1. The Lockheed Lounge is not specifically defined as an artwork under the resale royalty legislation - it might be better described as decorative furniture and hence exempt from resale royalties even though each prototype is now worth more than $1million a piece.
2. Mark Newson is known as a designer and not an artist - but the term ‘artist’ is not actually defined in the resale royalty legislation.
3. The United States does not have resale royalty legislation so there would be no royalties payable in any event (assuming that this sale occurred post June 9 and was the first commercial resale etc).
4. In Australia there have only been six sales of art at auction by Australian artists that have exceeded the amount realised for the Newson Lockheed Lounge.
