Resale of Artworks
Art owners who wish to resell works are invited to exhibit and offer for sale original works of any media which are by recognised artists, at Off the Wall, to be hosted by the Glen Innes Art Gallery from 28 October to 4 November.
Works must be delivered to the Art Gallery by Tuesday 24 October. Contact the curator, Denis Haselwood 0428344142 for information and conditions of entry. Royalty resale rights may apply for works with a sale price of $1,000 or over.
Resale Royalty Rights VERSION 2
5% Royalty is payable to visual artists on certain commercial sales of their works under the Resale Royalty Right for Visual Artists Act 2009:
- For original works
- If the sale is the second transfer of ownership after commencement date (8 June 2010)
- If the sale price is $1,000 or more including GST
- If the sale involves a market professional (e.g. Art Gallery)
The royalty is payable to the artist or the artist’s beneficiaries:
- If the artist is(/was immediately prior to death) a citizen or permanent resident of Australia
- Or a citizen or permanent resident of a country which has a reciprocal arrangement with Australia.
The resale royalty will be payable on all commercial sales (to the artist or his/her estate) which occur until the end of 70 years after the calendar year in which the artist dies.
Payment of the resale royalty is the joint responsibility of the vendor, the buyer and the art market professional/gallery.
Vendors with works over $1000 will need to add 5% to the Commission plus 10% of the 5% as CAL fee to the commission….So if a work is for sale at $1000
- GIAG commission is 20% (members) so $200
- RR is 5% so $50
- CAL fee is 10% of RR so $5
SO TOTAL COMMISSION THE VENDOR WILL PAY IS $255
The Copyright Agency Ltd. (CAL):
- Will publish information about commercial resales on its website
- Collect the resale royalty plus 10% of the amount collected as a fee
- Distribute the resale royalty
Artists wishing to receive their resale royalty amounts should register their details with CAL. If the artist is not a member, CAL will hold the payment until the artist is a member.
If the artist wants to collect the royalty themselves, or not collect any royalty, they must notify CAL for each work of art.
Artists can become a member of CAL https://www.copyright.com.au/membership/join-us/ OR Viscopy