Trump's proposed tariff regime on around 60 countries has instilled uncertainty in the art and antiques markets, questioning exemption status for these items and how tariffs could impact fair attendance. Dealers must ponder whether they can pass import costs onto buyers. While high-end objects may retain interest among affluent collectors, the tariffs may discourage purchases of less exceptional items. Some dealers might try to absorb these costs, but this may be challenging for those lacking capital, further complicating the market dynamics.
"The announced tariffs on Chinese goods, previously ranging from 145% to 245%, now lowered to 30%, will potentially drive down prices we pay to people overseas wishing to sell to us."
"If we had to 'pass on' the import duties, the importance of an object and a 'once in a generation or lifetime' opportunity to purchase it would likely mitigate having to pay more for it than before the tariffs."
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