The French parliament adopted on May 24 2000 a draft providing for the reform of the auction profession in France. The long-awaited draft, due to be examined in June by the Senate for final approval, suffered procrastination regarding the amounts of indemnities that are to be paid to those auctioneers who would no longer be in office after the reform. French deputies finally agreed on a
compensation amounting to 50% of the value of any auction concern based on the average turnover calculated over the past five years. They also recommanded that new auction companies should offer guarantees to their customers and carry out their business with the agreement of a special council which would have the power of implementing disciplinary measures and of appointing experts for sale.
A spokesman for the Company of Parisian Auctioneers however regretted that no disposition was taken regarding the indemnities allocated to the younger members of the profession who have incurred heavy debts to start their activities a few years ago.
The reform has been taking over eight years to be implemented after French auctioneers showed a strong resistance to renounce privileges dating back to the 16th Century. It will enable Anglo-Saxon auction houses to carry out sales in France but heavy taxes regarding copyrights granted for artists still living or dead after 1930 will remain a handicap meaning that sales of Modern and Contemporary Art will continue to be organised in New York or in London mainly.
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