Monday, February 18, 2019

The Swizz Beatz Resale Royalty Solution

Mentioned in this NYT Style Magazine profile:

"Dean has proposed sidestepping the law entirely and instead introducing an option for collectors selling a work through an auction house or gallery to simply check a box — yes or no (he’s been referring to it unofficially as 'the Dean Choice') — to indicate whether they’d like to give a percentage of the sale to the artist. He suggests that 3 to 5 percent is a fair commission. …

"'If you’re really a patron,' he continues, 'and really a collector, you’re gonna say yes. And I feel that in the first year we introduce this option, 30 percent are gonna say yes. And then the year after that it will be 60 percent, and then it will just keep going up from there, and then we won’t even need a rule. It will just be the thing to do. People are gonna want to check yes because the artists will know if they don’t — if they didn’t do the right thing.'"