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Here’s How Brexit Will Impact The Business Of Art

VISUAL Posted: February 20, 2019 1:04 pm

One example: Tornabuoni Art, a high-end dealership with galleries in six locations in Britain, France and Italy, now plans to close its current London exhibition of 20th-century abstracts by Alberto Burri and Lucio Fontana on March 9, three weeks earlier than scheduled. The 40 works in the show have a value of about 70 million euros, or $79 million, which would attract a tax bill of €7 million if shipped back to Italy after Britain drops out of the European Union’s free trade zone, because Italy levies 10 percent on artworks imported from outside the bloc. – The New York Times

VISUAL Published: 02.19.19

Read the story in The New York Times Published: 02.19.19

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