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art market minute jun 9 2653576

The article reports on a new European Union regulation, Regulation 2019/880, set to take effect on June 28, which will impose stricter import requirements on antiquities and artworks over 200 years old and valued above €18,000. Importers must now prove that such objects were legally exported from their country of origin, even if the export occurred decades ago. This comes amid ongoing tariff confusion in the U.S., adding another layer of complexity for the international art trade. The article also teases a rediscovered J.M.W. Turner painting bought for $500 that could sell for $500,000, and highlights upcoming art hot spots for summer.

eu import regulations 2653480

The European Union's Regulation 2019/880, aimed at combating illicit trafficking and terrorism, will take effect on June 28, imposing stricter import controls on antiquities and artworks over 200 years old and valued above €18,000 ($19,500). The regulation requires importers to provide evidence that an object was lawfully exported from its country of origin, even for items exported decades ago when such documentation was not required. This reverses the presumption of innocence, placing the burden of proof on importers. Dealers and experts express concern that the rules are not based on market realities, as importers must be registered within the E.U., forcing non-E.U. dealers to rely on third-party agents or shippers. The regulation also poses challenges for ancient objects, where borders and export controls may be historically ambiguous.

Today’s war, tomorrow’s loot: attempts at stemming the illicit trade in art

The article examines the ongoing challenge of preventing the illicit trade in cultural property looted from conflict zones. It discusses the Hague Convention of 1954 and its protocol, which require signatory countries to prevent theft and pillage during armed conflict and to seize and repatriate unlawful exports. However, the protocol only applies to situations of 'occupation,' leaving a gap for looting that occurs in the chaos of war beyond formal occupation. The article also notes UN Security Council Resolutions that restrict unlawfully removed cultural property from Iraq and Syria, but no similar consensus exists for countries like Afghanistan, Libya, Ukraine, Lebanon, Yemen, Sudan, and Iran. EU Regulation 2019/880 is highlighted as a measure that prohibits introducing goods removed unlawfully from their place of origin into the EU, though its scope has expanded beyond its original anti-terrorist financing purpose.

Why the new EU law aimed at stopping antiquities trafficking may hamper museum loans

A new EU regulation (2019/880) taking effect on 28 June aims to prevent trafficking of looted antiquities by requiring importers to provide extensive provenance records and export permits for cultural goods over 200 years old or worth more than €18,000. While the law includes an exemption for temporary exhibitions, implementing rules limit this exemption to loans from museums outside the EU, excluding private collectors. Museum directors and art fair officials warn that the administrative burden may discourage private lenders from participating in temporary exhibitions, potentially reducing the diversity of cultural offerings in the EU.