In ATG’s coverage of Brexit in the past year, we regularly asked which EU-inspired law we could most live without. Unanimously the response was Artist’s Resale Right, a royalty on the resale of art hammered above €1000.
As the practical process of Brexit began last week, we ask what chance this law (officially the Artist Resale Right Regulations 2006), which has caused so much red tape for auctioneers and dealers alike since its debut, could be amended or even ditched?
As government announced a Great Repeal Bill was on its way, trade bodies and art market professionals told ATG they are working on arguments to have ARR and other laws looked at on the trade’s behalf.