Art Shipping and Storage

Global art shipping involves intricate logistics, requiring careful handling and attention to customs regulations. One delicacy of this process is navigating the varying import and export laws in different countries, which can significantly affect costs and delivery timelines.

Using art storage at freeports can be an advantageous strategy for collectors seeking to avoid import or export fees. Freeports are secure facilities located in tax-free zones, allowing art to be stored without incurring duties or taxes until it is officially sold or moved. This is particularly beneficial for high-value works, as it provides flexibility for timing sales and managing collections without the immediate financial burden of customs fees.

However, it’s essential to consider that while freeport storage offers tax advantages, it may come with higher rental fees and limited access. Additionally, if the artwork is intended for display or personal enjoyment, prolonged storage may not be desirable. Therefore, careful planning and consultation with art advisors can help determine when to utilize freeports effectively, balancing the benefits of tax avoidance with the need for accessibility and enjoyment of the collection.