How Pay-outs work when an Artwork Sells

How pay-outs work when an artwork sells

This article is for users on the Free and Exhibitor Pro Plans.

When you curate your first exhibition with artwork ‘For Sale’ on The Exhibit, you’ll be asked to setup a Payout Account with our third party payments provider Stripe.com.

We use Stripe to make sure your artwork sales revenue gets deposited directly into your bank account, to keep your personal details secure and to give your customers confidence they are purchasing from a verified seller.

How Payouts work for Self-curated Exhibitions

Nb. A self-curated exhibition is where you curate an exhibition of your own artworks.

When you sell one of your artworks on The Exhibit, we process the credit card transaction on your behalf and then after 28 days we automatically initiate your sales revenue deposit into your bank account.

Any sales tax or shipping costs collected on your behalf at the time of sale, will also be deposited into your bank account as part of your Payout.

In addition, any fees relating to making your sale on The Exhibit will be automatically deducted from your sales revenue prior to the Payout occurring,  – so you don’t have to worry about making separate payments for these.

How Payouts work for Curated Exhibitions.

Nb. A curated exhibition is where the Curator curates the works of other Artists.

During set-up of a curated exhibition, the Curator defines the revenue share between Curator and Artist. This is used to provide transaction breakdowns and payout information to both Artist and Curator, as well as during checkout calculate any sales tax which is required to be collected by Artist and/or Curator. You can read more about this here.

When an artwork sells from your curated exhibition, we process the credit card transaction and then after 28 days we automatically initiate your sales revenue deposit into the Curator’s nominated bank account.

Any sales tax or shipping costs collected on behalf of the Curator or Artist at the time of sale, will also be deposited into the Curator’s bank account as part of the Payout.

The Curator is then responsible for forwarding the Artist’s share of funds to the Artist, either via bank transfer, Paypal or another preferred payment method arranged between the Curator and Artist.

Any fees associated with making a sale on The Exhibit will also be deducted from the Curator’s share prior to the payout being made.

Payout time-frames

Payouts will be deposited into the Curator’s bank account either 28 days after the date of the transaction, or 28 days after the close of your exhibition if you have a synced offline/online exhibition.

If multiple completed transactions were made on the same date, the resulting funds will be deposited together in a single payout into your or your Curators bank account.

The processing time for payouts can vary based on the country in which you are located and may take up to 15 business days after the initial 28 day period.

The Exhibit makes deposits in the following currencies based on the Curators location: NZD, AUD, USD, CAD, EUR, GBP, HKD, SGD, JPY, CHF, DKK, NOK, and SEK.

Scenarios which can temporarily delay your payout:

  • Not marking the artwork off as ‘Shipped’ or ‘Ready for Pickup’ in your account area. If The Exhibit has not been alerted to the fact your artwork has been packed and dispatched, then we will hold your Payout until we have proof the artwork is on its way to the buyer or ready for the buyer to collect. For self-curated exhibitions this is the responsibility of the single exhibitor involved in the exhibition. For curated exhibitions, the person shipping the work is nominated during exhibition set-up so whoever has been nominated is responsible for marking the sold work as shipped when this can be done.
  • If the sold artwork is currently under investigation by The Exhibit Support Team. If there is a dispute investigation underway on a particular artwork transaction, then the Payout for this sale will be held until the dispute has been successfully resolved between the curator and the buyer.
  • If additional account verification is required. Sometimes our third-party payments provider Stripe requires some additional information from you to verify your identity. You will be alerted to this by email and in your account dashboard. While we are waiting for the verification to be approved, any pending Payouts owing you will be held. When you have provided the additional information requested and our payments provider has successfully verified your information, you will be informed and your held Payout will be deposited.

For further information on payouts please read our Exhibitor Policy.

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Have more questions?

View our Exhibitor Handbook for more helpful guides, or please don’t hesitate to contact us at support@theexhibit.io and we’ll get right back to you!