In The Art Newspaper last week, Anny Shaw uses P. Diddy's recent purchase at auction of a Kerry James Marshall painting for $21 million -- "Marshall didn’t receive a cent from the sale" -- as an occasion to wonder about resale royalties for artists.
And that reminds me to thank everyone who came out to Pioneer Books Monday evening for a stimulating conversation on the subject of resale royalties (where among other things I described what I don't like about the most recent proposed legislation and defended my tentative, still-developing idea for an alternative version that would apply, without a cap, in cases where there has been a massive increase in value).
