Secondary market

Over $1 million in royalties have been distributed to almost 500 artists since introduction of the Resale Royalty Scheme in 2010

Since introduction of the Resale Royalty Scheme in 2010, more than $1 million in royalties has been distributed to more than 500 artists from the resale of over 5,000 visual arts works.

Viscopy reports that around 90 percent of distributions are to artists who are still alive. Over 60 percent of these artists were Indigenous.

With a few exceptions, the royalty payments generated by the scheme are relatively small: about 95 per cent of royalties paid to artists or their beneficiaries have been between $50 (the minimum amount) and $500. At the other end of the scale, the highest royalty generated to date by the scheme has been $50,000.