Rising tariffs, geopolitical instability, and extreme weather events are driving art collectors to move valuable items into secure, tax-friendly freeports, particularly in Switzerland. Experts Alexandre Ducamp of Natural le Coultre and Fritz Dietl of Delaware Freeport report a significant increase in clients over the past three years, citing the war in Ukraine, multiple ongoing conflicts, and President Trump's April 2025 'Liberation Day' tariffs as key factors. Collectors are using freeports in Geneva, Zurich, Basel, and Chiasso, as well as foreign trade zones in Delaware, to delay or avoid import duties on items like design furniture, antiques, and Chinese-origin artworks, with some purchases being cancelled due to new tariffs.
This trend matters because it signals a fundamental shift in the art market's logistics and liquidity, as collectors prioritize security and tax efficiency over traditional exhibition or sale venues. The movement of art into freeports could freeze liquidity in Europe and the US, reducing the number of artworks available for public display or immediate sale. It also highlights how global trade policies and political uncertainty are reshaping collector behavior, potentially concentrating art storage in neutral jurisdictions like Switzerland and altering the dynamics of major art fairs like Art Basel.