Thursday, October 29, 2020

“I Want My Two Dollars!”

According to yesterday’s WSJ, some visual artists are better off dead. Well not quite, but better off without their royalty checks guaranteed to them under California law. The Journal summarizes this law nicely:

When a work of art is resold in the state, or by a California resident, the seller must set aside 5% of the gross selling price to pay the artist. The law applies to any resale of $1,000 or more within 20 years of an artist’s death, so long as the sale isn’t between dealers.

That’s right: this applies to any resale, and John Baldessari certainly accepts his checks. Donn Zaretsky has an interesting interpretation of the “by a California resident” section of this law. More from the WSJ here.



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