The United Kingdom has now completed its formal separation from the European Union. Following this, Christie’s would like to remind clients of the procedures we have in place to ensure business continuity, as well as our commitment to the UK art market.
The UK is the second largest art market in the world, and 80% of its value is made up of non-EU trade (as noted in the Art Basel and UBS Global Art Market Report 2020). Following the strong results of our auctions last season, we remain confident in the long-term outlook for the industry, and the continued status of London as an international centre for art.
Christie’s is a global company, operating in 46 countries and with clients from over 100 countries buying and selling with us. As such, we are already adept at managing a variety of processes for shipping and taxes, wherever we do business.
Shipments between the UK and European Union are now subject to formal customs procedures. While all of Christie’s offices in the region continue to operate as usual, we anticipate that in the short term this may increase the time and cost of shipping between the UK and European Union. Shipments between the UK and parts of the world other than the European Union should not be impacted.
We recommend that buyers shipping between the UK and European Union consult the VAT Refund rules in the Conditions of Sale for the relevant sale site here. Please note, buyers are responsible for any import VAT & duty charges payable in the country they choose to ship to. VAT refund rules for artwork exported from the UK have changed from 1st January 2021. Private buyers (those who have bought as an individual, not on behalf of an organisation) wishing to export and secure the cancellation of UK VAT charges must instruct Christie’s to arrange shipment on their behalf. To find out more please contact Post Sale UK via email email@example.com or telephone: +44 (0) 20 7752 3200.
For further information or assistance, please contact Christie’s Client Services on firstname.lastname@example.org or +44 (0) 20 7389 2886. Please note that Christie's is unable to provide tax or financial advice to you and recommends you obtain your own independent tax advice.