Report

Government promises $1.5m over three years to establish resale right for artists

21 May 2008
Description

Under the scheme, artists will receive a percentage of the sale price each time their work is resold via an intermediary such as an auction house or commercial gallery. On 13 May 2008, the Australian government announced that it would contribute $1.5m over 3 years to support the establishment of a resale royalty scheme for artists. Under the scheme, artists will receive a percentage of the sale price each time their work is resold via an intermediary such as an auction house or commercial gallery. There are similar schemes in other countries, including the UK and other members of the European Union. A bill to introduce the right has also recently been introduced in New Zealand.

According to the government's media release, an independent collecting society will be appointed to administer the scheme. It is anticipated that an open tender process will be conducted in the second half of 2008 to select an appropriate organisation.

 

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Published year only: 
2008
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