Our valuation process to determine a fair purchase price is often based on the value of an archive as a whole and most items within the archive won’t qualify for the royalty. What are the expectations of RRA with regard to these items?

If the value of each individual item is below the threshold of NZ$2000, then the sale of that individual item will not meet the threshold of a qualifying resale, and no reporting or payment of a resale royalty will be required.

If however you later determine through your ongoing research that one of the items you purchased was in fact an original visual artwork that has a value higher than $2000 and which was reflected in the overall archive price, you may have an obligation to report the resale to RRA.  Again in this situation , if you have any question as to whether you have any obligations under the Act, please contact us and we will help determine the appropriate action to take.