATE] is entered into by and between, [YOUR COMPANY NAME] hereinafter referred to as the "Seller," and [BUYER'S NAME], hereinafter referred to as the "Buyer," collectively referred to as the "Parties."

1. Description of Artwork:

The Seller agrees to sell, and the Buyer agrees to purchase the following artwork:

Title: Starry Night
Artist: Vincent van Gogh
Medium: Oil on Canvas
Dimensions: 73.7 cm × 92.1 cm (29 in × 36 1⁄4 in)
Description: A masterpiece depicting the night sky over a small town, characterized by swirling clouds and bright stars.

2. Purchase Price:

The purchase price for the artwork is agreed upon as USD 100,000 ("Purchase Price"). The Purchase Price shall be paid by the Buyer to the Seller in the manner specified in Section Payment Terms of this Contract.

3. Payment Terms:

3.1 Payment Schedule:

Upon finalizing this contract through the act of signing it, the individual or entity designated as the buyer is obligated to immediately fulfill their financial responsibility by paying the entire amount stipulated as the purchase price.

3.2 Method of Payment

Payment shall be made in US dollars by wire transfer to the Seller's designated account at [Bank Name], account number [Account Number], within three (3) business days of the Effective Date.

3.3 Consequences of Late Payment:

Should there be a failure to complete the payment as dictated by the terms and conditions in this Contract, it will be deemed as a material breach.

4. Delivery Arrangements:

4.1 Shipping Responsibility:

The Seller shall be responsible for arranging the delivery of the artwork to the Buyer's specified location at the Seller's expense, using a reputable art shipping service.

4.2 Inspection Period:

The Buyer shall inspect the artwork upon delivery and notify the Seller of any damages or discrepancies within seven (7) days of receipt.

5. Warranties:

5.1 Seller's Warranty of Title:

The Seller warrants that they have the full right, title, and authority to sell the artwork and that the artwork is free from any liens or encumbrances.

5.2 Exclusion of Other Warranties:

The Seller makes no other warranties, express or implied, regarding the artwork, including but not limited to warranties of merchantability or fitness for a particular purpose.

6. Intellectual Property Rights:

6.1 Transfer of Intellectual Property

The sale of the artwork does not transfer any intellectual property rights to the Buyer.

6.2 Restrictions on Use

The Buyer shall not reproduce, distribute, or display the artwork for commercial purposes without the prior written consent of the Seller.

7. Governing Law:

This Contract shall be governed by and construed by the laws of the State of New York. Any disputes arising out of or relating to this Contract shall be resolved exclusively through arbitration in New York City under the rules of the American Arbitration Association.

8. Entire Agreement:

This Contract constitutes the entire agreement between the Parties concerning the sale of the artwork and supersedes all prior agreements and understandings, whether oral or written.

IN WITNESS WHEREOF, the Parties have executed this Contract as of the Effective Date first written above.

[YOUR COMPANY NAME] (Seller)

[DATE SIGNED]

[BUYER'S NAME] (Buyer)

[DATE SIGNED]