Encyclopedia of Law and Economics

2019 Edition
| Editors: Alain Marciano, Giovanni Battista Ramello

Droit de Suite

  • Nathalie MoureauEmail author
Reference work entry
DOI: https://doi.org/10.1007/978-1-4614-7753-2_7

Abstract

Resale right consists of a small percentage of the resale price that art market professionals pay to artists at each resale of their works with the involvement of an auction house, gallery, or dealer. Until the new millennium, the resale right was implemented in a small number of countries. In 2014, more than 70 countries have resale rights. The United States, which has been very reluctant toward the adoption of the resale rights, seems to have changed its mind very recently. The debate about the opportunity to implement a resale right is commonly structured around two main axes. The first discusses whether or not visual artists profit from the resale right. The second deals with distortions of trade and competition within different countries that this right could create. While numerous governmental reports and academic research studies concern these two axes, focusing on the effects and consequences of the implementation of a resale right, fewer works deal with its economic rationale.

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Authors and Affiliations

  1. 1.Université Paul-Valéry MONTPELLIER 3MontpellierFrance