Art Investment

The Germans were taking art abroad, has not yet adopted a new law on the protection of cultural property

New the draft law on the protection of cultural heritage in Germany, which is disturbing to say the art-дилеры, artists and collectors from spring — last summer, led to a mass export of works of art from the country. Players art-рынка are ahead of the curve and sell abroad work until he passed a new law.

the Essence of the new law to consider all works of art are over 70 years old and worth more than €300 thousand as a potential national asset. For their sale abroad would need to seek permission to export in special commissions that will be established in all regions of Germany. As a result, the collectors buying in Germany, can be faced with the need to wait longer for their purchases or even to obtain a permit for their removal (if work will be recognized as a national treasure).

unlike the German draft law and the other similar laws in force in the countries of Europe in that the owner wished to sell the work, will not be offered compensation amounting to the amount that was willing to pay the potential buyer abroad (i.e. market price). Remember that Britain, which regularly organise Fund-raising and finding sponsors for the redemption of this or that masterpiece for the nation. However, if during a certain period (typically from six months with right of renewal) of such potential buyer, willing to buy the work for the country at market price, is not, an export permit fee the British still issue: the rights of a private owner is more important. In the German bill no such item — is-то and scares the members of the art-рынка and causes them to rush to take out of work before the law.

As reports The Art Newspaper Russia, from Germany to Belgium has already taken out papers for €100 million. This figure is called the auction house Lempertz Director Henrik Hostynem. This autumn the auction house put up for auction of five works of August Macke from the collection of the artist's heirs. The owners decided to sell the work, fearing that the blade will lose more than half its value if recognized as a national treasure.

the Head of the auction house Ketterer Kunst Robert Ketterer, quoted by TAN, believes that "among collectors, in which own things that fall into what-либо of the categories of the new law, there is no one who would not be thinking about how to get them out of Germany." Collectors in a panic, despite the fact that the law has not yet been adopted.

However, according to the Chairman of the Committee on culture and media of the German Parliament Sigmund Ehrmann, the extent to which the bill affected the export of works of art beyond the borders of Germany, "it is impossible to accurately estimate" and the fears of participants of the market seem exaggerated.

Expected date of adoption of the law — spring of this year.

Sources: theartnewspaper.ru, artinvestment.ru


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