March 5, 2009
Droit de Suite
For years I have used a discussion of the droit de suite (the artist's right to share in the proceeds of sales of his or her work beyond the first sale) to teach my law students about transaction costs, social subsidies to creative and expressive activities, and more. The State of California since 1977 has had such a practice (requiring subsequent sales of an artist's work to remit 5 percent of the sale price to the artist if the sale is over $1,000 and not between art dealers). There is a wonderful story -- available here -- in today's Wall Street Journal about a California state official whose job it is to track down artists who are entitled to payment.
March 5, 2009 | Permalink
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