DETAILS OF ARTIST'S RESALE RIGHT ANNOUNCED


The Independent reports that the Patent Office has announced exactly how the new artist’s resale right will work. The resale right implements the EU Directive and will come into force for living artists in January 2006. Heirs of deceased artists won’t benefit until 2010.

Under the new regime, artists will benefit when any work is sold for over 1,000 euros (approximately £680). Generally, the royalty payable will be 4% of the sale price, but this amount reduces where a work is sold for over £50,000. The maximum payable royalty is capped at £12,500.

Although auction houses have expressed unhappiness at the system, arguing that it will encourage art-sellers to put their works on offer in Switzerland and the US, artists are welcoming the development. In particular, the 1,000 euro starting point has been praised since it will allow less popular artists to benefit. It was previously feared that a 3,000 euro starting point would be imposed.

The IPKat echoes the sentiment expressed by DACS, that the introduction of the droite de suite is fair, since it allows artists to gain royalties upon the sale of their works, like authors and musicians do.
DETAILS OF ARTIST'S RESALE RIGHT ANNOUNCED DETAILS OF ARTIST'S RESALE RIGHT ANNOUNCED Reviewed by Anonymous on Saturday, December 17, 2005 Rating: 5

2 comments:

  1. Er, one half of the IPKat might be echoing the sentiments expressed by DACS - but the other is most sceptical. The scheme is nothing like royalties, since it's a tax on the resale of a chattel; it's not an intellectual property right at all. Is there really no better way to benefit artists - particularly those who are alive and need financial support - than this?

    ReplyDelete
  2. Jonathan Thurgood recommends this link on the subject
    http://eureferendum.blogspot.com/2005/12/its-our-old-friend-droit-de-suite.html

    ReplyDelete

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