tag:blogger.com,1999:blog-4999132152139258806.post5851957508942092135..comments2024-02-25T09:46:47.870+11:00Comments on Adaptive Radiation: SleeperAdaptive Radiationhttp://www.blogger.com/profile/02802440878512403627noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4999132152139258806.post-61396397953945439052017-11-29T08:45:04.513+11:002017-11-29T08:45:04.513+11:00The value of aboriginal art reached its peak some ...The value of aboriginal art reached its peak some years ago so it's been interesting seeing a lot of art investors getting rid of their collections to cut their losses, which is great for obsessive collectors like me ;-)<br /><br />The artist in question passed away some years ago, but you are right, for most earlier works, the artists don't really benefit from any increases in the value of their artworks. All that changed a few years ago when the Government introduced the 'resale royal' to ensure that this 'injustice' is remedied and that artists can now benefit from the profits arising from the subsequent (higher) sale of their artworks (fortunately they don't have to pay if their work depreciates in value!). This only applies to art that was produced after the new law came into effect. <br /><br />Incidentally, it's not an uncommon practise for people to buy 'under valued' works at auction and then donate those works to public institutions under the cultural gifts program at the actual (higher) value and receive a bumper tax break. <br /><br />I don't think I can part with mine though.Adaptive Radiationhttps://www.blogger.com/profile/02802440878512403627noreply@blogger.comtag:blogger.com,1999:blog-4999132152139258806.post-92053251214878091202017-11-28T22:44:39.046+11:002017-11-28T22:44:39.046+11:00I suppose while the artist originally made good mo...I suppose while the artist originally made good money from the sale, I think their work has now being devalued by you being able to buy the work cheaply. But never mind, not to spoil your pleasure with a bargain for something you really like.Anonymousnoreply@blogger.com