Auction Houses Gear Up to Fight Proposed Artist Royalty Act

March 24th, 2014

The upcoming vote on an artist resale royalty in the United States has major auction houses sending high-powered lobbyists to Washington, in an attempt to prevent the bill from passing.  The bill, which would pay artists a percentage of any auction sale, has many resellers nervous over the ostensible impact the additional charges would have on growing sale prices, while advocates are pushing the bill’s inclusion of artists in the creation of new wealth.  “To me, the bill is a question of fundamental fairness,” says Representative Jerrold Nadler (D-NY), who introduced the bill.Read more at New York Times