Commission and Fees Policy
This Commission and Fees Policy is valid until 17 January 2018.
The below Commission and Fees Policy is valid until 17 January 2018 and has to be read in conjunction with the Seller Terms and Conditions valid until 17 January 2018. The updated version of the Commission and Fees Policy will be valid from 18 January 2018.
COMMISSION AND FEES POLICY
Artfinder takes 30% commission on the initial Retail Price (as set by you, the seller) for all Artworks sold through the platform. Artfinder’s commission is applied to the price of the Artworks sold only, and not to your applied shipping rate.
For Artworks discounted by you through the Artfinder ‘Sale’ and ‘Make an Offer’ functionalities, the 30% commission will be calculated according to the reduced Retail Price at which the customer purchases. From 15th January 2016 this will also apply to all Artworks that are discounted through the use of an 'Artist-Generated Discount Code'.
Where Artfinder has offered a site-wide discount to customers, the discount portion will be absorbed in full by Artfinder.
Tax - EU only
We are obliged to charge 20% VAT on our 30% commission to some sellers. This will lead to an effective 6% extra deduction from the revenue you receive from your artwork, unless you are VAT registered, in case you will be able to reclaim this charge.
VAT is currently chargeable by Artfinder to you in the following circumstances:
- You are UK resident
- You are resident in the EC (not UK) but not VAT registered
VAT is not currently chargeable by Artfinder to you in the following circumstances:
- You are resident in the EC (not UK) and VAT registered and have provided us with a valid VAT (or equivalent) registration number together with sufficient other evidence that is acceptable to HM Revenue & Customs and as required under EC law and regulation
- You are resident outside the UK and the EC.
We ask our sellers to cover transaction processing fees of 3%. This surcharge is applied to the order total, inclusive of shipping. The 3% transaction fee is inclusive of VAT where applicable.
Invoicing and Statements
Artfinder will raise an invoice for each pay run in respect of the commission and fees due on qualifying orders. This will be accessible to download from the ‘Billing’ section of your Artfinder account. You will receive notice of this by email, along with a scheduled payment date. The total paid by the customer for the order (including artwork price and shipping) minus the invoice total will then be remitted to your preferred payment mechanism.
Read more: How does Artfinder spend the commission?