Document background
An Art Broker Agreement is a crucial document used in Hong Kong's thriving art market to formalize the relationship between professional art brokers and their clients. This agreement is essential when engaging a broker to facilitate the sale, purchase, or management of artworks, whether for private collectors, galleries, or institutional clients. The document addresses key aspects of the Hong Kong art market, including compliance with local regulations, anti-money laundering requirements, and international art trade practices. It typically includes detailed provisions for commission structures, service scope, due diligence requirements, and risk allocation, while considering Hong Kong's position as a major Asian art hub. The agreement is particularly important given the high-value nature of art transactions and the need for clear professional standards in the art market.
