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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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Anxious collectors are increasingly turning to freeport havens, experts say

The Art Newspaper

A lot of them are choosing to store items they have bought in Europe, until the tariff situation is resolved—they’ve bought a piece from a Paris dealer or auction house, for instance, they ask them to store it until the tariffs have lifted, they hope,” Petit says. They’re trying to hedge the situation by buying time.

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

The Art Newspaper

Auction houses and dealers lost a chunk of the asymmetry of information that had served them well, hence their initial objections (and threatened lawsuits). 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.

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

The Art Newspaper

Mollicone cited a recent study by Nomnisma and the Intesa Sanpaolo bank, which estimated that a 5% VAT rate would boost the annual turnover of Italian galleries, antique dealers and auction houses to €1.5bn within three years, which would then generate an extra €4.2bn for Italy.

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A quartet of key art market players join forces to form ‘super group’ consultancy

The Art Newspaper

Over the past 20 years, we’ve seen that completely disintegrate in front of our eyes—much to the benefit of the volume of sales. The pandemic also significantly altered the way auction houses sell art. Profitability is a problem for auction houses. Private sales, too, are growing as public auction values fall.

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Sotheby’s offers peek at Breuer building’s makeover

The Art Newspaper

Georgia O’Keeffe: © 2025 Georgia O'Keeffe Museum / Artists Rights Society (ARS), New York Images released by the auction house on Friday (13 June) show an exterior and lobby in line with how the spaces appeared during the building’s turns as a museum. Ruth Asawa: Artwork © 2025 Ruth Asawa Lanier, Inc., Courtesy David Zwirner.

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Sotheby’s returns ancient Buddhist gem collection to India after legal pressure

The Art Newspaper

The jewel collection, a historically significant trove known as the Piprahwa gems, was due to be auctioned in Hong Kong in May, but the sale was halted after legal intervention. The relics will now rejoin the main collection that was donated to the Indian Museum and go on permanent public display in India, the auction house said.