Monaco is strengthening its legislation in favour of artistic creators with a decisive clarification of resale rights. This advance affects handwritten, graphic and plastic works and represents significant progress for artists and their beneficiaries. Find out what this means for the art world.
Understanding resale rights
History of Artistic Legislation in Monaco
The protection of literary and artistic works in Monaco, governed by a law dating back to 1948, has evolved with the adoption of Law n° 1.526 of 1st July 2022. This reform clarifies droit de suite, a fundamental right often misunderstood in the artistic world.
Definition and scope of droit de suite
The resale right is recognised as an inalienable right for the author or his heirs, enabling them to receive remuneration on successive resales of the work. This provision concerns transactions involving art market professionals, whether as seller, buyer or intermediary.
Application of the Resale Right
The Sovereign Order in detail
Sovereign Order n° 10.300 of 22nd December 2023 details the conditions for exercising the droit de suite. It applies to sales made in Monaco in the presence of an art professional, subject to VAT liability.
Exclusions and thresholds for droit de suite
Note that droit de suite is not applicable if the sale price is less than 750 euros. It is also inapplicable for sales where the seller has acquired the work directly from the author for less than three years and for a sale price of less than 10,000 euros.
Collective Management and State Authorisation
Role of Legal Entities
Under certain conditions, a legal entity may claim droit de suite, in particular with the approval of the Minister of State. These approvals are published officially, providing greater transparency.
The recent legislative reform in Monaco is a major development for artists’ rights, strengthening their protection and bringing Monaco into line with international copyright standards. For art market players and collectors, a thorough understanding of these changes is essential for informed navigation within Monaco’s legal framework.
