British artists set for ‘royalty windfall’ with new Australia trade deal | Politics | News

British painters, photographers and sculptors are set for a “royalty windfall” down under as a result of the UK-Australia trade deal. Artists will now earn new royalties when their artwork is resold in Australia.

Britain’s artists exported £10million of items to Australia in 2021. High profile examples include David Hockney’s Lithograph of Water Made of Thick and Thin Lines and Two Light Blue Washes, which was auctioned for £95,000 last November.

Trade minister Greg Hands said: “British artists are renowned the world over, and from today they will be yet another beneficiary of the UK’s post-Brexit free trade agenda. By ensuring that British artists are paid fairly for their work around the world, we are helping to nurture the next generation of Hogarths and Constables – so we can see their work hanging on the walls of global galleries for generations to come.”

UK artists earn on average £5,000 a year in royalties, according to the Alliance for Intellectual Property. They will now be entitled to royalties of five per cent of the sale price of artworks sold commercially for AUS$1,000 or more.

Creative Industries Minister Julia Lopez said: “We will continue to do all we can to maximise the potential of the creative industries, and our creative talent. Thanks to this new free trade agreement, British artists will be fairly rewarded for their efforts, and be able to claim resale royalties in line with the system Down Under.

Britain’s “creative industries” employ 2.4million people and contribute £125billion to the economy. Sales in the Australian art market last year were worth more than AUS$140 million.

Harriet Bridgeman, who chairs the Artists’ Collecting Society, said she was “extremely pleased on behalf of the artists and artists’ estates which we represent that Australia has entered a reciprocal agreement with collecting societies in many countries including the United Kingdom,” adding: “This is a welcome development and will make a substantial difference to the Australian artists and artists’ estates whom we represent.

“We look forward to collecting ARR royalties on behalf of our members from 1st April 2024.”

Christian Zimmerman, chief executive of the Design and Artists Copyright Society, said: “We are delighted with this development and the official recognition of reciprocity of the Artist Resale Right between the UK and Australia, and we hope this to be the first of many such international developments.

“The expansion of ARR reflects our commitment to fostering fairness and equality within the art market and supporting artists worldwide. It represents a significant step towards creating a more equitable and collaborative global art ecosystem.

“We are looking forward to being able to collect resale royalties for Australian artists here in the UK and to receive such royalties for UK artists from Australia.”

Source link

Leave a Reply

Back To Top