The impact of the <Emphasis Type="Italic">Droit de Suite</Emphasis> in the UK: an empirical analysis |
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| Authors: | Chanont Banternghansa Kathryn Graddy |
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| Institution: | (1) University of Chicago, Chicago, IL, USA;(2) Brandeis University, Waltham, MA, USA;; |
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| Abstract: | The Droit de Suite, known in the UK as Artists’ Resale Rights, provides an artist with the inalienable right to receive a royalty based on the
resale price of an original work of art. This paper provides an empirical analysis of actual changes in the UK auction market
for art that is newly subject to the Droit de Suite (DDS) because of a change in law. All changes are measured relative to changes for art not subject to the DDS and relative
to changes in the auction markets for art in countries where there has been no change in law. We do a difference-in-difference
analysis, differencing price growth and sales growth across market segments and across countries over the period 1993–2007.
Our results suggest that the introduction of the DDS has not had a consistent negative impact on the UK art auction market
during the period of study. |
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