Seller Agreement

1. Seller appointment and authority

You appoint Gavelum to administer the marketplace listing and, for completed Gavelum sales, as your limited payment-collection agent. You retain responsibility for the artwork, your authority to sell it, your representations, and your legal and tax obligations.

2. Seller warranties

• You own the offered interest or have documented authority to sell it.
• The work is accurately described and is not stolen, counterfeit, unlawfully reproduced, pledged, simultaneously sold, or subject to an undisclosed lien or conflicting right.
• You have disclosed material condition, provenance, restoration, edition, attribution, ownership, creditor, and authority information known to you.
• You will preserve the artwork and all material transaction evidence while a listing, sale, custody arrangement, dispute, tax obligation, or recovery matter remains active.

3. Auction administration

Gavelum may determine or approve listing eligibility, tier, schedule, opening price, reserve treatment, bid rules, verification requirements, and other marketplace controls. Once an auction is active, you may not withdraw, sell, pledge, transfer, or separately consign the same object except through an authorized Gavelum process.

4. Fees and proceeds

The applicable transaction schedule states the commission, charges, tax treatment, immediate proceeds, and any Conditional Custody Payable. Gavelum's seller commission is 20% of hammer price. On the original custody-continuing sale, the original seller-custodian receives 20% of hammer after the transaction becomes market-final and 60% is recorded as that custodian's Conditional Custody Payable. A later seller in an approved custody-continuing resale receives the full net proceeds after the 20% commission; no new Conditional Custody Payable is created. Gavelum may deduct or set off authorized refunds, reversals, chargebacks, taxes, costs, and liabilities arising from the transaction or your breach.

5. Payment collection

You authorize Gavelum and its approved payment provider to receive buyer payment, verify identities, process transactions, deduct authorized amounts, create or reverse transfers, address negative balances where permitted, and prepare payment or tax records. After successful receipt and finalization, your remedy for amounts contractually due is against Gavelum under the applicable agreement rather than against a buyer who has been discharged by the approved payment process.

6. Taxes and reporting

You must provide accurate taxpayer and entity information through the approved provider workflow. Gavelum may issue or facilitate information reporting based on gross transaction amounts. Gross reporting may exceed cash you receive and does not determine taxable income, basis, gain, loss, inventory treatment, or deductions. You are responsible for your own tax advice and filings.

7. Seller-retained custody

If you elect and are approved for seller-retained custody, the item-specific Seller Custody Agreement is incorporated into this Agreement. After title transfers you are the custodian, not the owner, and must preserve, identify, verify, and release the artwork as required. Private custody is capped at $5,000, may begin for up to 12 months, may be renewed in increments of no more than 12 months, and may not exceed 36 cumulative months. An approved custody-continuing resale leaves the original custodian and original Conditional Custody Payable in place and requires current possession and condition verification.

8. Breach and recovery

Fraud, false attribution, counterfeit goods, theft, undisclosed liens, evidence destruction, unauthorized transfer, false verification, refusal to release, intentional damage, or other material breach may result in suspension, cancellation of amounts otherwise payable where contractually permitted, setoff, transaction reversal, recovery activity, and referral to affected parties, providers, courts, or authorities where appropriate.

9. Incorporation of Marketplace Terms

The current Marketplace Terms and item-specific transaction documents are incorporated into this Seller Agreement. If an item-specific schedule expressly conflicts with a general economic term, the item-specific schedule controls for that transaction unless prohibited by law.