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July 20, 2006
Dear Client:
We know that from time to time, clients have paintings they wish
to sell. With this is mind, we thought that you should be aware
that we regularly handle clients' works on a consignment basis
at very reasonable commission rates. The following is our commission
rate schedule and our terms of consignment.
Painting's Retail Value........... Commission
Rate
$50,001 and above.....................10%
$40,001 to $50,000....................12½%
$30,001 to $40,000....................15%
$20,001 to $30,000....................17½%
$10,001 to $20,000....................20%
$10,000 and below.....................25%
Matthew Chase Ltd. requires that the consignment agreement be
for a period of at least six months. The consignor and Matthew
Chase Ltd. will agree to a list price, as well as a bottom line
net to consignor that the consignee will not sell below. The
consignee may, at its discretion, reduce its commission to make
a sale, but the consignor will in no event receive less than
the stated bottom line net. However, all offers that are below
the net bottom line will be brought to the consignor for his
consideration and approval.
Consigned merchandise in the hands of Matthew Chase Ltd. will
be insured for the bottom line net amount by consignee.
As you can see, our rates are competitive with auction houses
and you do not run the risk of a painting not selling and thus
being negatively exposed. Matthew Chase Ltd. would be most honored
to have your paintings entrusted to us. Know that we will diligently
work to realize the highest prices for your consignments.
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