Background Information;
Art dealers will be familiar with Droit de Suite and the ongoing efforts to limit its effects on the UK and interntaional Art trade. To summarise: Legislation implementing the EU Directive on artists resale right (ARR) applied to the work of living artists came into force in the UK on 14 February 2006. From 1 January 2012, following the ending of the UK’s derogation, this will be extended to the heirs of artists who have died within 70 years of the date of the sale, provided that both the artist and heir(s) are of qualifying nationality. Dealers (and other art market professionals such as auction houses) are responsible, along with sellers, for paying ARR on all qualifying sales. The only exception is that works of art sold for €10,000 or less, which have been bought direct from the artist within the last 3 years before the sale, are not liable. Primary sales, i.e. sales direct from the artist, are not liable, nor are sales of work by non – EEA artists, (apart from artists from third countries operating ARR). Until January 2012, ARR has only been payable on all secondary sales of works by living artists who are EEA* nationals, (and artists who are nationals of countries which provide resale right protection to artists from EEA countries), which are sold for €1,000 or more in the EEA. From 1 January 2012, ARR will also be payable on all secondary sales in the EEA of artists who have died within 70 years of the date of sale provided that both artist and heir(s) are EEA (or third country) nationals and the sales price is €1000 or more. *The EEA (European Economic Area) is the EU + Iceland, Liechtenstein and Norway
Deborah Rhodes
Posted on November 25, 2011 by Editors
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