For buyers and sellers of art

On 9 June 2010, a new scheme to benefit artists starts operation. The scheme will entitle artists to a 5% royalty on certain resales of their works.

The new scheme will also affect people who buy and sell artworks through businesses that deal in artworks, such as commercial galleries, auction houses, art dealers, online auction sites and online art sales. There will be some new legal obligations for buyers and sellers of art under the Resale Royalty Right for Visual Artists Act 2009 (the Act), when it comes into operation.

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