Business, Innovation and Skills written question – answered at on 1 November 2011.
To ask the Secretary of State for Business, Innovation and Skills whether he proposes that the Artist's Resale Right will be extended to the estates of deceased artists from 1 January 2012; and what assessment he has made of the monetary value to such estates of such an extension.
The Artist's Resale Right (ARR) Directive was agreed in 2001, and implemented through UK law in 2006. Under the terms of the directive, the UK was able to delay the full implementation of the right (payments on the sales of works by deceased artists) until 2012. Without reopening the directive, there is no option to delay full implementation beyond that date.
An evaluation of the effect of extending the ARR to estates of deceased artists can be found on the independent study commissioned by the Government “Study into the effect of the UK art market of the introduction of the artist's resale right 2008”, which forecasts resale right payments to increase fourfold when payments to deceased artists commence in 2012. This is expected to reach some £12 million a year in a market with an annual turnover of around £8 billion.
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