£2.6 million paid in Artist's Resale Right Royalties to over 860 artists in third quarter of 2023
DACS distributed £2,650,061 million in Artist's Resale Right (ARR) royalties to 862 artists and artists' estates between July and September 2023.
This brings the total royalties paid to artists and estates in 2023 to £7,478,842, confirming ARR’s pivotal role in supporting the UK art ecosystem.
Key Highlights for Q3 2023:
- Over 60% of all ARR royalties paid out were under £500. For almost two thirds of ARR-qualifying transactions, the work sold on the secondary market for a maximum of £12,500.
- Median ARR payment for artists and estates was £280. A high volume of sales take place just above the ARR threshold value of £875 (€1,000).
- 53 artists were paid an Artist’s Resale Right royalty for the first time indicating that their works recently started selling above the threshold on the secondary market.
- £122,971,636 million has been paid in total to over 6079 artists and estates since 2006, when the right became UK law.
DACS is committed to its mission of supporting artists and estates, ensuring their contributions are celebrated and rewarded. With the successful distribution of £2.6 million in ARR royalties in the third quarter of 2023, ARR is more than just a royalty payment. For many artists and estates, it is an enduring connection between artists and the evolving ownership of their works; simultaneously creating a robust and transparent provenance trail, adding depth to the stories behind each work.
DACS Chief Executive
