![img_55-1.jpg](https://gazette-eu-west2.azureedge.net/media/104575/img_55-1.jpg?width=750&height=500&mode=max&updated=06%2f23%2f2024+10%3a52%3a53)
Living artists and the descendants of artists deceased within the last 70 years are entitled to receive a resale royalty each time their work is bought on the secondary market. The right applies only when the sale price reaches or exceeds £1,000 and is calculated on a sliding scale.
Please note ARR in the UK is applied in sterling since April 1 (2024).
Auctioneers will apply current exchange rates.
Royalties are also capped so that the total amount of the royalty paid for any single sale of a work cannot exceed £12,500. ARR is exempt of VAT.