“I’m excited to announce that we have opened applications to be the collection agency for Aotearoa New Zealand’s Artist Resale Royalty scheme,” announced Joe Fowler, Pou Mataaho o Te Aka Tūhono Deputy Chief Executive Investment and Outcomes.
“We are looking forward to finding a partner that is as committed as we are to helping visual artists build sustainable careers.
“The Artist Resale Royalty scheme will mean that when visual artists’ work is resold after its primary sale, that the artists get a cut of that purchase. At the moment, the original creators of work don’t see any benefits of a secondary sale, even if their reputation has grown and the artwork is priced higher than it originally was.
“The collection agency will manage the administration of the scheme, by collecting and distributing the royalties. The agency will play a vital role in the scheme and as part of the wider arts sector.”
Registrations of Interest are open from 25 October – 22 November 2023.
“We are looking for applications from organisations that have existing networks in the visual arts sector, as connecting with artists, art market professionals, and arts organisations is going to be key to the success of this scheme. We expect to shortlist organisations that have a proven track record of these networks and have existing capabilities to manage royalties and a commitment to visual artists’ career sustainability.”
Organisations will also need to have current legal status in Aotearoa New Zealand, not operate for the purpose of profit making, and have experience in the collection and distribution of funds from and to third parties.
“To help the collection agency implement the scheme and get up and running, Manatū Taonga will provide $954,000 to the agency across the first three and a half years.
“The collection agency will also be entitled to collect an administrative fee for its work. This fee will be a percentage of the royalty collected, and is currently set as an initial 20%.
“Based on modeling and looking at similar overseas schemes, we expect that after three and a half years, the scheme should be self-sustaining.
“This is a really significant milestone for the Artist Resale Royalty scheme, that had its beginnings many years ago. I encourage organisations interested in applying to get in touch and see whether it’s the right fit. Otherwise, apply now via Enquire,” says Fowler.