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Anxious collectors are increasingly turning to freeport havens, experts say

The Art Newspaper

However, she warns clients to be mindful of sales and “use” taxes when moving their art and collectables. “If with no sales or use tax: Oregon, Delaware, Montana, New Hampshire and Alaska.” If they move art from one state to another, a ‘use’ tax might be triggered,” she says. Currently, there are only five states in the US.

Furniture 173
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US Senators propose anti-money-laundering legislation for the art market

The Art Newspaper

If adopted, the legislation would bring the US art market—the world’s largest, accounting for 43% of global art sales, or $24.8bn, according to the most recent edition of Art Basel and UBS’s Art Market Report —more closely in line with the UK and European Union, which have adopted stricter anti-money-laundering (AML) regulations in recent years.

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Comment | Artnet sale underscores its impact on the industry—and its limitations in today's landscape

The Art Newspaper

Privatisation and personalities Artnet’s capture of just 50% of the market (as it accounts for only auction sales) was never the whole story—rather, it was a good enough indicator. Suddenly their inside knowledge was available to all, for a fee, and many in the market—including yours truly—use the database every day.

Sale 173
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‘Momentous’: Italy to slash art VAT to 5%, the lowest rate in the EU

The Art Newspaper

Art market Italy European art market European Union Tax VAT Share Subscribe to The Art Newspaper’s digital newsletter for your daily digest of essential news, views and analysis from the international art world delivered directly to your inbox.

Analysis 249
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Tim Blum will phase out traditional gallery model, close Los Angeles and Tokyo locations

The Art Newspaper

In 2023, Poe left the gallery , which was renamed to reflect the change. First reported by Artnews , the transition was not sparked by the industry-wide drop in art sales —Blum says he is burnt out after 30 years. This is not about the market,” Blum told Artnews. Of course I’ll still be buying and selling art,” Blum told Artnews.

Analysis 214
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Comment | Most forms of environmental protest are no longer possible—that's where the power of images comes in

The Art Newspaper

. • John-Paul Stonard is an art historian and author Comment Climate change David Attenborough Share Subscribe to The Art Newspaper’s digital newsletter for your daily digest of essential news, views and analysis from the international art world delivered directly to your inbox.

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Historic Grand Canyon Lodge destroyed by wildfire

The Art Newspaper

Museums & Heritage Disasters & destruction National Park Service Arizona National Register of Historic Places Share Subscribe to The Art Newspaper’s digital newsletter for your daily digest of essential news, views and analysis from the international art world delivered directly to your inbox.

Analysis 170