We aim to provide a smooth transaction process for both you, the artist, and the buyer. This article covers how artist payouts work on Cohart, and what happens to the payment after your sale.
Head over to this article to learn more about What happens after I have made a sale?
Payout options
Once the buyer has paid and we have all the information needed from you to complete the payout, you should expect us to initiate your payment within 1-2 business days. Right now, we process payouts via US or international bank transfer.
For the initial bank transfer, you’ll need to fill out either a W-8 or W-9 depending on where you’re located. We’ll ask you for everything we need after the buyer purchases your artwork, and we’ll keep this information on file so future bank transfers will be even quicker.
Shipping
For shipping orders, payouts can take 5-7 days because we require time to organize all shipment materials.
Pickup/Drop-off
When you receive a pick-up order, we’ll collect your banking details and tax forms. We send your payouts within 1-2 business days to ensure you get paid quickly and efficiently.
The exact timing of when the funds appear in your account will depend on your bank's processing times.
Here are some frequently asked questions about artist payouts
Does Cohart collect sales tax?
Yes, we collect sales tax or VAT based on the buyer's location and remit these taxes ourselves. At the end of the fiscal year, artists are responsible for their individual income tax obligations. We support this process by providing the necessary tax forms, such as W8 or W9.
What if I'm exempt from sales tax?
Regardless of an artist's tax status, we collect sales tax or VAT based on the buyer's location and handle the remittance. Artists remain responsible for their individual income tax obligations at the end of the fiscal year. We'll provide the necessary tax forms (W8 or W9) to assist with this process.
Is the shipping fee taken out of my payout?
No, the buyer covers the shipping cost at checkout (if any). Learn more about fees.
Does the buyer also pay for packing?
No, as the seller, you are responsible for packing the artwork and covering any associated costs.
We recommend factoring the cost of custom packaging into the final price of the artwork. You can include an itemized breakdown on the invoice, clearly noting that the price includes packaging. This ensures transparency and gives the buyer visibility into the costs.
Alternatively, you can add a rough estimate of packaging costs to the artwork’s total price and mention that it covers custom packing.