CA Gallery Representation & Sales 2

Question 1

An artist consigns 10 pieces to a gallery at a 50/50 split. The gallery sells 3 works totaling $6,000. How much does the artist receive?

Accepted Answer

$3,000

Answer

A 50/50 consignment split means the artist receives half of total sales, so $6,000 ÷ 2 = $3,000.

Question 2

Which document specifically lists every artwork left with a gallery, including title, medium, dimensions, and retail price?

Accepted Answer

Inventory receipt / consignment list

Answer

A consignment list (or inventory receipt) itemizes each individual work left with the gallery along with its details and retail price.

Question 3

A gallery wants to change an artist's retail prices without consent. Under standard consignment law in most U.S. states, this is:

Accepted Answer

A breach of the consignment agreement

Answer

Most consignment agreements and state consignment laws require mutual consent before retail prices can be altered.

Question 4

What is the primary purpose of a 'reserve price' set by an artist when working with an auction house?

Accepted Answer

To set the minimum price below which the work will not be sold

Answer

A reserve price is the confidential minimum a seller will accept; the work passes (is withdrawn) if bidding does not reach it.

Question 5

Which of the following best describes a 'vanity gallery'?

Accepted Answer

A gallery that charges artists a fee to exhibit rather than earning commission on sales

Answer

Vanity galleries (also called rental galleries) charge artists upfront fees to show work, unlike commission-based commercial galleries.

(CA) Certified Artist Practice Test