The recent theft of the jewels of Napoleon III and Empress Eugénie de Montijo from the Louvre has once again highlighted the significant legal risks surrounding the trade of cultural property.
As Laura Villarraga, Of Counsel at Kepler—Karst Law Firm, explains, buyers of such pieces face civil liability if the original owner claims restitution, as well as potential criminal charges for handling stolen goods, illegal importation, or trafficking in cultural property.
In this context, auction houses and intermediaries in the art market are subject to strict duties of diligence and good practice: verifying the provenance of the pieces, checking international databases of stolen objects (such as INTERPOL), requesting supporting documentation, and applying KYC/AML verification procedures.
Read the full Vozpópuli article here
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