Payment for Buy Now and Make Offer

Important note: As of September 1st 2021, all eligible partners must enable Stripe. For assistance in setting up Stripe, review Getting Started With Buy Now and Make Offer or reach out to the Partner Support team at partnersupport@artsy.net.

This article provides answers common questions on the payment process for Buy Now and Make Offer.

When and how do I receive payment?

Once you confirm an order or accept an offer in CMS, the client’s payment details are charged the full amount of sale, including the artwork price, shipping, and sales tax (if applicable). Stripe processes this payment and then immediately begins to remit the net amount—less the service fees—to your designated bank account. For your first sale made via Buy Now or Make Offer, you can expect the funds within 7 days, and then within 48 hours for all future sales.

To check the status of a payment, please log into your Stripe account for more details.

Note: If your artwork is sold with Artsy Shipping, the shipping payment will go to Artsy directly. To learn more about Artsy Shipping, review How Artsy Shipping Works. 

What fees are associated with Buy Now and Make Offer sales?

Sales made through our Buy Now and Make Offer selling options—Buy Now, Make Offer, and Make Offer in Inquiries—are subject to a service fee. The service fee applies to the artwork price (excluding shipping and applicable taxes) and varies based on your subscription level.

We encourage you to reach out to your Account Manager for more information. 

Which currencies can I use? 

Galleries can list works in USD, GBP, and Euro. Collectors will be charged in the currency you select.

Which currency will I be paid in?

Kindly note that the funds will be collected by Stripe in the currency listed on Artsy. For example, if the artwork list price is USD, the funds from the buyer will be collected in USD, regardless of where the buyer's card is domiciled. 

Once collected, Stripe will payout the funds in the currency denominated by your connected bank account. If your bank account is not domiciled in the same currency as the funds were collected, Stripe will convert the funds as needed based on their own conversion rates.

i.e. If the funds are collected in USD but your connected bank account is set to GBP, Stripe will convert USD to GBP using their current exchange rate and pay out the funds in GBP.

That said, Stripe does allow you to connect multiple bank accounts to a single account. If you chose to connect more than one bank account with multiple different currencies, Stripe will always opt to pay out funds without converting currencies where possible.

i.e. If the funds are collected USD and you have connected two bank accounts, one denominated in USD and one in GBP, Stripe will pay out your funds to your USD bank account rather than converting into GBP.  

Who do I send an invoice to?

Once the order is confirmed, the client’s payment is immediately charged, and you will both receive a confirmation email with all of the order details. If the collector requests an invoice, we kindly ask galleries to provide them with a commercial invoice via our Orders Team. If a gallery requires an invoice for a specific sale, they can download the "Order Summary" within the orders tab in CMS.

Do I receive client contact details?

When you receive an order or offer, you will see the client’s city, state, and country. Once an order or offer has been accepted, you will receive the buyer’s name, address, and phone number for shipping purposes. We do not provide email addresses per our privacy policy.

Can I add more than one bank account to Stripe?

We currently only allow one Stripe account per CMS and only one bank account per Stripe. Stripe might have some workarounds, in which case, I would recommend reaching out to Stripe directly. You can reach them here: https://stripe.com/contact.

I would recommend asking them if you can connect a second bank account to your Stripe account and then select the relevant bank account under that account per order. You may need to do this manually before accepting each sale, but Stripe is the best resource to assist with this further.