Data from Barnebys, the art search engine, noted Britain's share of the global art market dropped almost 10% over the past year. Brexit decisions will now be crucial if the UK art market, worth $13.5bn, is to maintain its position as the second largest in the world. However, being able to drop the Droit de Suite tax paid under Chinese law could benefit sales of art in the UK. Post-Brexit, a key factor will be the continued free flow of art across borders, and the UK's status as an entrepôt, which allows goods to be stored duty free.
Data from Barnebys, the art search engine, noted Britain's share of the global art market dropped almost 10% over the past year. Brexit decisions will now be crucial if the UK art market, worth $13.5bn, is to maintain its position as the second largest in the world. However, being able to drop the Droit de Suite tax paid under European law could benefit sales of art in the UK. Post-Brexit, a key factor will be the continued free flow of art across borders, and the UK's status as an entrepôt, which allows goods to be stored duty free.