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Payments

When you sell an artwork, you will receive 65% of all profits. Saatchi Art handles the shipping logistics, and collectors pay for the cost of shipping, so you only have to worry about covering the costs of packaging materials. We offer secure payments by check, wire transfer or PayPal. For more information on all things pertaining to how our payments for the artists work, please continue reading below.

Our payments policy is a part of our Terms of Service. By uploading your artwork to Saatchi Art, you are agreeing to this policy and our Terms of Service. Please read and understand this document thoroughly as it is legally binding for all artists on Saatchi Art. This article will cover the following topics: 

 

 

REQUESTING AND RECEIVING PAYMENTS

In order to request a payment, the artist must first decide how they want to be paid. This method can be either check, bank wire transfer, or PayPal. These accounts must be valid and active in order to receive payment. This ensures that your payment request will not be declined and that you are paid as quickly as possible.

 

How To Set Up Payment Preparation:

Step 1: Upload your tax form – If you haven’t already done so, please upload a tax form to us online through your Upload Tax Form page. Before processing your payout request, we need a fully completed tax form.  We will issue payment towards the full legal name (not artist name) that is listed on the tax form we have in our records.

To download the proper tax form, please select the link that applies to you:

What tax form do U.S. Artists submit?
What tax form(s) do Non-U.S. Artists submit?

If you have further questions about taxes, please scroll down to browse the Taxes article.

Step 2: Choose a payment method – Your choices are: Check, PayPal, or Bank Wire Transfer. (Note that Western Union is no longer offered as a payment option.)

  • Check – To be drawn from a US bank (in Los Angeles, California) and paid in US dollars. If your bank is located outside of the United States, please contact them to inquire about foreign check deposit and conversion fees. There’s a possibility that bank fees may be higher and take longer to deposit than expected.
  • PayPal – To select this option, you must have an existing PayPal account. If possible, we highly suggest using PayPal to process your payout request.  We have found from past experience that PayPal is the fastest way to send funds to our artists. Additionally, Saatchi Art will incur all fees when transferring money from Saatchi Art to your PayPall account (Note: Saatchi Art will not cover conversion or bank fees in PayPal).
  • Bank Wire Transfer – Before choosing this option, we strongly advise you to contact your bank regarding incoming bank transfer, conversion, and shared bank fees so that you're aware of any additional expenses you may incur. There’s a possibility that these additional charges may actually exceed the profit from your sale, so we encourage you to make an informed decision.

Step 3: Confirm that your accounts are valid – Once you’ve chosen a payment method, you must confirm that your method is prepared to receive funds from Saatchi Art before your funds become available in your Sales Dashboard. This is to ensure that payments from Saatchi Art do not bounce or are rejected by your institution, account, or method of payment. 

 

How To Request a Payout:

After seven (7) days from the date of delivery and the collector is satisfied with the artwork, your payment will be available. We'll send you an email notification to let you know that your funds are ready for payout. To request payout, please log into your Saatchi Art account and go to your Sales Dashboard.

Step 1: From the Saatchi Art main menu, hover over your name and select Sales Dashboard from the drop down menu.

From your Sales Dashboard page, check your Sales history list to see whether your recent sale is listed as "Completed." If the sale is complete, your funds will be available for payout, and the Request Payout link will be visible. Again, please note that your funds will become available in your Sales Dashboard seven (7) days after the artwork has been delivered to the collector. You will be emailed once your sale status goes to "Completed" and it is time to request your payment.

Step 2: Click Request Payout to open the Request a Payout form. You will then select your chosen method of payment. 

The payment schedule is as follows and applies to Original Works, Limited Edition Works, and Open Edition Prints:

  • Payouts are typically fulfilled seven (7) to fourteen (14) calendar days from the date of your request. Checks may take longer to receive depending on the artist’s geographical location.
  • If you request payment by PayPal or Bank Wire Transfer, you should expect to see the money in your account fourteen (14) calendar days AFTER your Payout Request date.
  • Checks, however, may take longer than fourteen (14) days to arrive after your request date, depending on your geographical location.

 

Concerning multiple payouts at once:

At this time we don’t allow artists to request multiple payouts. If you've requested a payout for an earlier sale which is still "Pending," you must wait for that payout to be "Sent" before you may submit another request. 

However, if it's important that you remove your current payout request in order to submit another request for a larger amount, please contact us by submitting a form through this here

 

How To Check the Status of Your Payout:

Visit your Sales Dashboard to see the status of your artwork sales as well as the progress of your payout requests. For help understanding your Sales Dashboard and how to request a payout via check, bank wire, or PayPal, refer to the diagrams below and throughout this article.

 

PAYOUT METHODS

How To Request a Payout Via Check on the Sales Dashboard:

​Step 1: Once your payout has become available on your Sales Dashboard, the sale will be marked as "Completed" in the Status column. If your funds are available in your Sales Dashboard, the "Request Payout" link will be visible.



Step 2: Click "Request Payout" on the Sales Dashboard. Select the "Check" payment method.  


Step 3: Enter your shipping and contact information at the top and select Check from the Payment Method dropdown menu. Provide your legal name and the address where you will receive the check. Click submit.

Step 4: On the date when your check has been mailed, we will mark your funds as “Sent” and indicate the date in your Sales Dashboard. Until then, the payout status will be "Pending." See below for an example.


