Where are art freeports located?

Geneva and Zurich had the leading art freeports for more than a century, and billions of dollars of art are estimated to be held within them. Freeports are also located in Chiasso and Basel. Until recently, the Geneva freeport was an art market favorite because of its thorough and expert provision of highly sophisticated logistical art services.

Is Delaware Freeport safe for art?

That is, as long as the artworks don't leave the freeport. Delaware Freeport is just one of many such high-security repositories scattered across the globe, in far-flung locales from Switzerland to Singapore. Much of the world's valuable art isn't on display in museums, or on the mansion walls of wealthy collectors.

Why do art markets use freeports?

Freeports have evolved to provide art market participants with convenient locations to conduct their international transactions, and the art market’s use of freeports is in line with the original intended use of freeports to facilitate international trade.

What happens if art leaves a Freeport?

The longer the art is stored in a freeport, the longer the obligation to pay such taxes and customs duties is delayed, and if the art never leaves a freeport, such taxes and customs duties will never be due.