A royalty is a payment made by one party to another that owns a particular asset. The subject of this form of payment is complicated and covers: patents, trademarks, copyrights, publishing, music, software, intellectual property, and lastly ART royalties.
Most all these royalty rights have clear guidelines of legal execution and definition. However, art royalties, “DROIT DE SUITE”, or the resale royalty of the payment upon the sale of artworks finds its interpretations different in or country to country, state to state and jurisdiction to jurisdiction. Because of these practice and argument for artistic benefit continues to be avoided.
This royalty payment applies to any art work graphic art such as ceramics, collage, drawings, arbitrary and complicated formulas, the engraving, glassworks, lithograph, paintings, photography, and sculpture. The eligibility of payment applies only if the artistic work is one of limited number and was artist authorized.
Full Art Catalog believes resale royalties are an economic benefit to the visual artist and or his or her heirs. Within the simple structure of our commission base 5% is collected to be passed on the original artist. The guidelines of this process will be simple, the royalty recovery only is collected on secondary sales, not original or primary art sales, and for the sale to have any impact for collection has to be over $1000 resale value. This “droit de suite” will not impact buyers or sellers, it comes directly from the 18% commission charge on any transaction. The discrimination of these royalties on visual artist must end and allow these individuals to participate on an equal playing field with others who dedicate their lives to the vision of creativity.