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DDS Artist's Resale Right

The following translation is for courtesy purposes only. For any inconsistency, the Italian version shall prevail. IMPORTANT NOTICES

DDS: ARTIST'S RESALE RIGHT (“Droit de Suite”) Dlgs n.118 del 13/2/2006 Starting April 9, 2006, Italy has applied the Artist's Resale Right, which is a right granted to the artists (still alive or deceased less that 70 years ago) or to their heirs, to receive a fee on the resale of their works of figurative arts and manuscripts. Resale royalties will be charged to the Seller where the hammer price is 3.000,00 Euro or more. The artist’s remuneration is calculated on a percentage of the net sales price, and it is calculated as below:


  4%   for the portion of sale price up to 50.000,00 Euro
 
  3%   for the portion of sale price between 50.000,01 and 200.000,00 Euro
 
  1%   for the portion of sale price between 200.000,01 and 350.000,00 Euro
 
  0,5%   for the portion of sale price between 350.000,01 and 500.000,00 Euro
 
  0,25%   for the portion of sale price above 500.000,00 Euro
 

The total remuneration cannot exceed 12.500,00 Euro for each lot.
Once Meeting Art Spa receives the Artist's Resale Right from the Seller, the amount will be deposited to the SIAE (Società Italiana Autori e Editori).


For further information please contact Casa delle Aste Meeting Art S.p.A. Corso Adda,
7-11 - 13100 Vercelli T. +39 0161 2291 | F. +39 0161 229327

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