Keys, Beatz Launch Artist Royalty Program with Bonhams

Alicia Keys and Swizz Beatz, through their Dean Collection, have launched a collaborative artist royalty program with Bonhams auctions, aiming to establish a new model for secondary market sales. This initiative allows sellers to allocate a percentage of auction proceeds directly to the original artist, with Bonhams matching that share. The program is designed to ensure that living artists benefit financially from the resale of their work, a concept inspired by the royalty structures in the music industry. This marks the first art auction royalty mechanism of its kind to be introduced in the United States.

The inspiration for "The Dean's Choice with Bonhams" stemmed from the realization that many living visual artists do not participate in the financial gains from the resale of their art in auction or secondary markets. Swizz Beatz and Alicia Keys cited an example from 2018 when Kerry James Marshall's 1997 painting, "Past Times," sold for $21 million USD at Sotheby's, setting a record for a living African American artist, yet Marshall himself did not receive any financial benefit from the sale. The couple drew a parallel to the music industry, where songwriters receive royalties throughout the life of their songs, providing long-term financial benefits for them and their families. They presented this "game-changing idea" to Bonhams, which readily embraced the vision and partnered to bring it to fruition.

This "elective sale royalty" system is architected as a "bilateral opt-in," meaning both the seller and the artist must agree to the terms. Sellers have the option to designate a specific percentage of the sale price to go directly to the artist. Bonhams will then contribute an equivalent percentage, effectively doubling the artist's share from the resale. This innovative approach seeks to create a more equitable system within the art market, where the creators of the work can continue to earn from its appreciation and market demand.

The program is positioned as a "new model for how the secondary market" operates. It is scheduled to officially launch in November 2026, coinciding with Bonhams' 20th and 21st Century Art auction. This partnership between The Dean Collection and Bonhams represents a significant step towards integrating artist compensation into the secondary art market, potentially influencing future practices in art auctions and sales globally. Further details about the program can be found on Bonhams' website.