Art market professional’s concerned about whether the royalty accounts for differing AMP costs should note that the royalty is calculated exclusive of (i.e. disregards) any costs associated with the resale. This leaves it up to the art market ...
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”. This ...
Yes, even if you do not know the artist or makers name(s) we kindly ask that you report all qualifying resales to us. Please provide any information you can about the works origins (if known). RRA’s role is then to determine if the resale is eligible ...
There are legal obligations for Art Market Professions which require them to: report qualifying resales of original visual artworks to RRA; and pay to RRA* the resale royalty payable in respect of each qualifying resale. The seller is also jointly & ...