The Impact of the Droit de Suite in the UK: An Empirical Analysis
AbstractThe Droit de Suite, known in the UK as Artists’ Resale Rights, provides an artist with the inalienable right to receive a royalty based on the resale price of an original work of art. This paper provides an empirical analysis of actual changes in the UK auction market for art that is subject to the Droit de Suite (DDS), relative to changes for art not subject to the DDS, and also relative to changes in the auction markets for art in countries where there has been no change in law. We do a difference-in-difference analysis, differencing price growth and sales growth across market segments and across countries over the period 1996 to 2007. Our results suggest that the introduction of the DDS has not had a negative impact on the UK art auction market.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7136.
Date of creation: Jan 2009
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Other versions of this item:
- Chanont Banternghansa & Kathryn Graddy, 2011. "The impact of the Droit de Suite in the UK: an empirical analysis," Journal of Cultural Economics, Springer, vol. 35(2), pages 81-100, May.
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
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