By pledging to a finished work, you are not only supporting the artistic practice of its Creator but also are entitled to a share of the sale proceeds once the work you pledged to is sold. Co-Producers get 70% of the net retail sale price of the work, to be split pro-rata as against the proportion that each Co-Producer pledged.
The Target Amount equals to 40% of the work's retail price, which is set by its Creator and reviewed by art:i:curate. In other words, the standard retail price of a work is 2.5 times its Target Amount.
Please note that art:i:curate reserves the right to change the retail price if required.
art:i:curate is, foremost, a platform to support creative practice through a global community effort.
Funding works of emerging artists and designers involves risks such as illiquidity and uncertain future value. Funding is targeted exclusively at users who understand these risks and make their own decisions to pledge.
art:i:curate does not guarantee that funded works will sell and when they will sell. We may also change the retail price at our own discretion, if required.
Once the Target Amount is successfully reached, the Creator receives the funds and 70% of the ownership passes to the Co-Producers, split pro-rata as against the proportion that each Co-Producer pledged. The Creator owns the remaining 30%. When the work is sold, net sale proceeds are distributed to the Creator and Co-Producers accordingly.
art:i:curate holds the exclusivity to sell and, if necessary, modify the retail price.
The Creator is responsible for keeping the work in a safe and secure place until it is sold or exhibited. The Creator agrees to carefully and suitably pack the work for shipping, unless requested otherwise by the buyer or art:i:curate.