Australian artists are set to benefit when their works are resold overseas, with international reciprocity being extended to a further 9 countries.
A share of the value from Australian artists’ work resold overseas will go directly back to the creators with an expansion of the Resale Royalty Scheme.
Australia has entered into reciprocal arrangements with nine new countries: Estonia, Greece, Lithuania, Mexico, New Zealand, Poland, Romania, Slovakia, and Uruguay. This takes the list of total participating countries to 26.
Under the Scheme, visual artists are entitled to a 5% share on eligible resales of their original works valued at $1,000 or more in Australia, and the ability to access local schemes in participating countries when their works are resold there.
The extension delivers on the Australian Government’s commitment in the National Cultural Policy – Revive, to enhance the scheme to provide royalty payments to artists, including First Nations artists.
The Resale Royalty Right for Visual Artist Act 2009 provides visual artists with royalty rights similar to other creators such as songwriters or authors.
Under the act, auction houses and galleries are required to report resales to Copyright Agency, which determines eligibility, collects royalties and pays them to artists.
The changes come into effect on 31 March 2025.
Since it commenced, the Scheme has generated over $16 million in royalties benefitting almost 3,000 artists.
Find out more
- Read the Minister’s media release