Wildgen Expert Opinion in the Art & Finance Report 2016
Catherine Cathiard, of Counsel, and Eric Perru, Director, who are both members of the Wildgen Art Law team, have been invited to give their expert opinion into the Deloitte's Art and Finance Report 2016!
This annual report aims to act as a barometer for the emerging Art and Finance industry, to highlight the main trends and developments, but also to capture and measure the changing motivations and perceptions among its participants.
The illegal trafficking of cultural goods.
The illegal trafficking of cultural goods compromises every movement and every transaction of cultural goods stemming from robberies, non-authorized excavations, and illegal reports. Such trafficking therefore covers a large variety of practices for which the approach varies in accordance with the national and international legislation in force.
The trafficking of cultural goods is not a recent phenomenon; however, it has taken on new proportions in the context of the conflicts in Africa and in the Middle East where certain actors use it as a source of financing. The CIA estimates that Islamic State has gained revenues of more than US$6 billion through the trafficking of archeological goods in Iraq and Syria. Large portions of universal heritage are therefore threatened, damaged, or destroyed. As well as the destruction of the site of Palmyra, illicit excavations are additional means to nurture the trafficking. According to satellite photos, there have been up to 14,000 of these undertaken at the site of Apamea in Syria, known for its colonnades on either side of the main road for over two kilometers...
The whole article is available in the Art & Finance Report 2016 (page 154) HERE.