Artist's Resale Right royalties distributed in first quarter of 2023
© Brian Benson
London, 31 May 2023: £2,313,297 million was paid to 873 artists and artists’ estates in Artist’s Resale Right (ARR) royalties from January to March in 2023 by DACS.
As the second largest art market in the world, ARR plays a significant role in the UK’s art world eco-system, enabling galleries, auction houses and art dealers to contribute directly to artists and their ongoing practice.
Key figures for the first quarter of 2023 include:
- Over 60% of all ARR royalties paid out were under £500. For almost two thirds of ARR-qualifying transactions, the work sold on the secondary market for a maximum of £12,500.
- Median ARR payment for artists and estates was £280. A high volume of sales take place just above the ARR threshold value of £875 (€1,000).
- 53 artists were paid an Artist’s Resale Right royalty for the first time indicating that their works recently started selling above the threshold on the secondary market.
- £120 million has been paid in total to over 5900 artists and estates since 2006, when the right became UK law.
Artist’s Resale Right is a vital source of income for artists working in the UK today, providing them with an ongoing stake in the increasing value of their work. We know from our members how important these payments are to artists who use their royalties for living expenses, materials, and studio space – helping sustain their practice. Estates often use the money for cataloguing, archiving and restoration – making sure that the legacies of British artists are preserved for future generations. We very much welcome the confirmation from the Government that the right will remain in UK law and not fall victim to the REUL Bill.
DACS Chief Executive
