Living artists and the descendants of artists deceased within the last 70 years are entitled to receive a resale royalty each time their work is bought. The right applies only when the sale price reaches or exceeds the sterling equivalent of €1,000 and is calculated on a sliding scale.
Please note ARR is calculated in euros.
Auctioneers will apply current exchange rates.
Royalties are also capped so that the total amount of the royalty paid for any single sale of a work cannot exceed €12,500. ARR is exempt of VAT.
