High Value and Luxury Assets
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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.
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