A. Artist has created a work of art titled "A Tool to Deceive and Slaughter (2009)" ("the Artwork") which consists of a black box that places itself for sale on the auction website "eBay" (the "Auction Venue") every seven (7) days. The Artwork consists of the combination of the black box or cube, the electronics contained therein, and the concept that such a physical object "sells itself" every week.
B. Collector understands and agrees to the underlying concept and function of the Artwork and that the sale of the Artwork by Artist is dependent and conditioned upon Purchaser's agreement and adherence to the below terms. Such terms are fundamental and crucial to the on-going viability and artistic integrity of the Artwork.
WHEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed as follows:
1. Collector agrees that the Artwork will remain connected to a live Internet connection at all times, with disconnections allowed only for the transportation of the work from one venue to another.
2. Upon purchasing the Artwork, Collector may establish a new value for the Artwork. The new value may not exceed current market expectations for the Artwork based on the current value of work by the Artist. This value may be reassessed quarterly. This value will be set as the minimum bid of the auction. Any bid meeting or exceeding this amount will result in a legitimate sale via the Auction Venue and the Policies of the Auction Venue must be followed regarding this matter.
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