Poster Bob
Junior Member
Posts • 5,814
Likes • 5,422
September 2013
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MADDOX GALLERY, by Poster Bob on Nov 12, 2020 22:01:31 GMT 1, Most galleries buy at auction to resell at even higher prices. This is how the industry works.
Most galleries buy at auction to resell at even higher prices. This is how the industry works.
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doncarlos45
New Member
Posts • 123
Likes • 109
June 2018
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MADDOX GALLERY, by doncarlos45 on Nov 12, 2020 22:16:44 GMT 1, There were 3 Onbu’s for sale at 3 different galleries recently ..all in the £23k to £27k range. I believe all have been sold.
There were 3 Onbu’s for sale at 3 different galleries recently ..all in the £23k to £27k range. I believe all have been sold.
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Dubman
New Member
Posts • 355
Likes • 408
May 2020
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MADDOX GALLERY, by Dubman on Nov 13, 2020 9:29:45 GMT 1, Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them.
I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece.
So basically I was renting the work from them!
Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them.
I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece.
So basically I was renting the work from them!
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Rubberneck
Junior Member
Posts • 1,042
Likes • 1,420
October 2018
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MADDOX GALLERY, by Rubberneck on Nov 13, 2020 9:36:31 GMT 1, Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them!
Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! Lol, jokers |
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Deleted
Posts • 0
Likes •
January 1970
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MADDOX GALLERY, by Deleted on Nov 13, 2020 10:16:14 GMT 1, Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them!
No way!
That's quite an excellent money grab
Maddox encompass all that is wrong in our little world
Great to have it all wrapped up in one business
Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! No way! That's quite an excellent money grab Maddox encompass all that is wrong in our little world Great to have it all wrapped up in one business |
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Deleted
Posts • 0
Likes •
January 1970
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MADDOX GALLERY, by Deleted on Nov 13, 2020 10:34:29 GMT 1, I spoke directly to Maddox to purchase a Banksy about 2 months ago... gave them my pretty healthy budget and they promised a price list and PDFs of all available works later that morning. Never heard from them again... they lost my business to another party!
I spoke directly to Maddox to purchase a Banksy about 2 months ago... gave them my pretty healthy budget and they promised a price list and PDFs of all available works later that morning. Never heard from them again... they lost my business to another party!
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MADDOX GALLERY, by Johnny Sarcasm on Nov 13, 2020 10:47:59 GMT 1, Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! No way! That's quite an excellent money grab Maddox encompass all that is wrong in our little world Great to have it all wrapped up in one business
Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! No way! That's quite an excellent money grab Maddox encompass all that is wrong in our little world Great to have it all wrapped up in one business Completely agree. And they peddle shit art as an investment. |
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kc143
New Member
Posts • 100
Likes • 45
August 2017
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MADDOX GALLERY, by kc143 on Nov 13, 2020 11:42:34 GMT 1, Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! 
Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! Wow, I cannot believe that....good to know always read those T & C 's |
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gd79
Junior Member
Posts • 1,129
Likes • 1,220
September 2015
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MADDOX GALLERY, by gd79 on Nov 13, 2020 12:32:41 GMT 1, Is that even legally enforceable? Was it for a defined time limit, which I can just about understand, or just a blanket covenant?
Is that even legally enforceable? Was it for a defined time limit, which I can just about understand, or just a blanket covenant?
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lv90210
Junior Member
Posts • 2,030
Likes • 1,926
January 2018
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MADDOX GALLERY, by lv90210 on Nov 13, 2020 12:41:13 GMT 1, Maddox have more legal cases against them than Pennsylvania currently do.
Stay well clear !
Maddox have more legal cases against them than Pennsylvania currently do.
Stay well clear !
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Dubman
New Member
Posts • 355
Likes • 408
May 2020
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MADDOX GALLERY, by Dubman on Nov 13, 2020 13:09:03 GMT 1, Is that even legally enforceable? Was it for a defined time limit, which I can just about understand, or just a blanket covenant?
So if i kept the art for 20-30 years they would own my kids, my grandkids and anyone who lived within a 10 mile radius of the artwork.
