The impact of the Droit de Suite in the UK: an empirical analysis

The impact of the Droit de Suite in the UK: an empirical analysis 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. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Cultural Economics Springer Journals

The impact of the Droit de Suite in the UK: an empirical analysis

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Publisher
Springer Journals
Copyright
Copyright © 2010 by Springer Science+Business Media, LLC.
Subject
Economics; Cultural Economics; Microeconomics; Economic Policy; Arts; Music; Regional and Cultural Studies
ISSN
0885-2545
eISSN
1573-6997
DOI
10.1007/s10824-010-9134-y
Publisher site
See Article on Publisher Site

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.

Journal

Journal of Cultural EconomicsSpringer Journals

Published: Dec 28, 2010

References

  • Failure to meet the reserve price: The impact on the returns to art
    Beggs, A; Graddy, K
  • Anchoring effects: Evidence from art auctions
    Beggs, A; Graddy, K

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