Contractual Agreement as Artwork

Alfred Steiner has just created a new art work consisting solely of an agreement. The art work is up for auction on eBay, with one bid coming in at a high .01 cent. Note that the agreement-as-artwork carries with it a 10% right of resale, which gives Steiner that percentage in “royalties” if and when the work is resold. The contract as artwork is a current hot topic, but rarely effective and enforceable. Seth Siegelaub’s, The Artist’s Reserved Rights Transfer and Sale Agreement comes to mind, and one that has functionality as well as art historical substance. Oh, and it also has a resale right. Are artists finally catching up to musicians?

This is an auction for an artwork.  The artwork is not a painting, drawing or sculpture–it is an agreement.  The full text of the agreement … can also be downloaded in Microsoft WORD form at http://www.alfredsteiner.com/Agreement1.doc.  You should read the agreement itself, but in brief, I describe the nature of the artwork as agreement, provide for an Initial Purchase Price (which will be the winning bid for this auction), promise that I won’t create a functionally equivalent artwork, and describe how the Purchaser (that is, the winning bidder of this auction) may transfer the work (which requires a payment of 10% of any sales price back to me).

His project, Agreement as Artwork, can be read and bid on here. If you’d like to read Steiner’s agreement now, see below.

AGREEMENT AS ARTWORK NO. 1

This Agreement as Artwork No. 1 (“Agreement”), effective as of June 28, 2010 (“Effective Date”), is made by and between Alfred Steiner (“Artist”) and [NAME OF PURCHASER] (“Purchaser”).

WHEREAS, Artist has drafted this Agreement as an artwork in and of itself (the “Work”); and

WHEREAS, Purchaser desires to purchase the Work on the terms and conditions described herein.

NOW, THEREFORE, in consideration of the mutual covenants and other valuable consideration contained herein, Artist and Purchaser hereby agree as follows:

1.      Initial Purchase Price of the Work. Within seven (7) days following the Effective Date, Purchaser shall pay to Artist $[WINNING BID].00 as the initial purchase price of the Work (the “Initial Purchase Price”).

2.      Title to the Work. Title to the Work shall not pass to Purchaser unless and until Artist has received the Initial Purchase Price.

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