As the art market evolves with new and emerging technology such as NFTs, we must ensure that we protect the rights of artists through mechanisms such as the artist’s resale right – payments that, crucially, support artists’ ongoing practice and livelihoods, and ensure they have a continuing stake in the increasing value of their work.
While some in the global art market feel that there is a “royalty system missing from the physical art world, where artists often feel as if they have been shafted when their work is resold on the secondary market” (‘I went from having to borrow money to making $4m in a day’: how NFTs are shaking up the art world, 6 November), forms of the artist’s resale right law have existed in parts of Europe since the beginning of the 20th century. Its origins date back to the experience of the family of the French artist Jean-Francois Millet (1814-75), who were living in poverty following his death while his works sold for vast sums.
Since 2006, the Design and Artists Copyright Society (DACS) has paid out over £100m in artist’s resale rights to artists and their estates – a royalty payment for paintings, sculptures and photographs that are resold on the art market. The question now is, how do we ensure that artists’ rights are maintained for artworks including NFTs? How, as a society that values creativity, do we guarantee that artists working in new technology are protected?
Gilane Tawadros
Chief executive, DACS
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