Where do resale royalties go?
Given the aim of the resale royalty scheme is to put money into artists' pockets, we are often asked about where the royalty payments go.
In the early days of the scheme a number of people were concerned that the scheme would only benefit a few artists who were already successful. Although the scheme is still in its early days, we are pleased to report that there is a good spread of royalty payments going out to many artists. Here are some facts about the royalties generated by the scheme so far.
- Over $830,000 has been generated in royalties
- Over 1600 eligible resales have been reported for over 430 artists
- Over half of the artists to receive a royalty have received one or two, others have received multiple
- Royalties generated by the scheme range from $50 to $40,000
- Over 60% of the artists receiving resale royalty payments are Indigenous
- Most of the royalties are going to living artists
There was also concern how about how we would get the royalties to the artists, especially those artists in remote regions of Australia. This has been easier than we anticipated. We make payments either directly into the artist’s bank account or send a cheque to the artist’s nominated postal address. Artists can advise us at any time of their preferred arrangement.
Artists, you can help us to get royalties to you quickly by ensuring we have your contact and payment details ready for when a resale for you is reported. You can set up a secure account (register your details) here. Alternatively, you can contact our Visual Artist Manager, Tristan Chant by email or by phone on 1800 066 844.