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Artist resale rights, by sixftjellybaby on Jun 9, 2021 13:22:46 GMT 1, Really donโt know anything about Artist resale rights
How does it work and what pieces have it attached and how do I know if it has arr or not
Sorry for my ignorance
Really donโt know anything about Artist resale rights
How does it work and what pieces have it attached and how do I know if it has arr or not
Sorry for my ignorance
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Artist resale rights, by sixftjellybaby on Jun 9, 2021 14:59:57 GMT 1, so who pays it ,the seller or the buyer
and at what percentage etc
im thinking of selling my banksy cyw so around100k to150k
so who pays it ,the seller or the buyer
and at what percentage etc
im thinking of selling my banksy cyw so around100k to150k
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startimeash
Junior Member
๐จ๏ธ 1,296
๐๐ป 1,747
March 2019
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Artist resale rights, by startimeash on Jun 9, 2021 15:09:02 GMT 1, so who pays it ,the seller or the buyer and at what percentage etc im thinking of selling my banksy Choose Your Weapon so around100k to150k
Basically, 4% under 50k, 3% between 50k and 200k, then tapering down after that to 1%, 0.5%, 0.25% at various thresholds. It's paid by the buyer, and is cumulative, so for a 100k sale, you'd pay 4% on 49k (50k - 1k) + 3% on the next 50k (100k - 50k).
No such practice in the USA, so you'd pay nothing on a purchase there (believe that this is being looked at, though, but don't expect a change this century...)
so who pays it ,the seller or the buyer and at what percentage etc im thinking of selling my banksy Choose Your Weapon so around100k to150k Calculator here: www.dacs.org.uk/for-art-market-professionals/arr-royalty-calculatorBasically, 4% under 50k, 3% between 50k and 200k, then tapering down after that to 1%, 0.5%, 0.25% at various thresholds. It's paid by the buyer, and is cumulative, so for a 100k sale, you'd pay 4% on 49k (50k - 1k) + 3% on the next 50k (100k - 50k). No such practice in the USA, so you'd pay nothing on a purchase there (believe that this is being looked at, though, but don't expect a change this century...) |
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Artist resale rights, by sixftjellybaby on Jun 9, 2021 15:32:38 GMT 1, so who pays it ,the seller or the buyer and at what percentage etc im thinking of selling my banksy Choose Your Weapon so around100k to150k Calculator here:ย www.dacs.org.uk/for-art-market-professionals/arr-royalty-calculatorBasically, 4% under 50k, 3% between 50k and 200k, then tapering down after that to 1%, 0.5%, 0.25% at various thresholds. It's paid by the buyer, and is cumulative, so for a 100k sale, you'd pay 4% on 49k (50k - 1k) + 3% on the next 50k (100k - 50k). No such practice in the USA, so you'd pay nothing on a purchase there (believe that this is being looked at, though, but don't expect a change this century...)
Thanks so much, very very helpful
so who pays it ,the seller or the buyer and at what percentage etc im thinking of selling my banksy Choose Your Weapon so around100k to150k Calculator here:ย www.dacs.org.uk/for-art-market-professionals/arr-royalty-calculatorBasically, 4% under 50k, 3% between 50k and 200k, then tapering down after that to 1%, 0.5%, 0.25% at various thresholds. It's paid by the buyer, and is cumulative, so for a 100k sale, you'd pay 4% on 49k (50k - 1k) + 3% on the next 50k (100k - 50k). No such practice in the USA, so you'd pay nothing on a purchase there (believe that this is being looked at, though, but don't expect a change this century...) Thanks so much, very very helpful |
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iamzero
Full Member
๐จ๏ธ 9,190
๐๐ป 8,545
May 2011
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Artist resale rights, by iamzero on Jun 9, 2021 17:05:43 GMT 1, I saw that Castle Gallery has a Banksy print up for sale with ARR which I thought was odd?
I saw that Castle Gallery has a Banksy print up for sale with ARR which I thought was odd?
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Zippy
Junior Member
๐จ๏ธ 6,815
๐๐ป 2,639
April 2006
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Zippy
Junior Member
๐จ๏ธ 6,815
๐๐ป 2,639
April 2006
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Artist resale rights, by Zippy on Jun 9, 2021 17:34:27 GMT 1, I saw that Castle Gallery has a Banksy print up for sale with ARR which I thought was odd?
A dealer has to pay it.
I saw that Castle Gallery has a Banksy print up for sale with ARR which I thought was odd? A dealer has to pay it. |
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iamzero
Full Member
๐จ๏ธ 9,190
๐๐ป 8,545
May 2011
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Artist resale rights, by iamzero on Jun 9, 2021 19:18:42 GMT 1, Thanks for the info dude. I thought that it only applies to auction housesโฆ every day is a school day.
Thanks for the info dude. I thought that it only applies to auction housesโฆ every day is a school day.
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Raph
New Member
๐จ๏ธ 103
๐๐ป 95
August 2020
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Artist resale rights, by Raph on Jun 9, 2021 19:32:23 GMT 1, For those interested, conditions are a bit different in France but are similar :
www.adagp.fr/fr/utilisateur/droit-de-suite
(sales higher than 750โฌ, unless it has been acquired within three years directly from the artist - in that case it only applies from 10kโฌ)
For those interested in an european perspective : eur-lex.europa.eu/legal-content/FR/TXT/?uri=LEGISSUM%3Al26049
For the Us to my knowledge (i'm EU IP lawyer), it will depend on law of each state and it is not very widespread. I think California applies it, I don't know other state applying it. There was a project of federal law in 2015 but don't know the result of discussion..
For those interested, conditions are a bit different in France but are similar : www.adagp.fr/fr/utilisateur/droit-de-suite(sales higher than 750โฌ, unless it has been acquired within three years directly from the artist - in that case it only applies from 10kโฌ) For those interested in an european perspective : eur-lex.europa.eu/legal-content/FR/TXT/?uri=LEGISSUM%3Al26049For the Us to my knowledge (i'm EU IP lawyer), it will depend on law of each state and it is not very widespread. I think California applies it, I don't know other state applying it. There was a project of federal law in 2015 but don't know the result of discussion.. |
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LJCal
Junior Member
๐จ๏ธ 2,983
๐๐ป 4,523
December 2019
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Artist resale rights, by LJCal on Jun 9, 2021 20:18:53 GMT 1, You only have to charge ARR if you are a gallery, auction house or professional dealer. Collectors selling on work do not need to charge buyers ARR when they resell.
You only have to charge ARR if you are a gallery, auction house or professional dealer. Collectors selling on work do not need to charge buyers ARR when they resell.
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