High Value and Luxury Assets
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Beautiful jewellery and watches never date. It can sometimes take considerable effort and money to find that perfect piece. However, whether you are a jewellery store owner or a private buyer, you need to be aware of the requirements under the Hallmarking Act 1973 to ensure you are aware of your rights and the trading standards required in the United Kingdom.
A hallmark is series of three compulsory marks located on items of precious metal. The Hallmarks Act 1973 states that a hallmark must provide the following information:
You cannot describe articles as totally or partly manufactured from gold, silver, Platinum or Palladium unless they carry a hallmark. Counterfeiting a hallmark is an offence under the Act and can result in a fine and/or incarceration.
At Saracens Solicitors, our commercial solicitors can assist you in understanding your obligations as a seller under the Hallmarking Act 1973. If you have found yourself victim to a counterfeit, we can take the necessary action both here in the UK and internationally to ensure your rights and financial interests are protected.
The Vienna Convention on the Control and Marking of Precious Metals is an international treaty between Contracting States, which aims at facilitating the cross-border trade of precious metal articles. Since its inception in 1975, the treaty has done much to harmonise the international standards of hallmarking, which in turn protects individuals who invest in articles made from precious metals.
There are currently 19 contracting states, including the UK.
If you invest in fine jewellery then our firm can provide you with the legal advice you need to ensure the articles you purchase are genuine and meet both UK and international requirements.
To find out more contact us today on 020 3588 3500 or request a callback and we will be in touch in a manner that suits you.
Keeping The Environment Clean and Green Blue – The Environmental Laws To Consider When Purchasing A Yacht If you are in the market for a yacht and are prepared to pay the price normally required to purchase one (we all know they don’t come cheap), you want to be 100% satisfied that it meets all the necessary environmental regulations. This is because the last thing you need is to find yourself on the wrong side of the MCA, or in breach of MARPOL, COLREGS or SOLAS (the maritime world is full of acronyms and the meaning of these will be explained as we go along). In today’s environment conscious world, […]Read more
Someone once quipped that buying a boat is the equivalent of standing in a shower, ripping up hundred-pound notes. The witty remark was, of course, referring to a small jet boat – anyone who has ever owned a yacht knows that in all likelihood a zero (or three) ought to be added to the notes referred to in the gag. There is no doubt that buying and owning a yacht involves a significant capital injection. However, there are ways you can operate your yacht as a business, enabling you to plan for tax and minimise legal wrangling with foreign jurisdictions. One of the ways a yacht can be turned into […]Read more
What is a Shareholders’ Agreement? We often have clients who tell us that they have started a new business and have been advised by friends / colleagues to enter into a shareholders’ agreement. We are frequently asked why a shareholders’ agreement is needed and the matters covered by the agreement. To put it simply, a shareholders’ agreement is a private contract that can be entered into by some or all of the shareholders of a company to regulate the affairs between them. It gives rise to contractual obligations between the parties and the usual contractual remedies are available in the event of breach. The structure and provisions within a shareholders’ […]Read more