That's big! Congratulations! 

As are you irl1. It was a pleasure. 

Hope to see you back on FairArt soon 

Interesting read.  I never realised you were so young!  

Hope FairArt is a great success and continues for many years to come.  

lol

Only in Russia!!!

www.leagueoto.com/features/2023/3/13/art-of-disruption-fairart

Hats off to both of you, thank you    

still not signed up.

Anywhere we can see what's been sold recently ?

...to provide an idea of how it's actually going in terms of where people are , how transactions are working...

in general , health ... versus unhealthy.

trust is not easy thing to put your finger on.

Anyone who's used FA with gusto and progress , feel free to pm.

atb

..

Thank you for the question jeeves. We want people to be engaged with and challenge the concept of royalties in this way.

I don’t think you’re alone in thinking this and I understand why collectors may be reluctant to give more away on a loss-making sale. This is exactly why it is a priority for FairArt to ensure that the inclusion of royalties does not create an additional burden in fees to sellers. Despite our royalties, sellers are ‘giving away’ just as much as they would with one of our competitors, whether the sale is for a loss or not.

Regarding a system in which royalties are not paid out on loss-making sales, there a number of reasons why we don’t think this is the right way forward:

• It would be logistically challenging to enforce and cause an unintended drag on prices that would disadvantage both collector and artist.
• This approach would equate collecting with investing, and place undue pressure on an artist to realise some form of financial appreciation for their collectors, which could restrict their desire to take creative risks in their work.
• It does not seem right that after purchasing a work from an artist, they should feel like they ‘owe’ you something. This is something that is more suited to NFTs, which are centred on the idea of community and continued ‘holder’ benefits.
• I think most would agree that when an artist’s market depreciates, it is rarely down to a lack of work or effort. More often than not, they fall victims to speculation on secondary markets that artificially inflate prices for a short period - something that they have little to no control over. If anything, these are the artists that need additional support.

We strongly believe in royalties, but we appreciate that they may not be for everyone. For these collectors, we hope that FairArt brings other benefits in the form of transparency, convenience and affordability.

Cheers,
Nick

Have purchased. Items 100% 

Packed very well would buy again for sure 

Hello everyone,

We’ve got another new feature announcement.

Once again, this has been added in response to your feedback, so please keep it coming!

You can now ‘follow’ your favourite artist(s) and be updated on any new listing, offer or sale of their work on FairArt.

You can also now add artworks to a ‘watchlist’ to ensure you never miss a sale or change in price again.

You can see how it works in the video below.

Cheers, 

Nick

Ooh, and it's so icky how they try and "steal" business away from other businesses. It's almost like they think that the whole business world is just one big competition for limited resources.

It's kind of funny that they advertise the royalties as their added value and then giving them less than the 4% that are stated in UK implementation (www.gov.uk/guidance/artists-resale-right) for everything between 1k and 50k. I quote the official document:

"Authors of original works of art are entitled to a royalty each time one of their works is resold through an art market professional."

"ARR derives from a European Directive and came into force in the UK in 2006. The right only applies when the sale price reaches or exceeds the sterling equivalent of €1,000 and is calculated on a sliding scale."

"Royalty Resale price
4% up to €50,000"

For completeness, this is what fair art writes about their fees: www.fairart.io/how-it-works/fees

"We charge a 3% artist royalty."

But maybe they don't consider themselves art market professionals. Who knows.

So simply put you don’t consider yourself an art market professional.

I can see the benefit of reach and also trust in the authenticity of a piece over someplace like ebay.  My bigger question is how does the artist actually get paid?  Do they have to ask for it? Do they proactively pay it out? What about a dead artist or the estate of a dead artists? Is there an audit trail is their proof of payments to artists?  If it is request based what it the time limit before the cash rolls into their pockets?  What % of the 3% for artists has actually made it to artists vs how much has rolled back in the the corporation?  I fully understand the goal but do the artists know about this and are they actually seeing the cash and payments? At 3% on a $1000 pice that is $30.  There is a lot of over head in cutting a check communicating with an artist, postage, wire transfers what not.  Where do those expenses get covered from the artists portion or from the companies 6%?