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Information for Art Market Professionals

The Resale Royalty Scheme

 

The resale royalty scheme entitles artists and their beneficiaries to a 5% royalty on certain resales of their works.

 

The Australian government has appointed Copyright Agency to manage the scheme. Copyright Agency is a non-profit company that has been managing rights for authors, artists, publishers and others for more than 20 years.


Art Market Professionals

 

"Art market professionals" - who include auctioneers, art dealers, art galleries, museums and others involved in the business of dealing in artworks - have legal obligations under the scheme.


Reporting Resales

Vendors – directly or through their agents – must provide Copyright Agency with sufficient information about all commercial resales after 8 June for Copyright Agency to work out:

  • provide certain information to Copyright Agency; and
  • ensure, together with the buyer and seller that royalties are paid to Copyright Agency to on-pay to artists and their beneficiaries.

This information can be provided to Copyright Agency by the gallery, auction house or dealer.


Paying Royalties

 

A royalty is payable on a reported resale if:

  • the work was acquired after 8 June;
  • the sale price (including GST) was $1,000 or more;
  • the artist is from Australia or a country listed in the Regulations to the Act.

For more information


Contact Copyright Agency

 

If you have a question about the Resale Royalty Scheme, Copyright Agency or anything else, please fill in our enquiry form

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