(ZEROHEDGE) – Among the litany of decisions resulting from Brexit was a choice that art dealers in London had to make: keep their art in the U.K. or migrate it to the EU before Brexit restrictions go into effect?
The potential issue lies in future import duties that collectors may have to face, should they decide to bring their art from London to the EU in the future. Many midsized galleries in London sell "regularly" to Europe, according to Bloomberg.
The art could previously "move freely between the EU and the U.K. with minimal restrictions and without cumbersome tax and customs procedures."
Advertisement - story continues below