European dealers and galleries have raised concerns over increasing bureaucracy
Art market faces another strand of red tape. Photo: Frank McGrath
A new EU regulation which will have implications for auctioneers, art dealers and galleries is coming into force today, despite the EU simplification agenda which aims to reduce red tape.
Regulation 2019/880 requires importers of cultural goods that are over 200 years old – and worth more than €18,000 – to provide evidence they were legally acquired in their countries of origin before being brought into the EU.
