Last week, Spanish billionaire Jaime Botín received a jail sentence and $58 million fine after attempting to smuggle a Picasso painting to London via yacht and private plane. Botín had originally planned to sell his Picasso at auction as early as 2012, but the Spanish government threw a wrench in his plans by declaring the work a national treasure. Spain’s cultural heritage laws and export controls are among the strictest in Europe, classifying items over 100 years old as national treasures and prohibiting their unauthorized export. Like other countries with a wealth of cultural property, including Italy, Mexico, and Egypt, Spain limits private ownership of these goods and requires export licenses prior to allowing them to leave the country. The Picasso work is now at the Reina Sofía Museum in Madrid and will likely remain there for the foreseeable future, as the case’s prosecutor requested that ownership of the work be transferred to the state and allocated to a public center, as per the Spanish Heritage Law. This outcome could have been avoided if Mr. Botín had consulted an attorney rather than attempting to circumnavigate the law.

Once an artwork has been classified as an illegal export, it becomes essentially “unsellable.” The owner may wind up with an out-of-pocket loss of millions of dollars, in addition to related costs, such as storage. Furthermore, as countries become more aggressive in pursuing these types of property, a private collector may be subject to litigation in multiple jurisdictions. Italy’s Art Squad (Comando Carabinieri Tutela Patrimoniale) is particularly effective in tracking down heritage items that have gone astray, and often liaises with the FBI’s Art Crime Team. Neither an ocean nor geographic border pose a deterrent when cultural heritage is on the line.

But hope is not lost for art collectors and sellers. Determining whether your property is subject to restrictions can be resolved by consulting an attorney with in-depth knowledge and experience with art and heritage laws and of export restrictions. Having served for years as a leading cultural property expert for government agencies and private clients, our founder Leila Amineddoleh is uniquely qualified to assist in matters concerning ownership, customs regulations, export laws, and transfer of artworks. Our firm routinely advises clients on the sale and export of art and cultural property to ensure that there will be no customs or ownership issues before, during, and after the transaction takes place. Collecting art and heritage items can be fun, exciting, and rewarding, but it should be done with caution and prudence.