Artists Will Be Guaranteed Royalties To Resales By Law In New Zealand

Creatives based in New Zealand, here’s some good news! The country’s government recently announced new legislation guaranteeing artists’ resale rights, which will officially take effect from 2024.

The law, which will provide visual artists with royalty payments when their work is resold, aims to reward and recognize creatives when their pieces make it onto the secondary market.

“This is about fairness. It underlines our Government’s commitment to honoring the tremendous artistic skill and creativity of so many of our visual artists,” says Carmel Sepuloni, Minister for Arts, Culture, and Heritage.

“Beyond the monetary acknowledgement, this is confirmation for artists that they have rights, and their cultural and societal contribution is valued,” she adds.

This change will be part of New Zealand’s free trade agreement with the UK and EU, and sees it join over 80 other countries globally that now have resale royalty schemes in place as a common international practice.

Artists will receive a flat-rate 5% royalty whenever their work is resold on the secondary market, though this will not include any additions, deductions, or changes to ensure it balances the interests of buyers and sellers alike.

“The establishment of this Scheme is a really important step to support emerging and established visual artists in Aotearoa (New Zealand’s Maori name), ensuring that they can continue to see benefits for creating amazing art and enabling the creative sector to thrive,” concluds Sepuloni. 

[via ARTnews and New Zealand Government, cover image via Kerin Gedge / Unsplash (CC0)]