The art market has been dealing with a swathe of changes ranging from Brexit to anti-money laundering. In this letter by our CEO Susan J Mumford, she takes three recent breaking news items and provides a measured take.
A quotation from the piece:
“My take is not a knee-jerk reaction to developments, but one of consideration and reflection. For example, if the Economic Crime Levy comes to fruition in the UK, it will by and large be other industries paying for it.
Owing to the proposed small business exemption, the majority of art businesses won’t pay a fee and yet will have access to improved services that will save time with AML checks and SAR submissions. In other words: this could actually be a welcome levy for the sector.”
Immediately following the publication, she stated on Instagram that she and CTO/Co-Founder Dr. Chris King did “not try to stop the unavoidable, but to represent & support the industry in the face of change”.
The letter serves to quash sector misunderstanding and scare-mongering.
Read the full piece – with special thanks to Antiques Trade Gazette journalists Laura Chesters and Noelle McElhatton.
Here’s Susan pictured with the article shortly after publication: