Starting April 9, 2006, Italy has applied the Artist's Resale Right, which is a royalty payable to artists (alive or deceased less that 70 years) of the figurative arts and of manuscripts for each sale of his works of art subsequent to the first sale.
Resale royalty will be charged to the Vendor it will be applied where the hammer price is equal or superior to 3000 Euro or more and the amount cannot be more than 12.500 Euro per lot.
This amount is calculated as follows:
- 4% when hammer price is starting from € 3.000 to 50.000 Euro
- 3% between 50.000,01 and 200.000 Euro
- 1% between 200.000,01 and 350.000 Euro
- 0.50% between 350.000,01 and 500.000 Euro
- 0.25% in excess of 500.000 Euro
