Art Show – How the System Works What key details should non-Canadian artists be aware of?
All transactions in the art show will be conducted in Canadian currency. When pricing your art, (both for the art show and Canadian Customs) please remember that the figures must be listed in Canadian dollars. Example: on April 1, 2003 the exchange rate was $1US = $1.475 CDN; however please keep in mind this rate can and does fluctuate. The Canadian government requires a 7% Goods and Services Tax (GST) be charged on all transactions (see below for details). This also has implications for the pricing of art at the Torcon 3 art show. Example: If you want to set a minimum bid of $60.00 US for a piece, the equivalent minimum bid in Canadian dollars would be in the $90.00 range. For the typical art show, the calculation is a piece that sells for $100.00 Canadian minus 10% commission ($10) will net the artist $90.00 Canadian. To arrive at a similar return at Torcon 3, taking into consideration the impact of the GST on sales, the minimum bid for this same piece must be priced at $110.00 Canad
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- Art Show - How the System Works What key details should non-Canadian artists be aware of?
