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Royalties to Artists

Posted By Administration, Wednesday, December 21, 2011
Updated: Tuesday, December 17, 2013

Proposed 7% Royalty Payment in Droit de Suite Bill Introduced to Congress

Last week the US Congress proposed legislation that would give a portion of resales back to artists and museums. As with the music and film industry the concept of royalty payments would apply. Works sold at major auction houses that exceeded $10,000 would be subject to a 7% royalty split between artists and museums. The proposal is part of the 2011 Equity for Visual Artists Act and was proposed by New York Democrat Jerrold Nadler in the House and Wisconsin Democrat Herb Kohl in the Senate. As the law stands the proposal would exclude online and private gallery resales.

For more on this story please visit The Art Newspaper

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