How does the scheme affect Art Market Professionals?

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• What do I need to do as an Art Market Professional?

  Art Market Professionals: Art Market professionals have certain obligations and liabilities under the Scheme. These are explained in our Guide: Information for Art Market Professionals. Please register to stay informed about your obligations under ...

• 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 ...

• How does it work when an art consultant facilitates a resale between two private parties?

  The resale is considered a professional resale because an art market professional is involved. That means, provided it meets the standard criteria, it will be a qualifying resale.

• What is the process for claiming an unpaid resale royalty?

  RRA will periodically inspect and audit published auction sale results to monitor compliance with the Act and Regulations. However, because we rely on art market professionals and other stakeholders in the Scheme to notify us of resale payments that ...

• AMPs have differing costs associated with resales. Is it fair that AMP’s costs aren’t factored into the calculation of the royalty

  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 ...