What are the requirements to report all secondary purchases to RRA, or only those that are a Qualifying Resale under the Act?
You are only required to report a Qualifying resale as defined in the Act. The scheme will operate on good faith and the belief that you are better qualified to determine whether a purchased item is a qualifying resale or not, and we will not be investigating your decisions unless independently alerted.
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Should a resale involving an artist from overseas be reported to Resale Royalties Aotearoa (RRA)?
Yes, any qualifying resale of an original artwork, regardless of the artist’s country of origin, must be reported to Resale Royalties Aotearoa (RRA). Our role at RRA is to assess the eligibility of the artist and verify the validity of the resale ...
Do we report the resale if we don’t know the name of the artist or maker?
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 ...
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 ...
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 ...
Getting your resale royalties payment
The timeline for getting your resale royalty: The AMP reporting the resale has 60 business days to do so. Once the report has been reviewed by our research team, the royalty will be either approved or declined. Any approved resales will then be ...