Op-Ed on artnet.com
The Recent Sale of Amy Sherald’s ‘Welfare Queen’ Symbolizes the Urgent Need for Resale Royalties and Economic Equity for Artists
There are creative ways that collectors, auction houses, and artists can collaborate to build a system of “resale equity.”
From the article:
“We propose a system of ‘resale equity’ in which works like [Amy] Sherald’s Welfare Queen could go to auction with flexible and elective resale-royalty provisions. Sellers could agree to return some portion of the proceeds back to the artist, ideally via a nonprofit so that the donation is tax-deductible. Auction houses or other market intermediaries wishing to incorporate such activities into their equity practice could pledge a portion of the seller’s commission or the buyer’s premium back to the artist.”
Read more at artnet.com