Mexico publishes Resale Right Tariffs
The Mexican Copyright Office has published official resale right tariffs marking a step forward towards strengthening the rights of visual artists in the country.
The tariffs apply to any resale of an original artwork by auction houses, commercial establishments, and art professionals.
As in most countries around the world, royalties paid to visual artists in Mexico are calculated as a percentage of an artwork’s selling price. Rates range between 4% and 1.25% as an artwork’s selling price falls within different price bands. Under this regulation, auction houses, galleries and other art dealers are required to notify the local CMO of any resale of an artwork within two months via writing.
This new regulation represents a milestone for the implementation of the resale right in Latin America. It is also the result of joint lobbying efforts by CISAC member SOMAAP and the Latin American Technical Group of AGP societies, coordinated by the CIAGP (International Council of Creators of Graphic, Plastic and Photographic Arts).
For more details on the published Resale Right Tariffs visit the Mexican Federation’ official News page.