PAINTED ASSETS™ is a service created by Shaz Hunter, visual artist better known as Shaz Taylor, owner of Shaz Design Studio LLC. This service is an optional resale service for the original artworks painted by the artist, Shaz Taylor. It will provide the opportunity for collectors to resale their original artwork for profit. The proceeds profited from the paintings sold though the PAINTED ASSETS™ program are left to the sole discretion of the owner of the original artwork. If the buyer has a piece of artwork and chooses to participate in the program, they may submit the artwork for resale. Shaz Design Studio LLC (SDS) will serve them by reselling the artwork for them at no cost to the owner of the art. SDS will make all arrangements for the art to be picked up, packaged and shipped to the new buyer completely free of charge. This service will split the proceeds of the sale by 50% with the previous owner of the artwork. For example, if owner A would like to resale Artwork X and the cost of the art was $1,000, SDS will attempt to resell the artwork for $5,000 and split the proceeds of Artwork X with owner A. Owner A will then receive $2,500 profit. Owner A has the option to either receive the funds paid in full or they may opt to re-invest into the purchase of another artwork. If they choose to re-invest, this credit comes with a one time bonus of $500 and will be a credit that will apply to any art available for sale. If owner A chooses to reinvest the profits credited from the sold artwork within 30 days from the date of sale, they will have a bonus of $1000 applied to their account. During this 30 day period, the funds will be available as a credit to apply to new artwork and must be used to unlock the $1000 bonus. If 30 days have passed, the bonus will only be $500. The owner has every right to cash out at any time. The owner must request to cash out in writing. Cash will be disbursed within 60 days if the credit has exceeded 30 days past the sale of the artwork. If owner A chooses to keep the profits and cash out immediately after a sale is closed, funds will be released once the artwork is securely picked up from owner A and accepted by owner B. This service will also be available to owner B, and continue indefinitely.
- Art work must be in excellent condition and must be an original work of art.
- Must provide proof of purchase with a copy of the sales receipt.
- Must have the original certificate of authenticity with a wet signature and dated by the artist Shaz Taylor.
- Must be a collector. A collector is a buyer who owns two or more original paintings
- Photograph of the artwork in its current condition on the date of submission.
- Replicas of any form
- Prints : Canvas prints or Giclee prints, prints on any surface do not qualify.
- Embellished Prints
HOW TO SUBMIT
Complete the PAINTED ASSETS™ submission form to check your (the seller) eligibility. A valid credit card must be on file for your artwork to be released for resale on the market place. Once your artwork has been approved, the artwork will be released into the marketplace. In the event your artwork has been sold, you will be notified in writing and with a courtesy phone call upon closing of the sale. A hold will be placed on the seller’s credit card on file until the art has been secured by SDS for shipment. You must schedule a pickup within 5-10 business days of the sale. Once the art is picked up, the hold will be released. Please note: if the pickup is not scheduled within this time frame, the sale will be canceled and the seller will be charged a service fee of 10% of the resale value of the artwork. After SDS has secured the art in the pending sale, the seller must notify SDS if they want a credit towards new art (and take advantage of the bonus benefits). Or, if they would like to cash out and receive the 50% proceeds from the sale into their account.
HOW TO PREPARE YOUR ART ONCE IT IS SOLD
- Store the artwork with the original certificate of authenticity in a space leaving ample room for it to be safely packaged for shipment.
- An adult over the age of 18 with a valid government ID must be available the day of your scheduled pick up.
- The shipping box that SDS will ship to the address on file.
- Does commissioned work qualify?
- Submit the art and it will be reviewed by the artist on a case by case basis.
- What if my original artwork has been damaged?
- Damaged artwork may not be resold without repair.
- Please submit artwork for a repair and a repair estimate will be issued to you. Once the artwork is repaired then it will become eligible for resale pending it is repairable.
- What if I don’t have my certificate of authenticity?
- We may be able to help. Please contact Shaz or SDS representatives for assistance.
- What if I don’t have my original sales receipt?
- We may be able to help. Please contact Shaz or SDS for assistance.
- What if I received the artwork as a gift, is it still eligible?
- Yes. You must provide the following to resale gifted art:
- The full name of the individual who purchased the gift,
- The ownership transfer certificate
- Copy of the gift receipt, and
- the certificate of authenticity.
- What if an owner dies?
- In the unfortunate event that the owner of the artwork dies, their beneficiary next of kin will become the owner of the artwork. In order to become eligible to resale the art, a government issued ID and death records will be required to participate with the PAINTED ASSETS™ services. A new ownership agreement will be issued upon approval to the new owner.
- What if I have the certificate of authenticity and the art but I purchased your art from the owner independently?
- Unfortunately, art sold or acquired independently is not eligible to participate in PAINTED ASSETS™.
- What if I want to gift the art to someone else, will the gifter be eligible?
- Yes, please provide the full name of the recipient as it appears on their government issued ID so it may be placed on the receipt. An ownership transfer certificate will be provided to you with your receipt. Give them the ownership transfer certificate. Both signatures must be on the certificate for it to be validated. If the receiver does not sign the ownership transfer certificate, the name on the original sales receipt (the gifter) is still the rightful owner of the artwork. Provide them with the art, along with the certificate of authenticity.
- What if my artwork does not sell?
- There is no guarantee that the artwork will sell. Once submitted, the art will go to market upon approval and it may sell immediately or it could take several months or even years to sell.
- Why am I being contacted about my art? I never submitted my artwork for resale.
- This means your piece is in high demand. You can take the offer of the potential earnings or you may keep your artwork to grow your assets. The other option is to accept the earnings, and Shaz will offer to paint you a new artwork inspired by the previous piece. Your earnings can be a deposit towards a new artwork. The choice is yours to make, and you have options.
- How soon may I submit my artwork for resale?
- Once purchased, you must keep your artwork for at least two years from the date of sale to participate in PAINTED ASSETS™.
- I only own one painting, do I qualify?
- You only qualify when you become a collector. Once you own a second artwork, your first purchase will immediately become eligible for Painted Assets ™.
- My artwork was never issued a certificate of authenticity or a sales receipt, how do I submit my artwork?
- Contact Shaz directly for assistance.
Any original artwork sold before the launch of the PAINTED ASSETS™ services will be provided with a new certificate of authenticity. We are in the process of creating them and upon receiving them you may destroy your old one. You will also receive a copy electronically. Artwork purchased before Jan 11, 2023 will receive the new certificate within 6 months.
PAINTED ASSETS ™ is an optional service provided by Shaz Design Studio LLC. However, its sole purpose is to provide you (buyers & collectors) opportunities to build generational wealth for yourself, your family, your community and/or causes about which you care most. Shaz Taylor is the only visual artist that supports her collectors and gives back to them the same way they supported her artwork. It is her mission to generate wealth within the Black community and close the catastrophic wealth gap that exists within our community due to systematic racism and oppression. Her goal is to assist in changing generations to come one painting at a time. Please join her in this mission and share her work with family and friends so they may have the opportunity to possess assets through artwork. We are stronger together; and TOGETHER WE CAN make changes that will impact our future for Black and Brown people worldwide.