Germany’s Onerous New Art Export Law, Explained

ARTSY | Alexander Forbes & Isaac Kaplan:

On Friday, the German Bundesrat ratified a new law, implementing unprecedented controls over the country’s art market. The law, championed by culture minister Monika Grütters since she took office in 2013, was passed by the German parliament late last month. It requires government approval for artworks valued at more than €150,000 and more than 50 years of age to be sold outside of the E.U.—where both of the strongest venues for high-value artworks will soon lie. Many of Germany’s wealth of collectors and art market players are up in arms. Here’s what you need to know… Read more

Image: Installation view of Capitain Petzel’s booth at Art Cologne, 2016. Photo courtesy of Art Cologne