Circular economy, antiques and pre-owned luxury vs ethical consumption and relevant legislation.

Lack of awareness is not always advantageous. This is particularly true in the context of buying or selling valuable items and antiques, as legal frameworks explicitly outline the potential repercussions for unknowingly engaging in transactions involving stolen goods, regardless of whether the theft occurred centuries ago.

As a keen supporter of circular economy and mindful consumer I am dedicating my resources to assist both, the sellers and the buyers to make informed choices.

The 1970 UNESCO Convention as well as the Fifth AML Directive and the EU Regulation 2019/880 clearly define and inform both buyers and sellers of the consequences for those who breach these laws. In short, I would like to explain the main points that are important to remember and follow:

1. Make sure that the item you wish to buy or sell has not been stolen or looted during a war - past wars and ongoing wars;
2. you must make sure that the person with whom you intend to buy or sell the object has the legal rights/capacity to buy or sell it;
3. make sure that the person is not involved in a money laundering scheme and is not a financier of terrorist organisations;
4. avoid cash transactions in order to be able to prove by means of an invoice/receipt and a payment order that the transaction has taken place.