What are my obligations?

Who is an Art Market Professional?

The Act defines “Art Market Professionals” in section 11 as:
(a) a person who carries on business as an auctioneer (within the meaning of section 5(3) of the Auctioneers Act 2013):
(b) an art dealer:
(c) an art consultant:
(d) the owner or operator of an art gallery that deals in visual artworks:
(e) any other person who is in the business of dealing in visual artworks.

What are my legal obligations?

There are legal obligations for Art Market Professionals which require them to:

• report qualifying resales or original visual artworks to RRA; and
• pay to RRA* the resale royalty payable in respect of each qualifying resale. The seller is also jointly & severally liable for payment.

(*This assumes the Art Market Professional is acting as agent for the seller on a resale. In cases where there is no agent for the seller, then instead the buyer’s agent or the buyer will be jointly liable with the seller to make payment).

Which party is required to pay the royalty?

The following persons are jointly and severally liable to pay the 5% resale royalty to RRA:

When is the royalty payable to Resale Royalties Aotearoa?

The royalty is payable to RRA within 60 working days after the later of either:

1. the completion of the qualifying resale (or)
2. on the earliest date on which person(s) liable for payment becomes aware of liability.