The government introduced Anti-Money Laundering measures as of 10th January 2020 which requires auction houses, art galleries and dealerships to conduct due diligence on buyers who purchase from them works of art above a threshold of €10,000.
We will have to take, and be seen to take, all reasonable steps to mitigate the risks of money-laundering occurring in the course of our business, including the risks of being paid with illegally obtained funds.
Before the completion of any sale over this threshold, we are now legally obliged to carry out identification checks; (CDD = Customer Due Diligence). Please understand that we are now obligated to do this for all our clients, even those with whom we have dealt in the past, but rest assured that we will do our best to make the process as quick and efficient as we possibly can.
For individual buyers, we are required, by law, to verify the buyer's full name, date of birth, nationality, and permanent address; we will need to see, and take a copy of, a valid government-issued photo ID such as a passport, driving licence or national ID card.
If the artwork is purchased on behalf of a company, we will need to have company details including evidence of incorporation, directors, and any ultimate beneficial owners.
The information you provide will be held and processed by us in accordance with Data Protection Regulations and will remain confidential. We thank you for your understanding of why this is necessary and will ensure that the gathering of this information is handled as speedily as possible.
