Sounds good. Hope your new venture is a great success.

A great, fair concept. I’ve listed a few prints for sale and found it very easy to navigate to sell and indeed to find something to buy.

Think this is a great looking project. listed a few bits which was very quick and easy. looking forward to selling bits through there

Not sure I'm following, but does the artist royalty apply to all artworks? Do the blue-chip artists really need a royalty fee on these transactions when they are already commercially successful? How is the royalty fee aggregated and distributed? Do you knock on Hirst's door and drop him some ££. Sorry I think it's an interesting idea, just testing the scope!

Regarding blue-chip artists, this is an interesting one that we’ve given quite a bit thought to. It is true that successful artists stand to be the primary beneficiaries from royalties, but we believe that they are still entitled to share in the value they create for their collectors.

In the interest of fairness, we decided on a model in which all artists were entitled to the same % no matter their status - judging an artist’s financial success to the point that it excluded them from royalties felt too presumptuous. That being said, we will encourage artists who are doing well for themselves to donate their royalties to art-related charities - no names 🙄

We want FairArt to push people to ask these sorts of questions and consider the value of royalties. Our ultimate hope is that we are the start of a much wider industry shift towards fairer compensation on both primary and secondary markets, for each and every artist.

Again, apologies if I’ve missed anything! Please give me a shout if other questions come to mind.

Cheers,
Nick

Although we certainly wish it was the law, sadly, it is not.

There are a number of differences with the ARR and FairArt’s royalties which I’ve outlined below.

The most important one is that the ARR scheme only qualifies for works that are sold by art market professionals (galleries, agents and auction houses), which excludes the millions of private deals done every year that FairArt is targeting. It is also worth considering that…


1. The scheme is geographically constrained to Europeans and all other artists are excluded from profiting of works sold in Europe. 

→ On FairArt all artists will be compensated irrespective of where they are from. 


2. The scheme only includes works that are sold for more than €1000, excluding many emerging artists who are most in need of support and also the majority of the burgeoning prints / multiples market.

→ On FairtArt there will be no minimum price to qualify for compensation. 


3. There are strict rules on what qualifies for the scheme and there are limits to what an artist can be compensated for. 

→ On FairArt artists will receive royalties for everything created in their name (including merchandise, books and open editions). 


4. There is little scope for legal enforcement and the majority of art professionals ignore the law altogether. 

→ By creating a standardised framework, it will not be possible to avoid artist repayments on FairArt.


5. There is a cap of €12,500 as a maximum repayment to the artist for a single work.
→ On FairArt there will be no cap on royalties paid out to artists.


6. Artists rely on collecting societies to represent them and have to pay fees for this service. 

→ FairArt will transparently manage all payouts to artists free of charge.
 

7. The royalty percentage decreases as price increases. 

→ On FairArt there will be a flat commission rate unrelated to price. 

Cheers,
Nick

Cheers for the question.

To sell on FairArt there is a 3% artist royalty fee and a 6% platform fee.

I guess to entice sellers to stick them up for sale? It’s quite a cool concept and hope it translates into sales for all parties. 

...interested o hear more , perhaps a lot more.

oh and yeah how do you get the arr to blu ?

..and can we make the arr for blu 10 %

while we're at it - can someone here sell me an HQ ... and can we do it via FA (shame about the initials there..)

..i don't mind trying something new (within reason)..

Skinner - thank you so much for this considered feedback! As you say, we’re working on implementing greater transparency on the buyer’s side regarding the processing fee.

Dotdot - Glad you would like to know more! Please feel free to reach out to me directly at nick@fairart.io and I would also be happy to jump on a call to discuss further.

We have an email address on file to reach Blu’s people. As mentioned above, royalty payments are the same for all artists in the interest of fairness. If we are unable to pay out royalties for 12 months, the funds will be donated to an arts charity.

If you are interested in one of Blu’s HQ’s, I’d recommend placing a bid here to alert sellers!

Thank you collierscarp 💜 

Sorry dotdot forgot to tag you in previous answer!

Thanks for the question eD, it’s an important one and needs addressing at length, so apologies for the long read…

If you would like a more user-friendly breakdown, you can find it on our authentication page.

Currently, existing marketplaces like Ebay, Depop, 1stdibs, etc., operate under the policy: ‘the buyer is always right’. When we challenged them on the potential for fraudulent buyers, their response was: ‘this is an accepted risk of selling goods on the internet.’

Although there is ultimately no foolproof approach, at FairArt, we have built a robust verification system that protects sellers as much as it does buyers.

All artworks available on FairArt have been handpicked by the team, and we hold extensive data that allows us to verify them. We require original images for most artworks and often request verifiable provenance from sellers.

This whole process is linked to thorough KYC checks (basically identity checks) from our payment partner Stripe. By collecting information, including IDs and proof of address, the checks allow us to ensure that sellers are exactly who they say they are. Stripe also runs a cross check on existing fraud databases to ensure a user has never been flagged for past fraudulent activities.

All payments on FairArt are held in escrow. This means that payments from buyers are held by Stripe from sellers until 3 days after a purchased item has been delivered. This allows for any issues with an item’s condition / authenticity to be raised by the buyer. We handle claims on a case by case basis and give both buyers and sellers the opportunity to submit any relevant documentation.

We also have our own internal background checks: each collector is internally vetted by the team and categorised by considering a number of factors. Everything from a collector’s position in the industry and levels of past activity on FairArt, to social media use and transactional patterns is taken into account. An example of this playing out is that certain high risk items may be off limits for first-time collectors, whereas an established secondary gallery would meet fewer restrictions.

Another important differentiator is shipping: we encourage all sellers to take images of the packaged items with label affixed. Our partnership with DHL gives us access to information on each package’s size and weight and they also spot check content for insurance purposes, aiding us in the prevention of fraudulent claims.

To keeps things simple, we run a no nonsense policy on condition: all artworks must be ‘as new.’ We’ve learnt from other marketplaces that general uncertainty concerning condition is one of the principal reasons that disputes take place. A full definition of what new condition means is available on our site.

If you’ve made it this far, once again, I am sorry for the long reply, but I believe others may have been thinking the same and wanted to be thorough.

Cheers,
Nick

Glad you’re enjoying the site

FairArt has an exclusive partnership with DHL Express that allows us to pass on very competitive rates to our collectors.

All shipments are tracked and guaranteed next day delivery.

The buyer pays for shipping. The seller has an option to take out full shipping insurance for up to €250,000 of an items value at a fee of 1.5%. 

Once an item sells, the seller receives a shipping label and has three days to send the item.

A seller can either arrange a free home pick-up for their item or drop it off at a local service point.

FairArt is also the first marketplace in the industry to offset 100% of emissions from ALL shipments!

You can learn more about our shipping here.

What happens about people selling art through your platform when they have agreed to a non resale agreement? When you pay out royalties does it state what the sale was and if so would it alert the artist to someone breaking the non resale agreement.
For example with the Nicolas Party Portrait with Shells, customers had to agree to NEVER sell on an online platform yet it is shown on your site.