Your Australia-UK FTA: Artist Resale Royalties
The Copyright Agency, the organisation appointed by the Australian Government to collect and pay royalties to artists on the resale of artworks, welcomes the commitment in the Australia-UK Free Trade Agreement (A-UK FTA) to implement reciprocal access to each other’s resale royalty schemes.
Australia and the United Kingdom have schemes under which visual artists can receive a percentage of the eligible resale value of their works. This provides artists with a valuable source of additional income, recognises that they are entitled to a share of the ongoing value of their works, and acknowledges the artist’s enduring right in their work.
The Resale Royalty Right commenced in Australia in June 2010 and has generated nearly $10 million in royalties for Australian artists.
Australian artists are currently only eligible to receive royalties when their works are resold in Australia. Under the A-UK FTA, Australia and the UK have committed to establishing a reciprocal arrangement in relation to these schemes. This means Australian artists will become eligible to receive royalties through the UK scheme when their works are resold in the UK.
Manager of Visual Arts at The Copyright Agency Ltd, Judy Grady, said
“The A-UK FTA sets a new benchmark for the recognition of resale rights for Australian artists, including our Indigenous artists, whose compelling visual stories are much sought after internationally. Australian artists deserve the recognition and royalties provided by these resale schemes and we are pleased that the A-UK FTA will recognise their contribution to society and to the economy in general.”
DESART CEO Phillip Watkins said
“The Resale Royalty scheme has provided many benefits to the artists in our region returning an income to the artists and their families and providing recognition and acknowledgement that there is ongoing interest in their artworks.
We welcome the commitment in the A-UK FTA to implement reciprocal arrangements for the Resale Royalty Scheme as it will not only provide artists with an additional source of income for works sold internationally, but also strengthen the overall industry.”
The Australian Government has appointed the Copyright Agency to manage the Resale Royalty Scheme.