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Artists to benefit from Resale Royalty Right
resale right for Australia's visual artists is expected to be in place by 1 July 2009, Arts Minister Peter Garrett said today.
Mr Garrett said legislation would be introduced into the Parliament before the end of the year to establish the right which would ensure visual artists received a portion of the proceeds from the resale of their works.
During a visit to Papunya Tula Gallery in Alice Springs the Minister acknowledged the enormous contribution of Australia's artists to the cultural landscape and the significant growth in the Indigenous art market.
"The introduction of a resale royalty right is a landmark moment for Australia's visual artists," Mr Garrett said.
The announcement follows government agreement to a resale royalty scheme which will involve a mandatory five per cent artist's royalty on resales of artworks, when sold for $1,000 or more. The resale royalty right will apply to works by living artists and for a period of 70 years after an artist's death.
"By enshrining in law the right of artists and their heirs to receive a benefit from the secondary sale of their work, we are building an environment where the talent and creativity of visual artists receives greater reward and recognition."
"This is an incredibly significant outcome for visual artists in Australia who in future will benefit financially when their works are sold on the secondary art market. Introducing a resale royalty scheme will help to address a current imbalance, where visual artists benefit less from copyright than other creators, such as authors and composers."
There will also be regulatory benefits particularly for Indigenous artists, who have experienced significant increases in the value of their work, through improved transparency and record keeping in the art market.
Resale royalties will be collected and distributed to artists by a single collecting organisation, which will be selected by the Government through a competitive tender process. The scheme will be introduced to suit the needs of Australia's secondary art market and will only apply to resales of original works acquired after the scheme takes effect.
"The Government has announced a scheme which balances the unique characteristics of the Australian art market as well as maximising benefits to artists," Mr Garrett said.
"Today's announcement fulfils an election promise and reinforces the Government's commitment to a vibrant and sustainable arts sector."
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