Although we expect most checks to arrive within seven (7) days after being sent out to you, delivery time will vary according to destination. To ensure that you safely receive your check, you or someone else should be present at your mailing address to regularly collect mail for at least fourteen (14) days from the date your check was sent

About Check Payments
Checks are drawn from a US bank in Los Angeles, California and paid in US dollars. For banks outside of the United States, please contact your bank as they will most likely charge a foreign check deposit fee and a conversion fee.  

 

How To Request a Payout Via Bank Wire on the Sales Dashboard:

Please note the following important information: 

  • Before requesting payment by bank wire transfer, please contact your bank regarding transfer/conversion/shared bank fees you might incur. 
  • At any time there is a wire transfer, from Saatchi Art's bank (US Bank) to the artist's bank (your bank) there is always a fee deducted. This fee is taken by the bank from both parties which is something that Saatchi Art does not have control over. Furthermore, depending on the relationship that our bank has with the artist's chosen bank, these banks would then dictate which intermediary bank to use when sending a wire transfer. Intermediary banks also charge a fee. 
  • There is a possibility that the bank fees will be higher than your commissions/royalties payout. Therefore, if your payout amount is less than $100, we will decline your bank wire request in order to prevent your payout from being completely wiped out by bank fees. We suggest waiting for your funds to reach $100 before requesting another bank wire transfer. If you'd like to receive your payment immediately, please request by PayPal instead.
  • Also, please note that a Wire Transfer is a different method from ACH (Also called Direct Deposit). At this time, we only accept Wire Transfer and we do not accept ACH. It is important to understand the difference -- if you provide your direct deposit information, your payment will be rejected by your bank. This will cause severe delays and complications. Please contact your local bank to understand your Wire Transfer account information before you select this option. 
  • Ensure that the full legal name of the owner of the bank account is the same as the full legal name of the artist on the tax form. If not, we will decline your payout by Bank Wire Transfer request. 

​Step 1: Once your payout has become available on your Sales Dashboard, the sale will be marked as "Completed" in the Status column. If your funds are available in your Sales Dashboard, the "Request Payout" link will be visible.

 
Step 2: Click "Request Payout" on the Sales Dashboard 

And select "Bank Wire Transfer"

Step 3:  Enter your contact information and select Bank Wire Transfer as your payment method. To ensure quick payment processing, please provide valid bank wire details in full within your payout request and NOT through email. When providing your bank wire details, please take note of the following:

  • Provide the details for your final destination bank, NOT an intermediary bank. That is, if your funds will first be transferred to an intermediary bank before being sent to your financial institution, please only give us the details for the final destination bank.
  • If you provide an IBAN, you must also provide a BIC/SWIFT code.
  • If you provide an Account Number, you must also provide a BIC/SWIFT code.
  • If you provide an IBAN, do not provide an Account Number, as this is incomplete information.
  • Note for UK artists: When requesting a Bank Wire Transfer, artists in the UK must provide an IBAN number along with a BIC/SWIFT code. Note that we no longer offer Western Union as a payment option.


​Step 4:
 You should receive funds in your bank account within fourteen (14) days after submitting your payout request. Please wait at least fourteen (14) days before inquiring about your payment.

NOTE: We advise that you contact your bank regarding transfer/conversion/shared bank fees you might incur before selecting the Bank Wire Transfer option. There is a possibility that the bank fees will be higher than your commissions/royalties payout.


Transferring Funds To Another Person's Bank Account

If you would like your funds to be transferred to an account owned by another family member, close relative, or legal guardian, we will require a copy of a tax form to be filled out by the account holder to whom the funds will be delivered. Once we have the proper tax form, we will be able to send funds directly to the chosen person’s account and not directly to the artist.


Artists from the United Kingdom

When requesting a Bank Wire Transfer, artists in the UK must provide an IBAN number along with a BIC/SWIFT code. Note that we no longer offer Western Union as a payment option. 

 

How To Request a Payout Via PayPal on the Sales Dashboard:

We highly encourage for our artists to select the method of payment to be through PayPal. You must already have a PayPal account before requesting this option. There are no fees applied to PayPal so you will receive the full amount displayed on your dashboard.* 

(*There are no fees on the transaction from Saatchi Art to your PayPal account. However, please keep in mind that PayPal may apply conversion fees or fees when you transfer from PayPal to your bank. This is a PayPal policy. Please contact PayPal for more information their transaction fees.)

  • Note: If you are an artist in Russia, PayPal may not be an option for you. We've had complications in the past with PayPal Russia restricting international payments. Please consult with your Payal account to confirm that you are able to receive international payments prior to you requesting your payout through your Sales Dashboard.)

Before requesting a payout on the Sales Dashboard, please ensure that your PayPal account is active and there are no restrictions placed on your account.  If there are restrictions on your account, contact PayPal immediately to address these issues to avoid any delays in receiving payment from Saatchi Art. Please also confirm that your email address connected to your PayPal account is up to date and free of spelling errors. 

​Step 1: Once your payout has become available on your Sales Dashboard, the sale will be marked as "Completed" in the Status column. If your funds are available in your Sales Dashboard, the "Request Payout" link will be visible.

Step 2: Click "Request Payout" on the Sales Dashboard 


Step 3: On the "Request Payout" form, enter your most up-to-date contact information. Next, Select PayPal from the Payment Method dropdown menu. 
Step 4: Provide your PayPal email address in both of the fields. Be certain to review your email for any misspellings. Click submit.

It's very important to note that we only accept PayPal email addresses. If you send a PayPal URL or Link, your payment will be rejected.