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Three auctions held in the last six days resulted in $1.4 million in sales of artworks by 29 living Canadian artists. Many of the artworks have increased in value over time but these profits are not currently shared with the artists. If Canada had an Artist’s Resale Right of 5%, the artists would have received a combined total of $70,517.
For example, a piece by Montreal artist, Claude Tousignant, Accélérateur Chromatique 90, sold at Sotheby’s last night for $110,000. If Canada had an Artist’s Resale Right of 5%, Tousignant would have received $5500.
“It’s great to see Canada’s auction houses promoting Canadian art as vigorously as they are, and having success in doing so,”
said CARFAC President , Grant McConnell. “Coupled with the fair compensation to artists that the Artist’s Resale Right would bring, that success could be more widely celebrated. All of us should have something to gain from a vibrant and growing Canadian art market.”
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http://www.carfac.ca/2010/10/1047/