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In this video tutorial, the speaker discusses the significance of contracts and agreements in the art world, particularly when collaborating with galleries. While the use of contracts is essential for ensuring a secure and professional relationship between artists and galleries, they remain uncommon due to a mutual aversion to administrative tasks. The speaker emphasizes that the relationship between artists and galleries often extends beyond mere business, rooted in friendship, trust, and loyalty. However, it is crucial for artists to understand the foundational aspects of these relationships before committing to collaboration, highlighting the need for clarity and protection through formal agreements.