What is an artist resale royalty agreement?

An artist resale royalty agreement, also known as “droit de suite” or “resale right,” is an agreement between an artist and the buyer of a work of art. It gives the artist a portion of any profits made should that buyer resell the art. This agreement is established under Kansas art law, which was enacted in 2011. Under the agreement, the artist will receive a percentage of any profits the buyer makes when they resell the artwork. This percentage is based on the sale price of the artwork and the size of the royalty. The artist must also be a citizen or resident of Kansas in order to receive this royalty. The agreement also applies to any artwork that has been loaned to a museum or art gallery that is open to the public. This ensures the artist will receive a small portion from the profits made from the artwork. Overall, the artist resale royalty agreement is beneficial for both the artist and the buyer. The artist receives royalties from the sale of the artwork they have created, while the buyer of the artwork will not be required to pay the artist unless they resell it. This agreement helps to protect the rights of the artist so that they can receive fair compensation for their work.

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What is an artist resale royalty agreement?

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