October 27, 2011

Artists Sue Auction Houses Over Royalties

“Famed New York painter Chuck Close and other artists are suing Sotheby’s, Christie’s and eBay, contending the auctioneers willfully violated a California law requiring royalty payments on sales of their works. The three federal suits filed Tuesday seek class-action status to represent many other artists and demand unspecified royalties and damages – which could total hundreds of thousands of dollars given current art prices.”

Read more here.