Please note: since 14th February 2006, this royalty has been payable on artworks by living artists resold at auction for a hammer price in excess of 1,000 Euros (or equivalent in the local currency calculated at the daily exchange rate).
To comply with these regulations, Fellows levy the standard 4% surcharge payable on the hammer price (excluding commission and VAT), in instances where works by living artists exceed the equivalent of 1,000 Euros. This is then passed wholly and directly to approved agencies who remunerate the artist - in much the same way that a musician receives PRS royalties.
A reduced scale of charges apply in rare instances where hammer prices exceed 50,000 Euros, and these can be found at the website of the Design and Copyright Artist’s Society, www.dacs.org.uk or by telephoning 0207 336 8811 (from overseas +44 207 336 8811)
Fellows are pleased to assist any potential buyers who require further information.