CA Art Business & Marketing 2

Question 1

Which contract clause protects an artist if a gallery closes or goes bankrupt while holding their work?

Accepted Answer

Consignment with title retention

Answer

A consignment agreement with title retention means the artist retains legal ownership of the work until it is sold, protecting it from creditors if the gallery fails.

Question 2

An artist wants to license an image for use on merchandise. Which royalty structure pays the artist a percentage of each unit sold?

Accepted Answer

Royalty-based license

Answer

A royalty-based license pays the artist an ongoing percentage of revenue from each unit sold, unlike a flat fee or buy-out which are one-time payments.

Question 3

What is the primary purpose of an artist's statement in a portfolio or gallery submission?

Accepted Answer

To contextualize the work and communicate the artist's intent

Answer

An artist's statement gives viewers, curators, and collectors context for the work by articulating the themes, processes, and intentions behind it.

Question 4

Which pricing method sets artwork prices based on what similar works by comparable artists are selling for?

Accepted Answer

Competitive market pricing

Answer

Competitive market pricing benchmarks an artist's prices against comparable artists and similar works in the current marketplace.

Question 5

A gallery takes 40% of the sale price of an artwork listed at $2,000. What does the artist receive?

Accepted Answer

$1,200

Answer

The gallery retains 40% ($800) and the artist receives the remaining 60%, which is $1,200.

(CA) Certified Artist Practice Test

(CA) Certified Artist Practice Test

CA Art Business & Marketing 2