Thanks for the email. I appreciate your view but in this case the artist is definitely being exploited. Dealers are denying the artist the success and recognition she deserves while she is alive because they want to profit from her once she is dead. I also don’t think that you can compare a mass produced car to an original work of art. Ford doesn’t need to be paid on resale because he sold millions of cars to begin with.

Nicholas Forrest
artmarketblog.com

Thanks for the reply. This story actually came out of a discussion on the resale royalty. Yes, the artist will get the resale royalty but a small percentage of the resale price is hardly the same as receiving appropriate recognition and fame for your work.

Nicholas Forrest
artmarketblog.com

Even with some very interesting peculiarities, in general the art market functions in the same way other market functions. Cars made by Fod during the 50′s today are sold for a price sometimes 500% higher than its original price. Do you think Ford deserves to be paid everytime the car is sold from a person to a nother?

The Additional Premium payable will be a percentage of the amount of the Hammer Price and will not is capped at €12,500

From €0 to €50,000 the artist will recieve 4% of the sale price
From €50,000.01 to €200,000 3%
From €200,000.01 to €350,000 1%
From €350,000.01 to €500,000 0.5%
Exceeding €500,000 0.25%

remember it’s a business, and sometimes you can’t always be sentimental about it.

Nicholas Forrest