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| Author: | Banternghansa, C. Graddy, K. |
| Title: | The impact of the Droit de Suite in the UK: an empirical analysis |
| Journal: | Journal of Cultural Economics
2011 : VOL. 35:2, p. 81-100 |
| Index terms: | arts auctions markets rights issues legislation France Germany Switzerland United Kingdom USA |
| Freeterms: | royalties |
| Language: | eng |
| Abstract: | The Artists' Resale Rights (or Droit de Suite, DDS) provides an artist with the inalienable right to receive a royalty based on the resale price of an original work of art. This paper offers an empirical analysis of actual changes in the U.K. auction market for art newly subject to the DDS due to a legal change. All changes are measured relative to changes i) for art not subject to the DDS and ii) in the art auction markets in countries without any legal change. Performed is a difference-in-difference analysis, differencing price growth and sales growth across market segments and across countries from 1993 to 2007. It is found that the DDS introduction has not had a consistent negative impact on the U.K. art auction market during the studied period. |
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