Resources

With effect from 1 April 2024 all the threshold figures that apply to the Artist's Resale Right (ARR) in the UK have been stated in pounds sterling, breaking the link with the euro.  For example, sales do not now attract the right if the sales price is less than £1,000 (up to 31 March 2024 this threshold was €1,000).

Works acquired from the artist less than three years prior to the date of sale also do not attract the right provided the sales price does not exceed £10,000 (previously €10,000).

The Government has just announced that it intends adding ivory from five additional species to the Ivory Act 2018: hippopotamus, narwhal, killer whale, sperm whale and walrus.  The Act currently applies to elephant ivory alone.

HM Treasury has approved the latest (6 February 2023) version of the British Art Market Federation's Guidance on Anti-Money Laundering for UK Art Market Participants.

We are delighted to announce that the BADA has become the first UK trade body to join the Gallery Climate Coalition (GCC), an international organisation tackling the carbon impact made by the arts sector. Our goal is to reduce our carbon footprint in line with the U.N. call to cut global CO₂e contributions by 50% by 2030 and to help members find environmentally sustainable solutions.

We have commissioned Rakhi Talwar, an independent Anti-Money Laundering (AML) compliance professional who is a BADA Recommended Service Provider with extensive experience and clients in the fine art sector, to produce a series of four short videos for members to use for staff AML training. Regular training is an obligation for all Art Market Participants (AMPs) registered with HM Revenue & Customs (HMRC) for AML supervision.

Dear Member,

I hope you are starting to see an improvement in trading conditions following the period of Covid and that those members exhibiting at fairs will have a good start to the summer fair season. I look forward to seeing many of you in the coming months.

I wanted to take this opportunity to update you on some of the activities of the Association over the past year.

BADA subscription renewals 2022/23

The financial year runs from the 1 July 2022 to the 30 June 2023. Subscription payments (or payment arrangements) are due by the 1 July.

Direct Debit payments

Members paying their subscription by Direct Debit qualify for a £50 discount off the annual subscription fee.

Ivory

From 6 June 2022 any items offered for sale containing elephant ivory either need to be registered with Defra/APHA (e.g. items containing < 10% ivory by volume) or need an exemption certificate (e.g. items containing 10% or more ivory by volume).

Anti-Money Laundering (AML)

• £5,000 penalty for each 3 months of trading in €10,000+ art works whilst unregistered

• Significant penalty reductions for voluntary disclosure of unregistered trading 

Ivory Act:

• 9 weeks left to register items comprising less than 10% ivory (from Monday 4 April)

• Applications should be made now for exemption certificates for items of high artistic, cultural or historical value

• BADA ivory webinar recording available here

Members are reminded that in order to continue offering for sale pre-1947 items comprising less than 10 per cent ivory

Opening Weekend 29 April - 1 May 2022

Ottocento Fine Art is opening a gallery in Petworth this spring, bringing its carefully curated collection of fine art paintings, prints and works on paper to the thriving art scene in Petworth. The opening weekend will offer the opportunity for art lovers, collectors, dealers and interior designers to be among the first to view the new gallery space and the collection of works currently available.