New German Cultural Heritage Laws Affect Collectors Worldwide
A new change has been made to the German Cultural Property and Heritage Protection law which will affect collectors from all over the world.
German Minister of Culture, Monika Grutters has put forward the ideas which will have negative consequences for collectors.
New due diligence guidelines are set to unsettle the German numismatic community as well as traders within the market. The guidelines have potential to negatively impact prices globally.
The new law will require all owners of ‘cultural goods’ with a minimum value of €2,500 to prove the items origin for the previous 20 years. Items of ‘archaeological value’ this is set at €100.
In light of this, many auctioneers, dealers and collectors are supporting a petition ‘preserving the right to privately collect’ in the hope the German government will review its actions. If you would like to sign the petition please click here.