How does an educational institution sit with respect to the Scheme?  Are their resales “professional resales”?  

Section 9(2)) mentions publicly funded libraries, museums, and archives that collect and display artworks (GLAM), but not universities, who have extensive collections.

To be a “professional resale”, at least one person involved in the resale must be:

  • an Art Market Professional or
  • a publicly funded art gallery; or
  • a public funded museum, library, or archive that collects and displays artwork. 

(from section 9(2)(a)(i) to (iii)).

Universities and other educational institutions are clearly not listed in this definition, which means their sales and purchases of artwork won’t automatically be classified as a “professional resale”. 

However, their sales and purchases will still qualify as a professional resale if at least1 person involved in the resale” satisfies (a), (b), or (c) above.  Examples include (but aren’t limited to): 

  • the University is buying from an Art Market Professional;
  • the University is buying from a publicly funded archive that collects and displays artworks (or other GLAM);
  • the University is selling and using an auctioneer to assist with the resale;
  • the University is selling, and has engaged an art consultant to assist with a private resale;
  • the University is selling to a private buyer, who is using an Art Market Professional or an art consultant to assist them with the resale;