Christie’s, Sotheby's Stiffed Artists On Royalties: Suit

Law360, New York (October 19, 2011, 7:46 PM EDT) -- A proposed class of artists sued Christie’s Inc. and Sotheby’s Inc. on Tuesday, alleging the auction houses unlawfully failed to pay artists resale royalties for sales of their work in California.

The proposed class actions, filed by artists Chuck Close and Laddie John Dill, the estates of Robert Graham and the Sam Francis Foundation, allege the auction houses failed to pay artists 5 percent of the resale price of all fine art sold in the state or put up for sale by California residents.

The artists...
To view the full article, register now.