Category: Homepage
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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 […]
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How much is the resale royalty payment?
The amount is the same for both eligible artists and successors, a 5% royalty will be collected for eligible artists each time there is a qualifying resale of their original visual artwork. The collection and distribution of the payment is managed by RRA, a not-for-profit. RRA will retain 20% for the purpose of funding RRA operations […]
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What is an “original visual artwork”?
Checklist 2.1: If any of the following boxes are checked, the work is a “visual artwork”: However, visual artwork does not include: * (These terms are defined in s 2(1) of the Copyright Act 1993) Checklist 2.2: To be an “original”, the visual artwork must have been:
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Who is an “eligible artist”?
Checklist 3.1 IF the artist is alive at the time the contract for resale is entered into: is the artist: If you ticked either of these boxes, then the artist is an eligible artist. Checklist 3.2 IF the artist is deceased at the time the contract for resale is entered into: at the time of […]
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When does the resale right expire?
In the case of deceased eligible artists, their resale right may or may not have expired. A resale royalty will only be payable if the contract for the resale was entered into on or before the following expiry dates (as applicable): If the resale contract was entered on or before the expiry date, a resale royalty is payable. If the resale contract […]
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Who is liable to pay the resale royalty?
The following persons are jointly and severally liable to pay the 5% resale royalty to RRA (section 17, of the Act) :
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When is a resale royalty payable?
An eligible artist” (or their successor) has a right to be paid a resale royalty each time there is a “qualifying resale” of an “original visual artwork” by that artist (provided the resale right had not “expired” at the time of resale) Use the flowchart in the Criteria section of the Homepage to apply this […]
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How does the scheme apply to GLAM organisations?
The scheme applies to: Three ways the Scheme affects GLAM:
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How is the resale value calculated?
The resale royalty payable is calculated at 5% of the “resale value” of the qualifying resale (section 16). Section 10 says that “resale value” means: “the value of the consideration given for the visual artwork under the contract for resale” which may include: ‘Resale value’ does not include: Plain English Guidelines In plain English, this […]
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Has there been any consideration regarding the extension of copyright duration that will be enacted sometime in the next four years?
Currently the artist resale royalty will apply for 50 years after the death of the artist which aligns with New Zealand’s current Copyright Act. However our understanding is that the Copyright term will be extended prior 1 May 2028, and we would expect that the ARR term will then also be extended to align with […]