Art Investment

The decision of the British Government may have an impact on the art market

The British Government has decided to transfer from London to Birmingham agency licenses the export of works of art buyers

Recently, the British Government decided to transfer the Council of Museums, libraries and archives from London to Birmingham. According to experts, this could have a negative impact on the art market.

The fact is that buyers who want to remove purchased at auction work outside the UK must obtain a license for the export of the Council (this rule applies only to the valuable works whose age is more than 50 years). Previously, the Council offices located in the area of South Kensington, very close to the offices of auction houses Sotheby's and Christie's, so the process of obtaining a license was only about two days. And with the relocation agency in Birmingham, which is located almost 200 kilometers from London, quickly get an important document will now be harder.

United Kingdom will become the first EU state issuing such licenses in the capital. But London is the most important center of art market - 30 percent of all global transactions are committed there. Last year the city won a New York auction capital of the main title of the world - the total value of lots sold in London for 8 million dollars more than the amount the New York sales. This United Kingdom ranked first on the auction turnover. It is also worth noting that in the European art market share of London's huge - more than 50 percent.

last year from the UK was taken out of works of art and antiques at 2.74 billion pounds. Does the prospect of scare buyers to stay in England a few extra days to get a license? .. According to the chairman of the British Art Market Federation, Anthony Brown (Anthony Browne), there is no doubt. «It is impossible to imagine that the quality of services will remain the same if (Hint - Ed .) Will be located 100 miles from the center of the art-market».

representative of the Council of Museums, Libraries and Archives said that the reason for the move was a government requirement to reduce the operating budget by 30 percent. In addition, the transfer of government departments in other cities tamoshnim gives residents a chance to find a job in public office. According to the rules of the Board, the process of issuing the license must not occupy more than five days - according to the representative of the Council, the same restriction on the time to act and, after moving to Birmingham.

Material prepared Yulia Maksimova, AI

Sources: telegraph.co.uk , artinvestment.ru


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