12 years of the Resale Royalty scheme
July 1, 2022
The Resale Royalty Right enables artists who create work to share in its value when it is resold. On the 12th anniversary of the scheme, here’s some information about how it’s performing:
Over $11.5 million in resale royalties generated by the scheme
Over 2,400 artists and estates have had one or more resale royalties
Artists use resale royalties to pay for studio costs, materials and other expenses. It helps them to keep making art.
Over $1.4 million in resale royalties was generated by the scheme in 21/22.
The number of artists benefitting from resale royalty continues to grow, with over 200 artists having their first resale royalty in 21/22.
Artists’ estates use resale royalties to pay for publications and activities that support our ongoing engagement with the artist’s work. It is often the only income they receive.
65% of the artists who have had a resale royalty are Aboriginal and Torres Strait Islanders. They have received 38% of the royalties.
Artists say receiving reports of their resales keeps them involved in the journey their art is taking and is useful for provenance, and it supports them to create new work.
80% of royalties are between $50 and $500.
Of the 50 artists who have received the most resale royalty, 18 are Aboriginal and Torres Strait Islander.
Remote & regional
The scheme has a strong impact in remote and regional locations with 35% of the artists residing in NT and central Australia.
Preparations began to support the commitment to resale royalty reciprocity in the Australia-UK Free Trade Agreement.
For more information about the scheme go to: www.resaleroyalty.org.au