Aboriginal art Aussie blog

 

 

However, royalty payment is not applicable on the first change of hands after that date, so Australia Gift Shop is currently offering fabulous super specials in its Aboriginal Art Sale of paintings by major artists in its online Aboriginal Art Gallery for Investors & Collectors of Fine Art.

 

Some of these Aboriginal Art Sale price reductions are up to 30% off the list price until early Spring Downunder – which is next month.  

As we understand it, there is no royalty payable on resales of works under $1,000 but a royalty of 5% is applicable on all resales of $1000 and over. Also, resales of $1000 and over must be reported to Copyright Agency Limited (CAL) by the dealer or art market professional. Resales of artworks under $1000 must also be reported to CAL, even tough no royalty is payable under the Artists’ resale royalty scheme ( see http://www.resaleroyalty.org.au/ ).

Recently all Aussie political parties going into the Australian Federal Election on the 21^st of August agreed that Aboriginal art will continue to be allowed to be included in private superannuation funds. As a result, the substantial number of Aboriginal art investors who acquire art for private super funds can once again have confidence in their Aboriginal art investments.

The Australian government decision, regardless of which political party wins the upcoming election, has renewed the confidence and positively recharged the expectations of all art investors and collectors who have an interest in the Australian Aboriginal art market. It is good news for Aboriginal art valuations, future art auction sales and prices and for the Aboriginal art market overall – both nationally and internationally.