Terms & conditions

This document contains important information regarding your rights and obligations, as well as conditions, limitations, and exclusions that apply to you. Please read it carefully.

 

A Non-Resale Clause ("Clause") is applicable to all art sales conducted by THK Gallery (the "Gallery”), whether in person at the Gallery, at art fairs, online via the Gallery website, or through any Gallery and third party applications and platforms the Gallery uses to offer artworks for sale (collectively, the “Digital Platforms”).

 

The Gallery and the art buyer (hereinafter referred to as the "Collector") shall collectively be referred to as the "Parties."

 

•  The Collector hereby agrees that upon the purchase of any artwork from the Gallery, they shall not resell, transfer, assign, or otherwise dispose of the purchased artwork to any third party for a period of five (5) years from the date of purchase (the "Non-Resale Period").
• The Non-Resale Clause applies to the purchased artwork in its entirety 

 

• In the event that the Collector intends to sell or otherwise dispose of the purchased artwork after the expiration of the Non-Resale Period, the Collector shall provide written notice to the Gallery no less than thirty (30) days prior to the intended sale or disposal.
• The Gallery shall have a right of first refusal to purchase the artwork on the same terms and conditions offered by a bona fide third-party purchaser. The Gallery's right of first refusal shall be exercisable within fourteen (14) days of receiving the written notice from the Collector.
• If the Gallery exercises its right of first refusal, the Collector agrees to sell the artwork to the Gallery on the same terms and conditions as offered by the third-party purchaser. In such an event, the Collector shall not sell or dispose of the artwork to any other party without the Gallery's written consent.

 

• The Parties agree that a breach of this Clause may cause irreparable harm to the Gallery, and that monetary damages may not be an adequate remedy. Therefore, the Parties agree that in the event of a breach, the Gallery shall be entitled to seek injunctive relief, in addition to any other remedies available at law or in equity.
• In the event that the Gallery prevails in any action to enforce the terms of this Clause, the breaching Party shall be responsible for the Gallery's reasonable attorneys' fees and costs incurred in such action.

 

The Collector acknowledges and agrees to be bound by the Gallery Terms and Conditions, including the  Non-Resale Clause, and our Privacy Policy, which describes our practices for the collection and use of your personal information.

 

This Clause and all art sales conducted by the Gallery shall be governed by and construed in accordance with the laws of South Africa. Any disputes arising out of or in connection with this Clause and the art sales shall be subject to the exclusive jurisdiction of the courts located within South Africa.

 

This Clause constitutes the entire agreement between the Parties with respect to the Clause and supersedes all prior negotiations, understandings, and agreements, whether oral or written. The Parties hereto have acknowledged and agreed to this Clause as part of the Gallery's Terms and Conditions.

 

The Clause may be amended by the Gallery at our sole discretion. Any changes we make to our policy in the future will be posted on this page. Please check back frequently to see any updates or changes to our policy.

 

These Terms and Conditions were last updated on 22 July 2023.