Government plans to implement the European Union Directive on artists? resale rights is to be investigated by the London Assembly. The Directive, known as ?Droit de Suite?, secures a percentage of the value of re-sold works of art for the artist and is to be introduced in Britain from next January.
Approximately one quarter of the world?s modern art sales take place in London and the introduction of the Directive is likely to have a dramatic impact on auction houses and commercial galleries. The inquiry will focus on the potential loss of business to countries without re-sale levies such as the USA and Switzerland, the effect this will have on jobs and how the Directive will be implemented.
Published: 01-08-2005