High Value and Luxury Assets
Request a callback
Beautiful objects have always captured peoples’ imagination. Acquiring or selling an antique piece of furniture or a rare, valuable collectable may seem simple, but there are some legal matters both a buyer and seller need to be aware of.
At Saracens Solicitors, we are experts in the law surrounding the sale and purchase of antiques and collectables. From defining whether or not an item falls under the definition of ‘treasure’ to establishing ownership, to the laws surrounding the auction process, we can advise you in a clear, competent manner, allowing you to indulge in your new purchase, or enjoy the proceeds from your sale.
There are a number of ways to buy and purchase antiques in the United Kingdom including:
If you are purchasing an antique from an auction remember the golden rule of Caveat Emptor or Let the Buyer Beware.Ensure you or your representative have a chance to inspect the antique thoroughly, to ensure there are no defects.
The Treasure Act 1996 defines treasure or ‘treasure trove’ as:
There is a legal obligation for finders of treasure to notify the local coroner within 14 days. Before you make any attempt to sell an item that may be considered treasure you need to obtain legal advice as to who is entitled to claim legal ownership of the item or items.
Our solicitors are fully versed in the complexities surrounding the law of ownership of treasure and other antiques. We will also advise you on any VAT issues which may arise from your purchase.
To talk to us further about acquiring or selling antiques please phone our London office on 020 3588 3500
or request a call back and we will be in touch as soon as possible.
Provenance, rarity and originality, these are the holy trinity for anyone purchasing a classic car. Good judgement and research also pays off. This is a market that is booming after leaping 17% in 2015, more than any other luxury asset such as watches, art and stamps. Earlier this year, a Ferrari 250 GTO was on sale in the UK for the asking price of a whopping £52 million. The current picture of the classic car market There was a sense at the beginning of 2016 that the classic car market was slowing down due to a drop in sales and cars selling for less than expected sums in auction halls […]Read more
The Art Paris Art Fair, which kicks off at the end of March, is one of the leading spring events in the art world. With around 145 exhibitions from over 20 countries, representing 2,200 artists and held in the Grand Palais, the event attracts an array of fans, including wealthy individuals with a refined knowledge of art from all over the world. Art fairs are one way to pick up a desirable piece of work directly from the artist. The other primary driver of art sales is galleries. High-end artwork, the kind that passes from one private collector to another, is mostly sold at auctions. With that said, as the […]Read more
For budding entrepreneurs there has never been a better time in history to start your own internet business. The miracle of the internet allows those with the necessary courage, work-ethic and gumption, to set up shop without the crippling costs of finding, stocking and financing a physical premises. But the online revolution has offered start-up businesses much more than just removing the need for expensive premises. Some of the many advantages of owning and operating an internet based business include: Low start up costs. Depending on the type of online business you plan to operate, initial costs can start from as little as a few hundred pounds (the cost of […]Read more