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Directive 2001/84/EC of the European Parliament and of the Council on the resale right for the benefit of the author of an original work of art was adopted on 27 September 2001 and published in the Official Journal of the European Communities on 13 October 2001: L272, Volume 44 (page 32). The journal can be accessed on the Europa website .
The Directive provides an artist with a right to receive a royalty based on the price obtained for any resale of an original work of art, subsequent to the first transfer by the artist. The right does not apply, however, to resales between individuals acting in their private capacity, without the participation of an art market professional; and to resales by persons acting in their private capacity to museums which are not for profit and are open to the public.
The threshold or minimum sale price above which the right must apply is EUR 3.000. The royalties are set at the following rates:
a) 4% for the portion of the sale price up to EUR 50.000;
b) 3% for the portion of the sale price from EUR 50.000,01 to 200.000;
c) 1% for the portion of the sale price from EUR 200.000,01 to 350.000
d) 0.5% for the portion of the sale price from exceeding EUR 350.00 to 500.000
e) 0.25% for the portion of the sale price exceeding EUR 500.000
The total amount of royalty payable is limited to EUR 12,500. All sale prices are net of tax.
The right will come into force for living artists on 1 January 2006. For those entitled to the royalty following artist’s death, the right will come into force not later than 1 January 2012. Artists will have a right to information, to enable them to collect the royalty, for up to three years following the resale.
Any queries or comments on this information note should be addressed to:
The Patent Office
13-15 Bouverie Street
Fax: + 44 (0)20 7596 6526/7
Tel: + 44 (0)20 7596 6533
|Last updated 06 June, 2005|