I would have been better off signing a contract with Lucifer 'the prince of darkness' which had much more reasonable terms (and involved me owning every Signed Girl With Balloon - AP 
Is that even legally enforceable? Was it for a defined time limit, which I can just about understand, or just a blanket covenant? There was no timescale, so not only was I legally obliged to give them first refusal and 20% of the profit, it was also until the end of time. So if i kept the art for 20-30 years they would own my kids, my grandkids and anyone who lived within a 10 mile radius of the artwork. I would have been better off signing a contract with Lucifer 'the prince of darkness' which had much more reasonable terms (and involved me owning every Signed Girl With Balloon - AP |
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JAlternatión
Junior Member
Posts • 1,268
Likes • 963
December 2011
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MADDOX GALLERY, by JAlternatión on Nov 13, 2020 14:18:12 GMT 1, Maddox, as I understand it, are run by art loving former stockbrokers. Certainly they have pushed the art investment angle (I get sponsored adverts about this a lot) and do have a 20% sell on clause if you go down that route, but i have also purchased items from them and found them to be great to deal with.
It's easy to say that their approach is purely financially motivated... they will look to create a market by having buyers invest in art that they never put on a wall (Maddox have a storage facility for this I am led to believe) and then sell for a profit later on, but you have to expect that now that street art costs 1000x the release price.
The last 3-5 years in particular have made Banksy the hottest commodity out there (barring Covid vaccine). Love it or hate it, that's how it is.
Maddox, as I understand it, are run by art loving former stockbrokers. Certainly they have pushed the art investment angle (I get sponsored adverts about this a lot) and do have a 20% sell on clause if you go down that route, but i have also purchased items from them and found them to be great to deal with.
It's easy to say that their approach is purely financially motivated... they will look to create a market by having buyers invest in art that they never put on a wall (Maddox have a storage facility for this I am led to believe) and then sell for a profit later on, but you have to expect that now that street art costs 1000x the release price.
The last 3-5 years in particular have made Banksy the hottest commodity out there (barring Covid vaccine). Love it or hate it, that's how it is.
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tonys
New Member
Posts • 424
Likes • 344
July 2012
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MADDOX GALLERY, by tonys on Nov 13, 2020 16:59:10 GMT 1, Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them!
Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! is that even legal? |
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Deleted
Posts • 0
Likes •
January 1970
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MADDOX GALLERY, by Deleted on Nov 13, 2020 17:04:17 GMT 1, Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! is that even legal?
I doubt there's a law against it... and if you sign a contract, you're obliged.
It's even more foolish to sign up to that when there are dozens of galleries nearby who would be more than happy to deal in your terms.
Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! is that even legal? I doubt there's a law against it... and if you sign a contract, you're obliged. It's even more foolish to sign up to that when there are dozens of galleries nearby who would be more than happy to deal in your terms. |
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Deleted
Posts • 0
Likes •
January 1970
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MADDOX GALLERY, by Deleted on Nov 13, 2020 17:05:36 GMT 1, I doubt there's a law against it... and if you sign a contract, you're obliged. It's even more foolish to sign up to that when there are dozens of galleries nearby who would be more than happy to deal in your terms.
Would be fun (that's how I roll) to see the contract. Anyone got a copy?
I doubt there's a law against it... and if you sign a contract, you're obliged. It's even more foolish to sign up to that when there are dozens of galleries nearby who would be more than happy to deal in your terms. Would be fun (that's how I roll) to see the contract. Anyone got a copy? |
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Dubman
New Member
Posts • 355
Likes • 408
May 2020
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MADDOX GALLERY, by Dubman on Nov 13, 2020 17:20:06 GMT 1, On the website - maddoxgallery.com/terms-and-conditions/
Right of 20% Overage
You (“The Client”) agree to pay Maddox Gallery Gallery Limited (“the Company”) 20% (“The Overage”) of any profit achieved from the resale of any art you purchase through Maddox Gallery. This overage is to be paid across to the Maddox Gallery company bank account or an account of the companies choosing within 5 business days of the resale of the work of art by the client.
Theres a 'first refusal' clause too...
It's the equivalent of buying a house, living in it for 20 years and then giving the old owner 20% of the profit when you sell it.
