Art dealers claim droit de suite levy threatens London's art trade

"'Our argument is the same as the chancellor's against the European plan for financial transaction tax,' said Anthony Browne, chairman of the British Art Market Federation, representing some 10,000 art business in the UK, and which is vehemently opposed to ARR [Art Resale Rights]. 'If [ARR] existed worldwide, you'd have a level playing field. But it doesn't.' Droit de suite – which translates as 'the right to follow' – was introduced in France to help families of artists after the first world war and is operational in most EU countries.

It was implemented to 'harmonise' art markets in Europe. But with London as the main modern and contemporary fine art European capital with 58% of trade, the UK cried foul, warning it would be disproportionately damaged."  [Read Full Article]

Published by:  The Guardian
On:  12/22/11
Website:  http://www.guardian.co.uk

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