Artist's Resale Right ("Droit de Suite")
The buyer agrees to pay Bearnes Hampton & Littlewood an amount equal to the
resale royalty and we will pay such amount to the artist's collecting agent. Resale
royalty applies where the hammer price is 1,000 Euro or more and the amount cannot
be more than 12,500 Euro per lot.
Royalty for the Portion of the Hammer Price (in Euro)
|
4.00%
|
up to 50,000
|
|
3.00%
|
between 50,000.01 and 200,000.00
|
|
1.00%
|
between 200,000.01 and 350,000.00
|
|
0.50%
|
between 350,000.01 and 500,000.00
|
|
0.25%
|
in excess of 500,000
|
Invoices will, as usual, be issued in Pounds Sterling. For the purposes of calculating
the resale royalty the Pounds Sterling/Euro ratio rate of exchange will be the European
Central Bank reference rate on the day of the sale.