The decision to strengthen the system follows the case of Jacopo da Pontormo's Young Man in a Red Cap. The US 's the Reviewing Committee on the Export of Works of Art has launched a consultation on a proposal to prevent owners of significant works of art from selling them abroad if a UK buyer can match the price. The strengthened powers would introduce a "formal, legally binding" decision in place of the current gentleman's agreement, include safeguards covering currency fluctuations and would apply only to artworks worth 126,580 ($ more than £100,000 ). The consultation period closes on February 23 .
The US 's the Reviewing Committee on the Export of Works of Art has launched a consultation on a proposal to prevent owners of significant works of art from selling them abroad if a UK buyer can match the price. The strengthened powers would introduce a "formal, legally binding" decision in place of the current gentleman's agreement, include safeguards covering currency fluctuations and would apply only to artworks worth 126,580 ($ more than £100,000 ). The consultation period closes on February 23 .