{"id":14082,"date":"2026-10-05T14:37:59","date_gmt":"2026-10-05T14:37:59","guid":{"rendered":"https:\/\/www.keplerkarst.com\/que-ocurre-cuando-el-principal-comprador-de-un-mercado-no-es-una-empresa-ni-un-coleccionista-sino-un-estado\/"},"modified":"2026-10-05T14:41:56","modified_gmt":"2026-10-05T14:41:56","slug":"what-happens-when-the-leading-buyer-in-a-market-is-neither-a-company-nor-a-collector-but-a-state","status":"publish","type":"post","link":"https:\/\/www.keplerkarst.com\/en\/what-happens-when-the-leading-buyer-in-a-market-is-neither-a-company-nor-a-collector-but-a-state\/","title":{"rendered":"What happens when the leading buyer in a market is neither a company nor a collector, but a State?"},"content":{"rendered":"\n

In his op-ed “The New Sovereign Players in the Art Market”, published in Cinco D\u00edas, Arturo Bartolom\u00e9, Associate at Kepler-Karst, analyses the emergence of States and sovereign wealth funds in the international art market and the legal challenges their participation raises.<\/p>\n\n\n\n

The article starts from a fundamental asymmetry: although these players operate like any other buyer, their nature and resources are substantially different from those of a private operator, and competition rules were not designed with them in mind. From there, it examines the implications for transparency, anti-money laundering, provenance and future public access to cultural heritage.<\/p>\n\n\n\n

Its conclusion opens a much-needed debate by asking whether the current legal framework is equipped to deal with a buyer that can act simultaneously as collector, financier, owner of cultural institutions and investor.<\/p>\n\n\n\n

Read the full article (in Spanish) here<\/a>.<\/p>\n\n\n\n

Access the Spanish version here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

In his op-ed “The New Sovereign Players in the Art Market”, published in Cinco D\u00edas, Arturo Bartolom\u00e9, Associate at Kepler-Karst, analyses the emergence of States and sovereign wealth funds in the international art market and the legal challenges their participation raises. The article starts from a fundamental asymmetry: although these players operate like any other […]<\/p>\n","protected":false},"author":1,"featured_media":8347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":""},"categories":[848,864],"tags":[],"acf":[],"yoast_head":"\nWhat happens when the leading buyer in a market is neither a company nor a collector, but a State?<\/title>\n<meta name=\"description\" content=\"Arturo Bartolom\u00e9 analyses the emergence of States and sovereign wealth funds in the international art market and the legal challenges their participation raises.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.keplerkarst.com\/en\/what-happens-when-the-leading-buyer-in-a-market-is-neither-a-company-nor-a-collector-but-a-state\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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