RIP, American Royalties Too Act

by Whitney Kimball on January 13, 2015 Newswire + Obituary


Another proposal for artist resale royalties died this week when the American Royalties Too (ART) Act was quietly omitted in Congress, reports the Art Law Report.

The act would’ve given artists 5% of the sale of their artworks or $35,000. We weren’t expecting a great success here; chances were already slim even before auction houses spent at least a million dollars lobbying against it.  Main complaints included the fact that this would only favor bestselling artists and it only applied to auction houses.

Altruistic collectors can always sign an NRR (Negotiated Resale Royalties) contract.

The Foreign Cultural Exchange Jurisdictional Immunity Clarification Act, which would clarify two contradictory laws that make it difficult to retrieve Nazi-looted artworks, also died.

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