Genius #alwaysreadthesmallprint
On the website - maddoxgallery.com/terms-and-conditions/Right of 20% Overage You (“The Client”) agree to pay Maddox Gallery Gallery Limited (“the Company”) 20% (“The Overage”) of any profit achieved from the resale of any art you purchase through Maddox Gallery. This overage is to be paid across to the Maddox Gallery company bank account or an account of the companies choosing within 5 business days of the resale of the work of art by the client. Theres a 'first refusal' clause too... It's the equivalent of buying a house, living in it for 20 years and then giving the old owner 20% of the profit when you sell it. Genius #alwaysreadthesmallprint |
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gd79
Junior Member
Posts • 1,129
Likes • 1,220
September 2015
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MADDOX GALLERY, by gd79 on Nov 13, 2020 17:25:21 GMT 1, I doubt there's a law against it... and if you sign a contract, you're obliged. It's even more foolish to sign up to that when there are dozens of galleries nearby who would be more than happy to deal in your terms.
But it may not be legally enforceable. Or at least, it's not like they micro-chip the art. Doesn't have to be a visible sale
I doubt there's a law against it... and if you sign a contract, you're obliged. It's even more foolish to sign up to that when there are dozens of galleries nearby who would be more than happy to deal in your terms. But it may not be legally enforceable. Or at least, it's not like they micro-chip the art. Doesn't have to be a visible sale |
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iamzero
Full Member
Posts • 9,190
Likes • 8,542
May 2011
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MADDOX GALLERY, by iamzero on Nov 13, 2020 17:55:10 GMT 1, Wankers.
Wankers.
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MADDOX GALLERY, by Carl Cashman Art on Nov 13, 2020 18:10:24 GMT 1, Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them!
Maddox notoriously expensive and in some cases demand a 20% overage on anything you buy from them. I almost bought a piece earlier in the year until i saw the Ts&Cs (which I was asked to sign) giving them first refusal and 20% of the profit when I wanted the sell the piece. So basically I was renting the work from them! Next time someone sells them a piece, they should demand the same terms. |
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Dive Jedi
Junior Member
Posts • 6,160
Likes • 9,392
October 2015
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MADDOX GALLERY, by Dive Jedi on Nov 13, 2020 18:16:31 GMT 1, On the website - maddoxgallery.com/terms-and-conditions/Right of 20% Overage You (“The Client”) agree to pay Maddox Gallery Gallery Limited (“the Company”) 20% (“The Overage”) of any profit achieved from the resale of any art you purchase through Maddox Gallery. This overage is to be paid across to the Maddox Gallery company bank account or an account of the companies choosing within 5 business days of the resale of the work of art by the client. Theres a 'first refusal' clause too... It's the equivalent of buying a house, living in it for 20 years and then giving the old owner 20% of the profit when you sell it. Genius #alwaysreadthesmallprint
W T F'ing F !!
On the website - maddoxgallery.com/terms-and-conditions/Right of 20% Overage You (“The Client”) agree to pay Maddox Gallery Gallery Limited (“the Company”) 20% (“The Overage”) of any profit achieved from the resale of any art you purchase through Maddox Gallery. This overage is to be paid across to the Maddox Gallery company bank account or an account of the companies choosing within 5 business days of the resale of the work of art by the client. Theres a 'first refusal' clause too... It's the equivalent of buying a house, living in it for 20 years and then giving the old owner 20% of the profit when you sell it. Genius #alwaysreadthesmallprint W T F'ing F !! |
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Dive Jedi
Junior Member
Posts • 6,160
Likes • 9,392
October 2015
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MADDOX GALLERY, by Dive Jedi on Nov 13, 2020 18:17:53 GMT 1, I spoke directly to Maddox to purchase a Banksy about 2 months ago... gave them my pretty healthy budget and they promised a price list and PDFs of all available works later that morning. Never heard from them again... they lost my business to another party!
Thanks again for buying my Peckham Rock instead, Yorky !
I spoke directly to Maddox to purchase a Banksy about 2 months ago... gave them my pretty healthy budget and they promised a price list and PDFs of all available works later that morning. Never heard from them again... they lost my business to another party! Thanks again for buying my Peckham Rock instead, Yorky ! |
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MADDOX GALLERY, by verylittlehelps on Nov 13, 2020 18:44:19 GMT 1, Tbh, I bought something from Maddox quite a while ago. They've never contacted me since and would have no idea whether I still owned the artwork or not. I don't know how those sorts of clauses would ever work in practice unless you told them you wanted to sell.
Tbh, I bought something from Maddox quite a while ago. They've never contacted me since and would have no idea whether I still owned the artwork or not. I don't know how those sorts of clauses would ever work in practice unless you told them you wanted to sell.
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