New regulations give artists royalties from future sales

A law approved by the federal government at the weekend will allow artists to take a share of the sale price each time one of their artworks is sold to a new owner. The law comes into force this summer.

While prices for works by popular artists can often reach astronomical levels, the artist is rarely the main beneficiary, having sold the work for much less to the first owner when they were younger and less well-known. Under the new law, each time a work is sold to a new owner for more than €2,000, the artist will receive a percentage of the sale price, on a sliding scale, from 4% for the first sale to 0.25% of later sales.

“When a sculpture by Rik Poot is sold for €27,720, that would deliver resale rights worth €1,080 for the artist or the artist’s estate,” explained economy minister Kris Peeters. The rights remain applicable for 70 years after the death of the artist. All new sales will be recorded on a central register once the law comes into effect.

Photo: Horse and Rider by Rik Poot, which hangs in the Flemish parliament

©courtesy Flemish parliamnet