Brexit and the Art Market (ctd.)
March 5 2019
Anny Shaw has a good piece in The Art Newspaper on the coming peril of a No Deal Brexit, and how it might effect the shipping of artworks between the UK and the EU after March 29th. None of it is good:
The prospect of hefty EU import taxes is already disrupting exhibition programmes in the UK. Tornabuoni Arte in London is closing its show of paintings by Alberto Burri and Lucio Fontana two weeks early and transporting the works back to Italy to avoid a potential multimillion-pound reimport bill. Italy’s import rate stands at 10%.
“We are covering our backs because no decision has been made yet, but we are looking at an enormous amount of money to reimport incredibly expensive works. It’s crippling,” says a gallery spokesman.
Whatever happens on March 29th, the moving of artworks from the UK to the EU will be more difficult and expensive.
