supporting artists' professional development
It is a great pleasure to discover a work of art or craft that elicits such a strong response that "you just have to have it!" Whether you intend to buy modestly priced work or seriously collect major pieces by artists of significant reputation, collection of art and craft significantly assists in the development of artists’ careers.
The time may come when an owner no longer wants to keep a work of art or craft as part of his/her collection (in art institutions this is called ‘deaccessioning’). Consider contacting the artist first to see if they are interested in receiving, or buying back, the work. If not, contact the gallery from which the work was purchased, or a reputable auction house. If the work is of significant cultural value, you may consider ‘gifting’ the work to a cultural institution. If you need to get the work valued before deaccessioning see the section Getting an Artwork Valued.
Resale Royalty
Resale Royalty is a right given to artists in some overseas countries, but is not legislated in Australia. Under resale royalties the artist or his/her estate is paid a percentage of the sale price each time the work is resold after the first sale. Resale royalties can provide artists with much needed income and acknowledges that artworks can appreciate greatly in value overtime and that the original creator has a right to financially benefit from that appreciation.
Although Australia doesn’t have resale royalty legislation, some artists and galleries ask buyers voluntarily to agree to pay a resale royalty if the owner later sells the work. For more information on Resale Royalties see the following:
NAVA Resources:
Copyright, Moral Rights, Resale Royalty, Equal Opportunity, Restrictions on Freedom of Expression. Chapter 6 of the NAVA Code of Practice, 2nd edition, 2004.
ISBN 0 9751929 0 6.
Read the chapter.
Buy the full publication.
Gifts to Cultural Institutions
The Australian Government has a Cultural Gifts Program that encourages gifts of significant cultural items to public art galleries, museums and libraries in Australia. Donors are allowed a tax deduction for the market value of their gifts under Subdivision 30-A of the Income Tax Assessment Act 1997. The Program operates within specific guidelines regarding eligible works and procedures for accepting a gift.
The Department of Communications, Information Technology and the Arts (DCITA) administers the program with the advice of the Committee on Taxation Incentives for the Arts. The Committee advises the Secretary to the Department on the approval of valuers to participate in the program and examines donations to ensure they conform to the program's requirements. Information and forms can be accessed at the DCITA.
