Artists to get recompense when work is resold

The Federal Economy Minister Kris Peeters (Flemish Christian democrat) has said that the new system will come into force this summer.

Young artists that are starting out often sell their work at a low price. Once the artists become more well-known, their work is often sold on at a much higher price. Soon artist will be entitled to a cut of between 0.25% to 4% of their work’s resale price.

In order for the artist to benefit from the new measure, the work must have been sold for more than 2,000 euro.

"If a sculpture made by Rik Poot was sold for 27,720 euro, it would entitle the artist to a cut of 1,108 euro”, Mr Peeters explained.

The right to a cut of the resale price remains until 70 years after the artist’s death. A central registry of art sales will be set up from 1 July. This is meant to ensure transparency.