Four Things to Know About the Nutty New Droit de Suite Bill Introduced in Congress Last Week

"On the surface, the Nadler-Kohl bill seems rational — it's a populist response to the corporate behemoths that rule the art world and give collectors in the 1 percent a platform on which to throw millions of dollars back and forth between one another. But the problem is that it goes too far and is likely to backfire. The tax is substantial enough to cause the auction houses to change their business model rather than pay it, and in the end it would serve to either line the pockets of the establishment while punishing struggling artists, or push even more of the auction market to Hong Kong."  [Read Full Article]

Published by:  Artinfo
On:  12/21/11
Website:  http://artinfo.com

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