UK Artists to Receive Royalties from Australian Art Resales
In a landmark move under the UK-Australia Free Trade Agreement, British artists will now earn royalties from the resale of their artwork in Australia, marking a significant boost for the UK's creative sector. This initiative enables UK creators to receive resale royalties on a wide array of artworks sold in Australia's professional art market, including paintings, sculptures, and photographs.
The introduction of the Artist’s Resale Right (ARR) in Australia is a vital development, with UK artists historically earning an average of £5,000 annually in royalties. This income is crucial for over 80% of artists, who depend on it for living expenses and art materials. The UK-Australia trade deal also brings additional benefits, such as eliminating tariffs on all UK exports to Australia, fostering economic and cultural connections between the two countries.
This legislation is a step forward in acknowledging the value of creative work and ensuring fair compensation for artists. It comes at a time when the UK's creative industries are thriving, contributing significantly to the economy and employing millions. The Design and Artists Copyright Society (DACS) and the Artists’ Collecting Society (ACS) have welcomed this development, seeing it as a crucial move towards a more equitable art market.