Congress Introduces ART Bill
The Maine Antiques Digest has reported that the US Congress, on September 25, 2018, introduced the American Royalties Too (ART) act with bipartisan support. The act calls for an amendment to the Copyright Act of 1976, requiring purchasers of visual art to pay a royalty to the artist if they resell that art on the secondary market. The language specifies “an amount equal to the lesser of 5 percent of the price of the copy of the work of visual art as sold at auction, or $35,00o, and would only apply to sales at auction houses that sell over a million dollars of art per year. Private sales, online-only sales and art sold for less than $5,000 are exempted.